3770 Ulmerton Rd - Fast Food FOR SALE


Clearwater, FL 33762
$1,605,000 USD
813-758-8797
3770 Ulmerton Rd, Clearwater, FL for Sale
$1,605,000 USD
Fast Food - FOR SALE
1/4
null | 5.82% Cap Rate

3770 Ulmerton Rd
Clearwater, FL 33762


HIGHLIGHTS

  • Ultra-low ground rent and nearly 40 years of operation by Burger King at this location
  • Hard corner location with 86,000 vehicles per day along Ulmerton Rd
  • Tenant completely rebuilt their store in 2019 to a modern prototype
  • Absolute NNN ground lease with no landlord responsibilities with upside in percent rent
  • Over 2.5 million passengers travel through the St. Pete-Clearwater Airport—up 10.4% since 2019
  • Daytime population of 93,000 in 3 miles and 2,100 hotel rooms in immediate vicinity

OVERVIEW

Colliers, as exclusive broker, is pleased to offer the opportunity to acquire Burger King (the “Property”) in Clearwater, Florida, in the most densely populated county in Florida, paying an ultra-low ground rent of $85,600 per year. The franchisee re-built their store from the ground up in 2019 on the hard corner lot at a lighted intersection just 900 feet south of the St. Pete-Clearwater Airport where nearly 86,000 vehicles per day drive on Ulmerton Rd. 2.5 million passengers traveled through the airport in 2023 and traffic is up 10.4% since 2019. Pinellas County had 15.8 million visitors in 2023. Tenant is approaching 40 years of business at this location and tenant sales result in a healthy 7.5% rent-to-sales ratio. The job base and access to transportation routes results in 104,000 people in a 10-minute drive time and a daytime population of 93,000 in 3 miles. Ulmerton Rd connects to the busiest bridge in the Tampa MSA which carries over 141,000 vehicles per day.

FOR SALE DETAILS

PRICE

$1,605,000 USD

PRICE/SF

$470 USD /SF

CAP RATE

5.82%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burger King

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

10-30-16-71010-100-0402

ASK ABOUT THIS PROPERTY

Michael BrewsterColliersMore Info
813-758-8797

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Michael BrewsterColliersMore Info
813-758-8797

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.