For Sale
$2,288,000

1206 Woodland BlvdDeLand, FL 32720

Florida Restaurant, Strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple, 4,670 square foot Denny's restaurant in DeLand, Florida, presents a compelling investment opportunity. Boasting a 6.00% cap rate and a long-term, absolute NNN lease with 12.5 years remaining until May 31, 2037, this property offers significant financial stability. The lease includes 10% rent increases every five years, ensuring consistent income growth. Located on a 1.23-acre lot with excellent visibility on N. Woodland Boulevard (23,000 vehicles per day), the property benefits from high traffic counts and proximity to other national retailers. The experienced franchisee, EYM Diner, has operated multiple Denny's locations since 2012. The property's location within a strong retail corridor, coupled with a dense and affluent population (average household income over $86,600 within one mile), further enhances its appeal. The site's proximity to Stetson University (enrollment over 3,400) provides a substantial customer base. The large lot size offers potential for future development. The property's strong financials, long-term lease, and prime location make it an attractive investment. Built in 1993 and renovated in 2017, this property offers a blend of established success and modern appeal. The Net Operating Income (NOI) is $137,280, and the asking price is $2,288,000.

Highlights

  • 20-year Absolute NNN lease with over 12 years remaining, zero landlord responsibilities.
  • High visibility on N. Woodland Blvd (23,000 VPD) and Mandarin Ave, near E. International Speedway Blvd (27,000 VPD).
  • Experienced Denny's franchisee operating since 2012 in Florida and Texas.
  • Two 10% rent increases remaining in the base lease term.
  • Strong retail location with numerous national co-tenants.
  • Dense population (6,623 within 1 mile, 45,127 within 3 miles, 71,432 within 5 miles) and high average household income (over $86,600 within 1 mile).

Property Details for 1206 Woodland Blvd

Property type
Retail properties, Restaurants
Square Feet
4,670 SF
Year Built/Renovated
1993/2017
Lot Size (sq. ft)
53,579 SF

Location Insight

City
DeLand
County
Volusia
State
Florida
Latitude
29.0490816
Longitude
-81.3045131
1206 Woodland Blvd, DeLand, Florida

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1206 Woodland Blvd
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