Lowest cap rate over past 24 months
12 mo avg with 5+ yr lease term
Average Sale Price | $3,271,454 |
Average NOI | $174,368 |
Building SF | 3,000 - 4,000 |
Lease Term | 15 - 20 Years Years |
Escalations | 10% Every 5 Years |
Stock Symbol | N/A |
Dedicated to superior quality fast-casual dining, PDQ originated back in 2011 by Nick Reader (of MVP Holdings) and Bob Basham (of Outback Steakhouse fame). Interestingly enough, there is a relatively unknown trivia behind the company name itself. It’s a form of a double entente and acronym combined, meaning both “Pretty Darn Quick” and “People Dedicated to Quality”. Averaging near seventy five employees per location, they believe in over-delivering when it comes to Southern hospitality.
With open area design inside their restaurants, customers can see food preparation in action, with made-from-scratch sauces and no microwaves in sight. Customers will also find all menu items below ten bucks, and typical orders will average substantially less. PDQ offers everything from fresh chicken, salads, sandwiches, delicious fries to tasty milkshakes. In fact, the quick service chain prides themselves on 2 minute dishes without sacrificing on healthy ingredients.
PDQ is on track to expand, opening store #54 in NJ and targeting new markets in FL, NV, UT, and AZ. Upon opening the first restaurant in Tampa, FL, they quickly found success in their home state and nearby states spreading to GA, AL, SC, NC, TX, and NV.
As to real estate figures, approximately 4/5 of all PDQ’s are company owned and run, while the rest are franchised. Each storefront averages about one million dollars in advance, however PDQ has plans to optimize this cost by well over 100k for new properties.
In 2014, they were nationally recognized by Nation’s Restaurant News for their business model, with awards by others publications such as Restaurant Business Magazine. Given their rapid growth, it should be no surprise to see this continue in the future.
Founded | 2011 |
Headquarters | Tampa, Florida |
Number of Locations | 56 |
Revenue | N/A |
Company Website | https://www.eatpdq.com/ |
Key Principal | Nick Reader |