McDonald's Fetches $923 PSF

Marcus & Millichap announced the sale of a 3,900-square foot, McDonald’s ground lease in Plantation.
The asset sold for $3,600,000, representing $923 per square foot.
Lori Schneider, Senior Vice President Investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Plantation.

“This ground lease procured a price higher than average rent because of the property’s location in a popular, dense suburban market.  The tenant also has a proven sales history at this location,” says Schneider. Schneider also recently listed and sold two McDonald’s in North Carolina: a 4,449-square foot McDonald’s in Swansboro, NC for $1,100,000 and a 3,300-square foot McDonald’s in Spring Lake, NC for $1,052,632. “The high demand for quality, credit net-leased properties is outpacing the current supply, creating a narrow margin in cap rates in both large and small markets,” she adds.

The McDonald’s is located at 1351 South University Drive in Plantation.