Zaxby's NNN Property For Sale — St. Augustine, FL
Less Than 1 Mile from Historic Downtown, St. Augustine, FL
This investment opportunity features a 13-year absolute NNN lease with no landlord responsibilities. The property boasts strong sales and a conservative rent-to-sales ratio. The tenant is an experienced operator with four locations and over 17 years of experience with the Zaxby's concept, which operates over 800 locations nationwide. There are four 5-year options with 1.25% annual escalations. The property is strategically located less than one mile from historic downtown St. Augustine, an area that experiences a 68% surge in daytime population. Florida also benefits from no state income tax.
- Address: Less Than 1 Mile from Historic Downtown, St. Augustine, FL
- Asking price $3.24M
- 6.30% cap rate
- NOI $204,000
- 13 years remaining
- NNN lease
- Rent increases: 1.25% annual escalations
- Guarantor: Corporate
Location
This Zaxby's property is at Less Than 1 Mile from Historic Downtown in St. Augustine, Florida.
Asset type: QSR