Dunkin’ Donuts: Modena, NY
NEW 20-YEAR ABSOLUTE NNN GROUND LEASE
The subject property operates under a brand new 20-year absolute NNN ground lease with no landlord management or maintenance responsibilities whatsoever. The lease provides landlord-friendly rent escalations every 5 years of 10% during the intial term and at each 5-year option period.
ABOVE AVERAGE ANNUAL HOUSEHOLD INCOME
Situated in an area with over 21,000 people living within a five-mile radius and an average annual household income exceeding $87,000
RECENTLY CONSTRUCTED BUILDING WITH DRIVE-THRU
The building was completed in 2017 and features one of the latest Dunkin’ Donuts prototype designs. The building offers an upscale contemporary design complete with a wrap-around drive-thru pick-up window.
HIGHLY FREQUENTED MODENA RETAIL LOCATION
The property is well-located with excellent visibility and access along New York State Route 32, with average daily traffic of 6,400 vehicles per day (VPD). The subject property is strategically situated across from the primary point of ingress and egress for Modena’s Hannaford Supermarket, the only major grocery store serving Modena and surrounding hamlets for several miles.
WELL-ESTABLISHED AND EXPANDING FRANCHISEE
The franchisee has been in the QSR business since 2009. They have successfully managed and held equity interests in a portfolio of 57 Dunkin’ Donuts in New York, New Jersey and Arizona, as well as 29 Taco Bells in New York and Kentucky. The franchisee has over 39 years of combined real estate experience. The lease is guaranteed by ABDD IV LLC (5 +/- unit entity), an ABDD Capital wholly owned entity valued at $5 to $7 million.
(1)Lease information has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, norhas Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the informationprovided. Individuals are strongly advised to take appropriate measures to verify all of the information set forth herein. Buyer must conduct their own Due Diligence.
NY Broker of Record: John Krueger
License: 10311205789
