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METRO DINER NNN OUTPARCEL 2660 SE FEDERAL HIGHWAY, STUART FL 34994
3,721 SF | 5.5 CAP | 2% INCREASES
EXCLUSIVELY MARKETED BY
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL
WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO
WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY
HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
METRO DINER NNN OUTPARCEL
PRESENTED BY:
Jeremiah Baron | Broker
Jeremiah Baron & Co.
49 SW Flagler Ave. Suite 301 | Stuart FL, 34994
P: 772-528-0506
E: jbaron@commercialrealestatellc.com
FL License No. BK3020087
TABLE OF CONTENTS
4 PROPERTY SUMMARY
5 INVESTMENT HIGHLIGHTS
6 PROPERTY DETAILS
7 PROPERTY OVERVIEW
8 DEMOGRAPHICS
9 AERIAL(S) | FLOOR PLAN
13 TENANT PROFILE
4
PROPERTY SUMMARY
Jeremiah Baron & Co. is pleased to present an exceptional triple net lease
investment opportunity of a brand new Metro Diner outparcel located in the newly
built shopping center known as Baron Shoppes in Stuart, Florida.
As a net lease investment - the Tenant shall reimburse the Landlord for all
expenses associated with the building. The 3,721 square foot building sits on +/- 1
acre plus cross access and parking to the adjacent 5 acre shopping plaza that
consists of National and Regional brands such as Moe’s Southwest Grill, Firehouse
Subs, Eyeglass World, Great Clips, Jupiter Medical, and more.
The subject property is ideally located along SE Federal Highway with 46,900 cars
per day, and features two prominent monument signs which provide great
visibility. The site is adjacent to Regency Square Shopping Center, which features
Stein Mart and Regency 8 Cinemas.
The City of Stuart sits along Florida’s Treasure Coast as part of the Port St. Lucie
MSA. The area features economy driven by the retail service, hospitality,
construction and government sectors. Stuart provides quick access to nearby
metropolitan centers Fort Pierce and West Palm Beach via US-1.
5
INVESTMENT HIGHLIGHTS
STRONG TENANT LINEUP | BRAND NEW LONG TERM NNN LEASE
Metro Diner and the surrounding tenants have signed 10 year NNN leases which demonstrates the long term commitment to the
site.
BRAND NEW 2018 CONSTRUCTION
Completion of the site back in April of 2018. Building features a modern façade and building structure of high caliber.
SIGNIFICATNT FRONTAGE ALONG SE FEDERAL HIGHWAY
Excellent location along SE Federal Highway (US-1) with 46,900 cars per day. Features two highly visible monument signs.
STRONG INCOME GROWTH
2% annual rental increases
PRIMARY RETAIL CORRDIOR WITH SIGNIFICANT NATIONAL TENANT PRESENCE
National tenants in the immediate area include The Home Depot, Walmart, TJ Maxx, Walgreens, and many others!
DENSE POPULATION IN A 5-MILE TRADE AREA
More than 10,000 residents and nearly 58,000 employees support the trade area; Affluent $86,000 average household income
6
OFFERING
PRICE $2,070,229
NOI $113,862.60
LEASE TYPE NNN
LEASE TERM 10 Years (Expires April 2028)
CAP RATE 5.5
ANNUAL INCREASES 2%
PROPERTY DETAILS
PROPERTY SPECIFICATIONS
BUILDING SIZE 3,721 sf
ACREAGE +/- 1 AC
FRONTAGE +/- 180
YEAR BUILT April 2018
CONSTRUCTION TYPE CBS
PARKING SPACE Open
ZONING B2 - Business General
LAND USE Shopping Center
7
PROPERTY OVERVIEW
ACCESS SE Federal Hwy / US-1 (2 Access Points)
TRAFFIC COUNTS
46,900 ADT (SE Federal Hwy)
28,500 ADT (SE Monterey Rd)
IMPROVEMENTS 3,721 SF
PARKING Open
YEAR BUILT 2018
ZONING B2- Business General
P
31
Z
8
DEMOGRAPHICS
1 Mile 3 Mile 5 Mile
2017 Estimated Population 5,259 47,309 100,514
2017 Projected Population 5,453 49,191 105,128
2010 Census Population 4,957 44,898 94,934
2017 Estimated HH 2,054 20,969 45,175
2022 Estimated HH 2,135 21,761 47,151
2010 Census HH 1,961 20,050 42,878
2017 Estimated White 76.95% 88.04% 91.22%
2017 Estimated Black or African American 14.00% 6.93% 4.90%
2017 Asian or Pacific Islander 1.33% 1.54% 1.45%
2017 Estimated American Indian or Native Alaskan 1.45% 0.83% 3.94%
2017 Estimated Hispanic 27.38% 18.32% 12.28%
2017 Estimated Average HH Income $56,536 $77,417 $86,391
2017 Estimated Median HH Income $38,097 $50,218 $54,248
2017 Estimated Per Capita Income $27,212 $34,943 $39,352
2016 Estimated Total Businesses 773 3,897 5,700
2016 Estimated Total Employees 8,733 42,931 58,121
9
10
11
12
13
TENANT PROFILE
Since its humble beginnings in 1938 and its revival in 1992, Metro Diner has been Jacksonville’s
favorite place for breakfast for nearly 25 years. Known for warm, welcoming service, familiar
faces, and award-winning food, Metro Diner is a go-to eatery for locals and visitors alike. Metro
Diner has more than 40 locations, either currently open or coming soon,
throughout nine states and looking to continue to expand. The company is being
led by Chris Sullivan and Hugh Connerty.
Chris is the former Co-Founder, Co-Chairman and CEO of Outback Steakhouse and OSI Restaurant Partners Inc. Chris participated in Outback’s $3.5
billion acquisition by Bain Capital in April 2007. Chris began his career at Steak and Ale and led the company’s rapid expans ion of Bennigan’s. Owned
~5.5% of Bloomin’ Brands (BLMN) at the time of its IPO in August 2012. In 1994 Sullivan along with other founders of Outback were awarded the
Entrepreneur of the Year Award by Ernst & Young.
Connerty is the former Managing Partner of Outback Steakhouse Int. and Outback Steakhouse’s first franchisee. Hugh was the fo under of Longhorn
Steakhouse, and founder of Hooters of America. Hugh is a member of the Advisory Board of the Goizueta School of Business at E mory University and
served on the President’s Council of the BePy Ford Center.
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