9925 Us-441 Leesburg, FL 34788

Property Details for 9925 Us-441

Year built

2024

Lot size

1.70 lot acres

Property size

5,711 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This offering presents a unique opportunity to acquire the leased fee interest (land ownership) in a newly constructed, freestanding Chick-fil-A restaurant in Leesburg, Florida. The property boasts a brand new 15-year absolute NNN lease with a corporate guarantee from Chick-fil-A, Inc., commencing April 1, 2024, and expiring April 1, 2039. The lease includes 13 five-year renewal options, ensuring long-term stability and predictable cash flow. Ten percent rental increases are built into the lease every five years, providing a hedge against inflation and steadily growing net operating income (NOI). The 5,711 square foot building features a drive-thru and is situated on a 1.7-acre lot with 61 parking spaces. The property benefits from its location near the signalized intersection of US Hwy 441 and Radio Rd., boasting a combined 45,300 vehicles per day. This high-traffic area is further enhanced by its proximity to Lake Square Mall, a 728,000 square foot regional mall, and numerous other national and credit tenants, creating strong tenant synergy and increased consumer draw. The 5-mile trade area is densely populated, with over 45,000 residents and 19,000 employees, and boasts an average household income of $76,683 within a 1-mile radius. The property's permitted zoning is Highway Commercial, and the current NOI is $158,308, representing a 4.15% cap rate and a price per square foot of $668.01. This investment offers a compelling combination of a strong tenant, a long-term lease, built-in rent increases, and a prime location in a thriving retail corridor. The asking price is $3,815,000.

Location Insight

City

Leesburg

County

Lake

State

Florida

Longitude

-81.7915

Latitude

28.8254