991 Main St Inverness, FL 34450
- Retail properties
- 0.94 lot acres
Current Use by Public Records
- Retail properties
Property Details for 991 Main St
- Year built
- 2023
- Lot size
- 0.94 lot acres
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, 2,493 square foot Chipotle restaurant featuring a Chipotlane drive-thru, located at 991 W Main St, Inverness, FL 34450. Boasting a 15-year absolute NNN lease commencing July 25, 2023, and expiring July 31, 2038, this property offers a strong remaining lease term of 13.7 years. The tenant, Chipotle, is credit-rated, ensuring financial stability. The property sits on a 0.94-acre lot and benefits from a strategic location at the signalized intersection of W. Main Street and US Hwy 41, experiencing high daily traffic volume averaging 57,200 vehicles. Its prime position across from the high-performing Publix Super Market Plaza Inverness, anchored by tenants such as Panera Bread, Mattress One, and AT&T, further enhances its visibility and desirability. The lease includes 10% rent bumps every five years, providing consistent growth potential. With a current NOI of $182,000 and an asking price of $4,183,000, this property offers a compelling 4.35% cap rate. The property is part of a growing submarket in the corridor between Tampa, Ocala, and The Villages, with limited competition for casual dining, creating a significant consumer draw. Four 5-year lease options provide additional long-term security. This is a rare opportunity to acquire a high-quality, passively managed investment with a nationally recognized tenant in a thriving location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Inverness
- County
- Citrus
- State
- Florida
- Longitude
- -82.3428
- Latitude
- 28.836
