IHOP Breakfast &
For Sale
$1,695,000
13100 US-301, Dade City, FL 33525
Restaurant building under an absolute net lease along US-301 in Dade City, Florida.
Property Size5,304 SF
Lot Size0.97 Acres
Price / SF$319.57
Days on Market109
Property Features for 13100 US-301
General Information
Standard status
Active
Size
5,304 SF
Lot size
0.97 Acres
Property subtype
Restaurant
Lease Type
Absolute Net
Site & Location
Traffic Count
29,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
6%
Amenities
Below Market Rent - $19/SF which is below the average of $40/SF for similar assets in the area
High Growth Tampa MSA - Tampa–St. Petersburg–Clearwater MSA, one of the largest metropolitan areas in the Southeast with a population of approximately 3.42 million.
Profitable Location - While the tenant is not required to report sales, Placer.ai estimates the location generates approximately $1.5 million in annual sales, reflecting a healthy rent-to-sales ratio
Top Tier Operator - Sunshine Restaurant Partners, is one of the largest IHOP franchisees in the United States with over 153+ Restaurants, bringing institutional-quality tenancy to this investment.
Building Details
Building Size
5,304 SF
Buildings
1
Listing Agency:
(786) 522-7037
Listed By:
Debra Franklin · License #License(s): FL: SL3282650
(786) 522-7037
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 5:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Debra Franklin
Investment Insights
Based on property information with market context.
The property comprises a 5,304-square-foot IHOP restaurant on 0.97 acres at 13100 US-301 in Dade City, Florida. The asset is leased under an absolute net structure, with four five-year renewal options and rent escalations specified in the lease terms.
The restaurant occupies frontage along US Route 301, which carries nearly 29,000 vehicles per day. It is located within the Tampa–St. Petersburg–Clearwater MSA and is backed by Sunshine Restaurant Partners, an IHOP franchisee with more than 150 locations in the United States.
The restaurant occupies frontage along US Route 301, which carries nearly 29,000 vehicles per day. It is located within the Tampa–St. Petersburg–Clearwater MSA and is backed by Sunshine Restaurant Partners, an IHOP franchisee with more than 150 locations in the United States.
Key Highlights
- 5,304 SF IHOP restaurant on 0.97 acres
- Absolute net lease structure
- Four 5‑year renewal options with rent escalations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,954
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,179,080
$1.2M
Cap Rate 7%
$842,200
$842.2K
Cap Rate 9%
$655,044
$655.0K
Market Conditions
NOI Build-Up for 5,304 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.7K $15.60/SF
− Vacancy
−$4.1K −$0.78/SF
EGI
$78.6K $14.82/SF
− OpEx
−$19.7K −$3.70/SF
NOI
$59.0K $11.11/SF
Area
Pasco County, FL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,179,080
Cap Rate 7%
$842,200
Cap Rate 9%
$655,044
Alternative Uses
Best Use
Specialty Retail
$842.2K
$736.9K – $982.6K
NOI $58,954 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,575 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33525, FL
18,620
Population
8,700
Households
2.1
Avg Household Size
48
Median Age
28%
College-Educated
90%
High-School Grad
96.0 sq mi
ZIP Area
194
Density / Sq Mi
$69,697
Median Household Income
$42,178
Median Earnings
$1,045
Median Rent
$228,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Smitty's Smokehouse & Grill — 12830 US-301, Dade City, FL 33525
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Restaurant building under an absolute net lease along US-301 in Dade City, Florida.
Where is this breakfast & diner located?
The property is located at 13100 US-301 Dade City, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 5,304 SF IHOP restaurant on 0.97 acres; Absolute net lease structure; Four 5‑year renewal options with rent escalations
