Description

Cancun's Sports Bar & Grill | Sale is a 4,432 SF restaurant investment at 6800 Thomasville Road, Suite 102, in Tallahassee, FL. Its absolute-net lease places property expense responsibilities with the tenant, positioning the sale around an existing income stream.

The restaurant has 50 parking spaces, an important feature for a dining property serving guests throughout the day and evening. Under the 10-year absolute-net lease, the tenant is responsible for taxes, insurance, CAM, roof, and structure. The lease has 9 years remaining, with 12% rent increases every 5 years. A double personal guaranty from a family that owns and operates 26 restaurants adds an operating relationship to the investment story.

On Thomasville Road in Northeast Tallahassee’s Bradfordville corridor, the property sits amid a mix of grocery, general retail, coffee, and dining destinations. Nearby names include Publix, Target, Starbucks, Chick-fil-a, Culver’s, and Ace Hardware. That surrounding retail mix gives the restaurant a setting shaped by multiple reasons to visit the corridor, rather than a location dependent on a single neighboring use.

The asking price is $2,000,000, or $451 PSF, at a 6.24% cap rate. NOI is $124,800, including $124,800 of in-place NOI. For an investor seeking restaurant income, the defining terms are the remaining lease duration, contractual increases, tenant expense obligations, and personal guaranty. The Offering Memorandum offers the next step for reviewing the investment.