20133 Cortez Blvd Brooksville, FL 34601-3848

Property Details for 20133 Cortez Blvd

Year built

2021

Construction

CONCRETE

Lot size

1.36 lot acres

Property size

3,755 SF

Property type

Turn key restaurants

APN

R28-422-19-0000-0070-0060

APU

R2842219000000700060

Description

This exceptional investment opportunity presents a 6,077 square foot IHOP restaurant situated on a 1.4-acre lot in Brooksville, Florida. The property boasts a 15-year absolute NNN lease, commencing August 1, 2021, and expiring July 31, 2036, with 11.7 years remaining. The lease includes six 5-year renewal options and features annual rent bumps of 1%. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $130,573, yielding a 5.17% cap rate on the $2,525,000 asking price. Built in 2021, this single-tenant property is operated by a top-performing franchisee. Its prime location in Brooksville, less than an hour from the Tampa MSA, benefits from high visibility on a busy intersection with over 60,000 average daily traffic. The surrounding area includes a dense concentration of major national retailers such as Walmart, Lowe's, Publix, Winn-Dixie, AutoZone, CVS, and Wawa, ensuring consistent customer traffic. This is a passive investment opportunity with no landlord responsibilities, offering a secure and profitable return for years to come. The property is categorized as QSR/Fast Food and Restaurant.

Location Insight

City

Brooksville

County

Hernando

State

Florida

Longitude

-82.4006

Latitude

28.5398

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments