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    New Development Del Taco Restaurant Title is generated by Realmo AI

    2760 Us Highway 331 S, Defuniak Springs, FL

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    New Del Taco with 20-year NNN lease in Defuniak Springs.

    Type:RETAIL
    Property size:
    2,300 SF
    Lot size:
    1.37 Acres
    Price / SF:
    $1,404/SF
    Added:
    Jul 23, 2024
    Days on Market:
    682
    Last Refresh:
    May 20 at 8:35 pm

    Property Features for 2760 Us Highway 331 S

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Lot size
    1.37 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Drew Duncan
    Drew Duncan

    Listing agent Drew Duncan License #TX 9007104

    Listing office Trinity Real Estate Investment Services - Corporate

    Listing date Jul 23, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Trinity Real Estate Investment Services - Corporate

    HighLights

    • Absolute NNN lease with zero landlord responsibilities, providing a completely passive investment.
    • New 20‑year Del Taco lease commenced in May 2024, offering long‑term stability.
    • Guaranteed by Consolidated Restaurant Group, a large and established operator.
    • Attractive 7.50% rental increases every 5 years throughout the primary term and options.
    • Located in an area with explosive growth, including significant residential and commercial developments.
    • High‑traffic location on US Highway 331 with 31,500+ vehicles per day, near major national retailers.

    Overview

    This new development features a Del Taco restaurant with a 20-year absolute NNN lease, commenced in May 2024, requiring zero landlord responsibilities. The lease includes 7.50% rental increases every 5 years throughout the primary term and option periods. Situated on a Tractor Supply Company outparcel, the property benefits from proximity to national retail tenants such as Chick-fil-A, Whataburger, KFC, and McDonald's, attracting significant customer traffic. The area is experiencing explosive growth, with over 400 residential rooftops planned, numerous multi-family developments underway, and a 300+ acre Veterans Lodge development across the road. The property offers excellent visibility along US Highway 331, which sees a daily traffic of over 31,500 vehicles. The lease is guaranteed by Consolidated Restaurant Group, which operates and franchises seven restaurant brands across the US and internationally. Located 25 miles from Santa Rosa Beach on the Emerald Coast, the property benefits from year-round tourist traffic, contributing to a total economic impact of over $7.2 billion for Walton County. Lake DeFuniak is 4 miles away, providing recreational activities in the DeFuniak Springs area. The property size is 2,300 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Real Estate Agency Restaurant Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Storage Facility Electrical Service Cafe & Coffee Shop Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Defuniak Springs
    County
    Walton
    State
    Florida
    Longitude
    -86.1239
    Latitude
    30.6823

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    FAQs

    What type of property is this?
    Drive through restaurant - New Del Taco with 20-year NNN lease in Defuniak Springs.
    Where is this drive through restaurant located?
    The property is located at 2760 Us Highway 331 S Defuniak Springs, FL.
    What is the asking price?
    The asking price for this property is $3,230,000.
    What are key features of this property?
    This property features: Absolute NNN lease with zero landlord responsibilities, providing a completely passive investment.; New 20‑year Del Taco lease commenced in May 2024, offering long‑term stability.; Guaranteed by Consolidated Restaurant Group, a large and established operator.
    (262) 309-4900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Drew Duncan
    Drew Duncan
    Real Estate License ID: TX 9007104
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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