10377 County Line Rd Spring Hill, FL 34609-5623
- Auto shops
- 3,000 SF
- 0.59 lot acres
Current Use by Public Records
- Auto shops
Property Details for 10377 County Line Rd
- Year built
- 2000
- Construction
- BRICK
- Lot size
- 0.59 lot acres
- Property size
- 3,000 SF
- Property type
- Auto shops
- APN
- R31-223-18-3522-00C0-0000
- APU
- R3122318352200C00000
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new (2024) Chipotle restaurant located at 10377 County Line Rd, Spring Hill, FL 34609. The property boasts a 2,489 square foot building situated on a 0.59-acre lot within the Seven Hills Center, a thriving neighborhood center anchored by Publix and featuring other national tenants like Starbucks and UPS. This single-tenant, absolute NNN lease with Chipotle Mexican Grill, Inc. (NYSE: CMG) offers a secure, long-term investment with a rare 20-year initial term and four 5-year renewal options. The lease includes a 10% rent increase every five years, providing built-in protection against inflation and significant NOI growth. The property benefits from a strong location, less than half a mile from Tampa General Hospital - Spring Hill, and is surrounded by several residential neighborhoods, ensuring consistent customer traffic. The asking price is $4,442,000, representing a 4.30% cap rate and a current NOI of $191,000. The 100% occupancy and credit-rated tenant provide exceptional stability and confidence in this investment. The property's demographics are equally compelling, with a 5-mile trade area boasting over 107,000 residents and 16,000 employees, and an average household income exceeding $81,115 within a 1-mile radius. Spring Hill's population is experiencing robust growth, projected to increase by 5.5% between 2025 and 2030. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,110,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,825,000
- 6.5%
- $4,045,000
- 7%
- $3,765,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,565,000
- Geo Method
- $3,775,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,335,000
- Retail
- $4,575,000
- Mixed-Use
- $3,630,000
- Hospitality
- $4,105,000
- Educational
- $3,490,000
- Residential Income
- $4,795,000
- Energy
- $3,995,000
- Income-Based Land
- $4,120,000
- Food Service
- $3,850,000
Location Insight
- Map
- Local Demand
- City
- Spring Hill
- County
- Hernando
- State
- Florida
- Longitude
- -82.5468
- Latitude
- 28.4343
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
