3770 Ulmerton Rd Clearwater, FL 33762-4215

Property Details for 3770 Ulmerton Rd

Year built

2019

Construction

CONCRETE BLOCKS

Lot size

0.92 lot acres

Property size

3,415 SF

Property type

Drive through restaurants

APN

10-30-16-71010-100-0402

APU

103016710101000402

Description

This exceptional investment opportunity presents a 3,415 square foot Burger King located at 3770 Ulmerton Rd, Clearwater, FL 33762. Built in 2019, this single-tenant, net-lease property boasts a 100% occupancy rate and a strong NOI of $95,117, representing a 5.82% cap rate. The asking price is $1,635,000 ($478.77/sq ft). Situated on a 0.92-acre lot at a highly visible, lighted intersection, the property benefits from exceptional daily traffic counts of nearly 86,000 vehicles on Ulmerton Road, a major thoroughfare connecting to the busiest bridge in the Tampa MSA. The location is further enhanced by its proximity to the St. Pete-Clearwater Airport, which saw over 2.5 million passengers in 2023, representing a 10.4% increase since 2019. The strong demographics include a daytime population of 93,000 within a 3-mile radius and 104,000 people within a 10-minute drive. Pinellas County, known for its high population density and robust tourism sector ($6.6 billion in tourism spending in 2023), provides a stable and growing market. The Burger King franchisee has operated at this location for nearly 40 years, demonstrating long-term stability and commitment. The property features rent bumps, and the tenant's sales generate a healthy 7.5% rent-to-sales ratio. This is an absolute NNN ground lease with no landlord responsibilities and potential upside through percent rent.

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Longitude

-82.6847

Latitude

27.8932

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments