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

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