5877 State Hwy 100 Palm Coast, FL 32164
- Retail properties
- 5,780 SF
- 1.61 lot acres
Current Use by Public Records
- Retail properties
Property Details for 5877 State Hwy 100
- Year built
- 2024
- Lot size
- 1.61 lot acres
- Property size
- 5,780 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 5,780-square-foot LongHorn Steakhouse in Palm Coast, Florida. Located on 1.61 acres with 116 parking spaces, this Class A property is part of the Cornerstone at Seminole Woods shopping center, anchored by BJ's Wholesale Club and featuring other national tenants. The absolute NNN lease with LongHorn (a Darden Restaurants brand) boasts a 10-year term commencing November 1, 2024, with four 5-year options and a 10% rent increase every five years. The property offers a strong NOI of $195,000 and a 5.00% cap rate, reflecting the desirability of this rapidly growing market. Palm Coast is experiencing significant population growth, ranking as one of Florida's fastest-growing cities, and this location benefits from its proximity to major amenities including a hospital and high school. The asking price is $3,900,000, translating to $674.74 per square foot. This is a rare chance to acquire a high-performing, low-maintenance investment in a thriving Florida market with no state income tax. The building was constructed in 2024 and sits on a single story. The property is 100% occupied as of November 1, 2024.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palm Coast
- County
- Flagler
- State
- Florida
- Longitude
- -81.1964
- Latitude
- 29.4755
