For Sale
$2,525,000

20133 Cortez BlvdBrooksville, FL 34601

High-performing IHOP, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,077 square foot IHOP restaurant situated on a 1.4-acre lot in Brooksville, Florida. The property boasts a 15-year absolute NNN lease, commencing August 1, 2021, and expiring July 31, 2036, with 11.7 years remaining. The lease includes six 5-year renewal options and features annual rent bumps of 1%. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $130,573, yielding a 5.17% cap rate on the $2,525,000 asking price. Built in 2021, this single-tenant property is operated by a top-performing franchisee. Its prime location in Brooksville, less than an hour from the Tampa MSA, benefits from high visibility on a busy intersection with over 60,000 average daily traffic. The surrounding area includes a dense concentration of major national retailers such as Walmart, Lowe's, Publix, Winn-Dixie, AutoZone, CVS, and Wawa, ensuring consistent customer traffic. This is a passive investment opportunity with no landlord responsibilities, offering a secure and profitable return for years to come. The property is categorized as QSR/Fast Food and Restaurant.

Highlights

  • Absolute NNN lease, no landlord responsibilities.
  • Annual rent increases of 1%.
  • Tenant is a best-in-class franchise with over 150 locations.
  • Excellent Tampa metro area location.
  • Over 11 years remaining on the lease.
  • High visibility with over 60,000 daily vehicles passing by.

Property Details for 20133 Cortez Blvd

Property type
Retail properties, Restaurants
Square Feet
6,077 SF
Year Built
2021
Lot Size (sq. ft)
60,984 SF

Location Insight

City
Brooksville
County
Hernando
State
Florida
Latitude
28.539493557156
Longitude
-82.400632763338
20133 Cortez Blvd, Brooksville, Florida

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20133 Cortez Blvd
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