NNN Restaurant with Corporate
For Sale
Contact for pricing
31141 US-19 N, Palm Harbor, FL 34684
Absolute net lease with 7 years remaining on a 20-year term and two 10-year options.
Property SizeContact for details
Days on Market123
Property Features for 31141 US-19 N
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Traffic Count
87,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Sands Investment Group
Listed By:
Rahill Lakhani · License #GA 340279
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 20 at 10:50PM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
This absolute net lease (NNN) restaurant investment places responsibility for expenses on the tenant, including roof, structure, taxes, insurance, and common area maintenance. The lease term includes 7 years remaining on an initial 20-year agreement, along with two additional 10-year options.
The tenant has received a 40% reduction in rent over the first 7 years. Rental increases are scheduled at Option One on 4/1/2024, with an annual increase of 1.25% thereafter. The lease includes a corporate guarantee by Garden Fresh Restaurant Corp., owned by Cerberus Capital Management L.P.
The property is located directly off U.S. Hwy 19 N, a major retail artery, and is reported at over 87K VPD. The Tampa/St. Petersburg/Clearwater MSA is supported by population over 3 million, with 91K residents within a 3-mile radius.
The tenant has received a 40% reduction in rent over the first 7 years. Rental increases are scheduled at Option One on 4/1/2024, with an annual increase of 1.25% thereafter. The lease includes a corporate guarantee by Garden Fresh Restaurant Corp., owned by Cerberus Capital Management L.P.
The property is located directly off U.S. Hwy 19 N, a major retail artery, and is reported at over 87K VPD. The Tampa/St. Petersburg/Clearwater MSA is supported by population over 3 million, with 91K residents within a 3-mile radius.
Key Highlights
- Absolute net lease (NNN): tenant responsible for roof, structure, taxes, insurance, and common area maintenance
- 7 years remaining on a 20‑year lease with two 10‑year options
- Option One rent increase effective 4/1/2024 to $272,157.36 plus 1.25% annual increase
Property Analytics
Current Use
Lease Details
87,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
182k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 20%
Groceries 20%
Home Improvements & Furnishings 7%
Publix
Groceries
36,154 visits/mo
0.3 miles
Circle K
Shops & Services
35,469 visits/mo
0.4 miles
Starbucks
Dining
21,688 visits/mo
0.4 miles
Dollar Tree
Shops & Services
13,599 visits/mo
0.2 miles
Chase Bank
Shops & Services
11,733 visits/mo
0.5 miles
Demographics for 34684, FL
27,078
Population
14,308
Households
1.9
Avg Household Size
54
Median Age
35%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,041
Density / Sq Mi
$67,542
Median Household Income
$47,427
Median Earnings
$1,781
Median Rent
$293,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute net lease with 7 years remaining on a 20-year term and two 10-year options.
Where is this nnn property located?
The property is located at 31141 US-19 N Palm Harbor, FL.
What are key features of this property?
This property features: Absolute net lease (NNN): tenant responsible for roof, structure, taxes, insurance, and common area maintenance; 7 years remaining on a 20‑year lease with two 10‑year options; Option One rent increase effective 4/1/2024 to $272,157.36 plus 1.25% annual increase
