Bonefish Grill

7801 W Irlo Bronson Memorial Hwy, Kissimmee, FL 34747

Description Marcus & Millichap is pleased to exclusively offer the sale of Bonefish Grill located at 7801 W Irlo Bronson Memorial Hwy. Bonefish Grill has been at this location since 2012, and the site is operated by Bloomin Brands, Inc., who is the worlds largest casual dining restaurant companies, with approximately 1,450 restaurants throughout 48 states, Puerto Rico, Guam, and 19 countries. This is an Absolute NNN ground lease. Bonefish Grill recently exercised their first option, extending the lease for 5 more years in November 2022, with three more 5-year options remaining with increases. Bonefish Grill has a fixed base rent, plus an additional percentage rent equal to 2% of the gross annual store sales only if those sales surpass the specific break point of $4,950,000. This location has an excellent rent to sales ratio of just over 3%, with the stores gross sales increasing by 11% year over year. The property is 6,500 rentable square feet and sits on a 1.78-acre parcel which is located along the heavily trafficked W Irlo Bronson Memorial Highway, with a daily traffic count of 60,000 vehicles per day. The location is surrounded by many other large national retailers and the subject property is less than 10 minutes away from Walt Disney World Resort, making it a frequent pit stop for guests who are traveling to and from the largest theme park resort in Florida. This deal is a perfect opportunity for a buyer who is in a 1031 and would like to secure an excellent location with great visibility and traffic count, along with a well-known national brand in Kissimmee, FL (Orlando MSA). Highlights sub 3.5% rent to sales ratio 50% below market rent scheduled rental increases of 10% every 5 years to hedge against inflation great traffic count of 60,000 vehicles per day increased store sales 11% year over year oversized parcel of 1.78-acres with 108 parking spaces tenant recently extended lease thru 2027 Florida has no state income tax

Contact

Broker or Owner Contact
Jonathan De La Rosa
,
Phone: (786) 522-7027
jdelarosa@marcusmillichap.com
ED Contact
Robert Collins
Orlando Utilities Commission
100 W Anderson St
Orlando, FL 32801
Phone: (407) 423-9100
rcollins@ouc.com

Building

Property ID 1281
Building Size 6500
Site Size (acres)
Zoning
Year Built
Number of Drive-In Doors
Number of Dock-In Doors
Clearance Height
Drive-in Doors no
Sprinklered no
Parking Ratio 0
Updated
Number of Parking Spaces
Parking no
HVAC

Pricing

For Sale yes
Sale Price 2802105
For Lease no
Lease Type
Lease Cost 0

Geographic and Infrastructure

Latitude 28.3427845
Longitude -81.5990096
County Osceola County
Rail Access no

Utilities

Service to Property no
Electric Provider
Gas On Site no
Gas Provider
Water On Site no
Water Provider
Fiber Optics no
Telecom on Site no
Sewer On Site no
Sewer provider