For Sale
$1,635,000

3770 Ulmerton RdClearwater, FL 33762

High-traffic, Net-Leased QSR

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,415 square foot Burger King located at 3770 Ulmerton Rd, Clearwater, FL 33762. Built in 2019, this single-tenant, net-lease property boasts a 100% occupancy rate and a strong NOI of $95,117, representing a 5.82% cap rate. The asking price is $1,635,000 ($478.77/sq ft). Situated on a 0.92-acre lot at a highly visible, lighted intersection, the property benefits from exceptional daily traffic counts of nearly 86,000 vehicles on Ulmerton Road, a major thoroughfare connecting to the busiest bridge in the Tampa MSA. The location is further enhanced by its proximity to the St. Pete-Clearwater Airport, which saw over 2.5 million passengers in 2023, representing a 10.4% increase since 2019. The strong demographics include a daytime population of 93,000 within a 3-mile radius and 104,000 people within a 10-minute drive. Pinellas County, known for its high population density and robust tourism sector ($6.6 billion in tourism spending in 2023), provides a stable and growing market. The Burger King franchisee has operated at this location for nearly 40 years, demonstrating long-term stability and commitment. The property features rent bumps, and the tenant's sales generate a healthy 7.5% rent-to-sales ratio. This is an absolute NNN ground lease with no landlord responsibilities and potential upside through percent rent.

Highlights

  • Ultra-low ground rent; Burger King has operated at this location for nearly 40 years.
  • High-traffic corner location on Ulmerton Rd, with 86,000 vehicles per day.
  • Modern building; tenant completed a full renovation in 2019.
  • Strong tenant sales; resulting in a healthy 7.5% rent-to-sales ratio.
  • Absolute NNN ground lease; no landlord responsibilities, with potential upside through percentage rent.
  • Excellent location near St. Pete-Clearwater Airport (over 2.5 million passengers in 2023, a 10.4% increase since 2019).

Property Details for 3770 Ulmerton Rd

Property type
Retail properties
Square Feet
3,415 SF
Year Built
2019
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.893421150487
Longitude
-82.684718128794
3770 Ulmerton Rd, Clearwater, Florida

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3770 Ulmerton Rd
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