991 Main StInverness, FL 34450

Property Details for 991 Main St

Year built

2023

Lot size

0.94 AC

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 2,493 square foot Chipotle restaurant featuring a Chipotlane drive-thru, located at 991 W Main St, Inverness, FL 34450. Boasting a 15-year absolute NNN lease commencing July 25, 2023, and expiring July 31, 2038, this property offers a strong remaining lease term of 13.7 years. The tenant, Chipotle, is credit-rated, ensuring financial stability. The property sits on a 0.94-acre lot and benefits from a strategic location at the signalized intersection of W. Main Street and US Hwy 41, experiencing high daily traffic volume averaging 57,200 vehicles. Its prime position across from the high-performing Publix Super Market Plaza Inverness, anchored by tenants such as Panera Bread, Mattress One, and AT&T, further enhances its visibility and desirability. The lease includes 10% rent bumps every five years, providing consistent growth potential. With a current NOI of $182,000 and an asking price of $4,183,000, this property offers a compelling 4.35% cap rate. The property is part of a growing submarket in the corridor between Tampa, Ocala, and The Villages, with limited competition for casual dining, creating a significant consumer draw. Four 5-year lease options provide additional long-term security. This is a rare opportunity to acquire a high-quality, passively managed investment with a nationally recognized tenant in a thriving location.

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.836

Longitude

-82.3428

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