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McAlister’s Deli, Port Charlotte, FL

McAlister’s Deli, Port Charlotte, FL


Investment Summary

Price $2,991,000
Cap Rate 5.35%
NOI $160,000
Lease Term 20 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, including roof, structure, and parking lot
Rental Increases Scheduled 1.75% annual rental increases in initial term and option periods
Year Built 2023
Building Size 3,100 SF
Lot Size 1.36 acres (59,242 SF)
Status Under Contract
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

20-YEAR ABSOLUTE NNN LEASE WITH A CORPORATE GUARANTY
» 20-year initial term, plus three (3) five-year options
» No landlord management, ideal for an out-of-area investor
» 1.75% rental increase every year, providing a hedge against inflation
» Guaranteed by Focus Brands, LLC, a leading developer of global multi-channel food service brands ($3.4B in revenue)
» The McAlister’s brand has over 420 restaurants in 28 states and has been awarded numerous industry accolades for its service, atmosphere, and customer satisfaction

OUTPARCEL TO KOHL’S AND PETSMART IN A MAJOR RETAIL CORRIDOR
» Prominent location in a major retail center surrounded by major national retailers including The Home Depot, Walmart Supercenter, Publix, Target, Lowe’s, ALDI, BJ’s, AutoZone, Firestone, McDonald’s and several others
» Less than two miles from Port Charlotte Town Center, the largest mall in the area with 100+ stores and 1,000,000 SF of retail space including major anchor tenants Regal, JCPenney, Bealls, and Dillard’s

CENTRAL LOCATION IN A DENSELY POPULATED AND AFFLUENT FLORIDA CITY
» Less than two miles from Port Charlotte High School (1,559 students) and Charlotte Technical College (250+ students and faculty)
» Surrounded by dense residential neighborhoods and just 10 minutes from the new West Port master planned community with approximately 2,000 single family homes and multi-family buildings
» Port Charlotte is a densely populated and affluent community with over 99,000 residents and an average household income over $83,000 within five miles of the property
» The average household income within five miles of the property is projected to increase by 17% in the next five years, poising Port Charlotte and McAlister’s Deli for strong concurrent growth

BRAND NEW 2023 CONSTRUCTION TO LATEST MCALISTER’S DELI PROTOTYPE
» Features latest McAlister’s Deli prototype
» Includes drive-thru pick-up window for take-out orders made online or via phone

Property Description

» Prominent Location in a Major Retail Center: Located near the intersection of Cochran Boulevard and U.S. Route 41 / Tamiami Trail with access to more than 76,000 vehicles per day
» Outparcel to The Home Depot, Kohl’s, and PetSmart: This McAlister’s Deli will capture a significant amount of crossover traffic from shoppers in this major retail center as well as from other nearby national retailers including Walmart Supercenter, Target, Best Buy, and Sam’s Club
» Reliable Customer Base: Less than two miles from Port Charlotte High School (1,559 students) and Charlotte Technical College (250+ students and faculty)
» Surrounded by Community Hubs: This property is less than two miles from Port Charlotte Town Center, the largest mall in the area with over 100 stores and 1,000,000 SF of retail space including major anchor tenants Regal, JCPenney, Bealls, and Dillard’s
» Strong Demographics: Surrounded by dense residential neighborhoods and just 10 minutes from the new West Port master planned community with approximately 2,000 single family homes and multi family buildings

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