Investment Offering
Keystone Heights, FL - Dominos
7403 State Road 21 | Keystone Heights, FL 32656
$827,000
Price5.85%
Cap Rate$48,390
NOIDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Domino’s investment property located in Keystone Heights, Florida (Gainesville MSA). The tenant, Domino’s, has over 9 years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The subject property has a rent to sales ratio of 2.41%. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Founded in 1960, Domino’s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world’s top public restaurant brands with a global enterprise of more than 20,000 stores in over 90 markets.
Location
The Domino’s is located along State Hwy 21 that averages 9,300 vehicles passing by daily. The property also benefits from excellent visibility via street frontage and a large pylon sign. The asset also has multiple points of ingress/egress. The site is located in a dense retail corridor, with numerous nearby national/credit tenants including Walgreens, CVS, Dollar General, Family Dollar, AutoZone, Ace Hardware, PNC Bank, Advanced Auto Parts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the subject property is in close proximity to Keystone Heights High School (1,236 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by more than 15,000 residents and 2,000 employees. Residents within a 5 miles of the site have an average household income of $80,621.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215