20133 Cortez BlvdBrooksville, FL 34601

Property Details for 20133 Cortez Blvd

Year built

2021

Construction

CONCRETE

Lot size

1.36 AC

Property size (Sq ft)

3,755 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

R28-422-19-0000-0070-0060

APU

R2842219000000700060

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,056,487

  6.5%

  $975,219

  7%

  $905,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,728,155

  Geo Method

  $1,728,155

• Alternative Use

  Use

  Valuation

  Residential

  $822,634

  Hospitality

  $753,528

  Educational

  $626,926

  Medical

  $648,487

  Retail

  $975,219

Location Insight

City

Brooksville

County

Hernando

State

Florida

Latitude

28.5398

Longitude

-82.4006

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].