Investment Highlights
STRONG REAL ESTATE FUNDAMENTALS
- Rare Beach Front Investment
- High Barriers to entry
- Destination Resort Area which hosted over 662,900 visitors in 2021, generating economic impact of $714,715,700.
- Walking distance to over 376 hotel rooms, including Marriot Courtyard and Spring Hill Suites (239 rooms) completed in March 2021
- The restaurant can accommodate almost 350 guests at its three bars, upstairs and downstairs dining rooms, and the indoor and outdoor music venues
- Located in Nassau County, 4th fastest growing county in Florida
- Affluent and growing local market and with strong tourist demand
OPTIMAL LEASE STRUCTURE
- Absolute NNN 20-year base term lease
- 10% rent escalations every 5 years throughout entire lease
- Rent based on 8% 2021 Gross Sales
- 3.35 Rent Coverage Ratio based on 2021 EBITDAR
- Two (2), 10 year renewal options
- Triple Net (NNN) lease with no landlord responsibilities
EXISTING PROFITABLE OPERATION – EXPERIENCED, VETERAN OPERATING TEAM
- Operator’s principals have an average of 25 years of experience and have owned and operated more than 130 restaurants representing 26 brands in 19 states
- Operator currently owns and operates 31 restaurants in the Southeastern U.S., including 16 located in coastal and beachfront communities
- Operator’s principals were previously instrumental in assembling and operating a portfolio of 98 casual, fast casual, polished casual, steakhouse, seafood, and fine dining restaurants comprised of 13 different brands operatingin 17 states as part of a consolidation strategy for a single private investor
NASSAU COUNTY
- 4th fastest growing county in Florida
- Located within 750 miles of 13 major US Cities, easily accessible to Jacksonville International Airport.
- 1,666,836 people within a 90-minute drive
- 4.92% Population Growth in 2020 – 2021
- Forecasted Growth of 36% over the next ten years
AMELIA ISLAND
- Premier travel destination known for its luxury resorts, golf courses and numerous sandy beaches.
- Hosted over 662,900 visitors in 2021 with an economic impact of $715,715,700
- Average Household Income of guests equaled $135,105
- Resident Population (±) 38,139
- AHHI (±): $116.439
FERNANDINA BEACH
- Nassau County’s largest municipality and county seat
- Birthplace of the modern shipping industry at the nearby Port of Fernandina
- Historic District featuring shopping in downtown waterfront setting, 400 historic homes and regulation to control development
- Host to the Isle of Eight Flags Shrimp Festival drawing 100,000 people each May
- Visitors can visit the light house at Fort Clinch along with the pristine beaches within this 1,400-acre State Park
- Resident Population (±) 20,687 (5-mi)
- AHHI (±): $103,741 (5-mi)
- 6.54% Population Growth 2000-2010
- 6.04% Forecasted Population Growth 2021-2026