1251 Highway 50Clermont, FL 34711

Property Details for 1251 Highway 50

Year built

2023

Lot size

2.97 AC

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, single-tenant, absolute NNN leased Portillo's restaurant in Clermont, Florida, within the Orlando MSA. The 7,900 square foot building, constructed in 2023, sits on a 2.972-acre lot and boasts 156 parking spaces. The property enjoys a highly visible location fronting State Highway 50, a major thoroughfare with a daily traffic volume of 66,000 vehicles. This strategic position is further enhanced by its proximity to US Highway 27 (41,500 VPD) and the Florida Turnpike (75,900 VPD), providing excellent accessibility. The property is part of the burgeoning Clermont West retail development, alongside established brands like Mission BBQ, LongHorn Steakhouse, and Bonefish Grill, and future developments including The Goddard School and Extra Space Storage. Its location near Clermont Landing, a thriving community shopping center, and major retailers like Home Depot and Lowe's, underscores its strong position within a high-growth submarket. The current lease, commencing December 21, 2023, and expiring December 31, 2033, offers a remaining term of 9.1 years with 10% rent bumps every five years and four 5-year lease options. The property's strong performance is reflected in its $345,000 NOI and a 5.00% cap rate, based on an asking price of $6,900,000. The ground lease is in place. This is a rare opportunity to acquire a high-performing, net-leased asset in a rapidly expanding area.

Location Insight

City

Clermont

County

Lake

State

Florida

Latitude

28.5465

Longitude

-81.7334

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