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FAST FOOD TENANT REPORT:
Taco Bell
Last Update: August 14, 2020
5.44% CAP
2019 AVERAGE CAP RATE
5.56% CAP
2018 AVERAGE CAP RATE
LEASE GUARANTY
Corporate & Franchisee
AVERAGE SALES / UNIT
$1,600,000 / Unit
TOTAL NUMBER UNITS (USA) 
3,987 Units
AVERAGE BUILDING SIZE
2,500 SF
AVERAGE SALES PRICE
$2,095,187
TOP STATE WITH UNITS
California (14%)
CREDIT RATING
MODERATE
AVERAGE NOI (RENT)
$114,825 / Year
AVERAGE LEASE TERM
15 Years 
Rating by Moody's: Ba2
LOCATIONS MAP
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TENANT PROFILE

Taco Bell is an American Chain of Fast Food Restaurants based out of Irvine, CA. It is also considered the largest taco and burrito restaurant chain in the world. The business is a subsidiary of YUM! Brands, Inc (Pizza Hut, KFC). The restaurants serve a variety of Mexican inspired foods that include tacos, burritos, quesadillas nachos, novelty, and specialty items with their variety of “value menu” items. The company was founded in 1964 Glen Bell in Downy, CA where the company has grown to approx. 7,000+ stores of which 93% are independently owned and operated by Franchisees. Like other fast-food brands, Taco Bell offers unique options in different countries, such as the Chicken Tikka Masala burrito in India and the Kimchi Quesadilla in Korea. Vegan and vegetarian options can also be found at the fast-food chain known for its witty social media personality and creative campaigns.

MARKET UPDATE

This tenant report has been prepared to provide summary, unverified financial and physical information about the subject tenant and to establish only a preliminary level of interest on the tenant or industry. The information contained herein is not a substitute for a thorough investigation. Marcus & Millichap, The Naran Group, or Neil Naran has not made any investigation, and makes no warranty or representation with respect to the information provided within this report, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this report has been obtained from sources we believe to be reliable; however, Marcus & Millichap, The Naran Group, or Neil Naran has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap, The Naran Group, or Neil Naran conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. By reviewing this report you agree to release Marcus & Millichap, The Naran Group, or Neil Naran and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or review of this report. 

OTHER TENANT PROFILES
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