Restaurant

Pollo Tropical

2675 N University Dr, Sunrise, FL 33322

Listing Price: $2,755,456

Cap Rate
5.15%
Tenant Name
Pollo Tropical
Years Remaining On Lease
12.20
Guarantor
Corporate Guarantee
Rentable SF
3,239
Lease Type
Absolute Net
Rent Per Square Feet
$43.81

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Pollo Tropical with drive-thru located at 2675 N University Dr, Sunrise, FL 33322. The property contains 3,239 SF of net leasable area and is situated on 0.76 acres. This absolute triple-net leased Pollo Tropical recently extended their lease through December 2032, showing a strong commitment to the site. Sunrise is a city in central-western Broward County, Florida and is part of the Miami metropolitan area. The city is home to Sawgrass Mills, the eleventh largest mall in the United States. It is also home to BB&T Center–the second largest arena in the nation which serves as the home of the NHL's Florida Panthers hockey team and hosts top national entertainment and events. Fiesta Restaurant Group (NASDAQ:FRGI )is a Dallas, Texas based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease –Zero Landlord Responsibility
  • Recently Exercised Two Renewal Options, Showing Strong Commitment to Site
  • One Percent Annual Rent Increases
  • Strong Store Sales –Rent to Sales Ratio Under Six Percent
  • Surrounded by National Retailers Including Home Depot, Lowe's, Walmart, Walgreens and Many More
  • Minutes From Sawgrass Mills –30 Million Visitors Annually
  • Frontage on N University Drive –64,000 Vehicles per Day

Exclusively Listed By

Listing Price: $2,755,456

Cap Rate
5.15%
Tenant Name
Pollo Tropical
Years Remaining On Lease
12.20
Guarantor
Corporate Guarantee
Rentable SF
3,239
Lease Type
Absolute Net
Rent Per Square Feet
$43.81

Investment Highlights

  • Absolute Triple-Net (NNN) Lease –Zero Landlord Responsibility
  • Recently Exercised Two Renewal Options, Showing Strong Commitment to Site
  • One Percent Annual Rent Increases
  • Strong Store Sales –Rent to Sales Ratio Under Six Percent
  • Surrounded by National Retailers Including Home Depot, Lowe's, Walmart, Walgreens and Many More
  • Minutes From Sawgrass Mills –30 Million Visitors Annually
  • Frontage on N University Drive –64,000 Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Pollo Tropical with drive-thru located at 2675 N University Dr, Sunrise, FL 33322. The property contains 3,239 SF of net leasable area and is situated on 0.76 acres. This absolute triple-net leased Pollo Tropical recently extended their lease through December 2032, showing a strong commitment to the site. Sunrise is a city in central-western Broward County, Florida and is part of the Miami metropolitan area. The city is home to Sawgrass Mills, the eleventh largest mall in the United States. It is also home to BB&T Center–the second largest arena in the nation which serves as the home of the NHL's Florida Panthers hockey team and hosts top national entertainment and events. Fiesta Restaurant Group (NASDAQ:FRGI )is a Dallas, Texas based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower