12181 E Colonial Dr - Restaurant FOR SALE


Orlando, FL 32826- University
$5,484,882 USD
407-234-4111
12181 E Colonial Dr, Orlando, FL for Sale
$5,484,882 USD
Restaurant - FOR SALE
1/9
null | 5.7% Cap Rate

12181 E Colonial Dr
Orlando, FL 32826
University


HIGHLIGHTS

  • Located along one of Orlando's most active retail corridors that has experienced substantial multifamily development and population growth
  • 1.5% annual rent increases during the base rent term & 1st option. Subsequent options equal 95% FMV w/ 1.5% annual rent increases.
  • Corporate Guaranty - Brinker International (NYSE: EAT) Credit Rating "BB+" - S&P
  • The subject property has over 30-year operational history at this location
  • The property is easily accessible to downtown Orlando, the University of Central Florida, and all major submarket demand drivers in Central Florida.
  • Store sales at this location put this property in the top 5% of Chili's in the U.S.

OVERVIEW

Collison Capital is pleased to present an absolute NNN leased Chili's Grill & Bar located at 12181 E Colonial Drive in Orlando, FL. Built in 1992 and situated on 0.88 acres of land, Chili's comprises 5,432 square feet of rentable space and is ideally located along one of the Orlando MSA's most active retail corridors (49,800 daily traffic volume). The subject property provides an investor the opportunity to acquire an exceptionally well-located asset that is leased to a strong publicly traded tenant (Brinker International) with attractive lease terms. This Chili's Grill & Bar is subject to a 15- year absolute NNN lease with 7.5 years of base term remaining and 6, 5-year options. During both the base term and extension periods, the lease includes 1.5% annual rent increases. The property is situated on East Colonial Drive, one of Orlando's major thoroughfares that connects the submarket directly with the Orlando Central Business District. The property is located two miles South of the University of Central Florida, the 2nd largest university in the United States. Recent trends show the Orlando MSA is experiencing significant population growth, a strong labor market, and robust economic expansion, making it the fastest growing large region in the US.

FOR SALE DETAILS

PRICE

$5,484,882 USD

PRICE/SF

$1,002 USD /SF

CAP RATE

5.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chili's Grill & Bar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

C-1

APN/PARCEL ID

22-2231-9461-00-030

ASK ABOUT THIS PROPERTY

Carter CollisonCollison CapitalMore Info
407-234-4111

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

Carter CollisonCollison CapitalMore Info
407-234-4111

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