2535 W Main Street Leesburg, FL 347348
- Drive through restaurants
- 2,016 SF
- 0.44 lot acres
Current Use by Public Records
- Hibachi Jose Restaurant / Restaurant / Japanese Restaurant
- The Crab Stop of Leesburg / Seafood Restaurant
- Coast 2 Coast Seafood & Smokehouse / Restaurant
Property Details for 2535 W Main Street
- Year built
- 2005
- Construction
- WOOD FRAME
- Lot size
- 0.44 lot acres
- Property size
- 2,016 SF
- Property type
- Drive through restaurants
- APN
- 28-19-24-0800-003-01800
- APU
- 281924080000301800
Description
This exceptional investment opportunity presents a fully equipped, 2,016-square-foot restaurant located at 2535 W Main St, Leesburg, FL 34748. The property, built in 2005, sits on a 19,323-square-foot lot and includes 20 parking spaces. Currently operating as Hibachi Jose under a triple-net (NNN) lease with a remaining term of two years (expiring August 1, 2025), the lease features a 3% annual rent bump and a renewal option. The property boasts a strong net operating income (NOI) of $30,000, yielding a compelling 7.92% cap rate at an asking price of $379,000 ($188 per square foot). The restaurant is equipped with a comprehensive array of features, including two built-in smokers, a walk-in cooler, a deep fryer, and a hood vent. Designed for optimal service, it includes a drive-thru window and two walk-up windows. A screened-in patio provides outdoor seating for up to 20 guests. The B-2 zoning allows for various uses. This turnkey operation offers a fantastic opportunity for an investor or owner-operator seeking a profitable venture in a prime Leesburg location. The lease commenced August 1, 2023. The single-story building is situated in Lake County.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $335,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $255,000
- 6.5%
- $250,000
- 7%
- $255,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $285,000
- Geo Method
- $250,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $235,000
- Retail
- $245,000
- Mixed-Use
- $205,000
- Hospitality
- $275,000
- Educational
- $220,000
- Residential Income
- $265,000
- Energy
- $200,000
- Income-Based Land
- $270,000
- Food Service
- $275,000
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.9078
- Latitude
- 28.8127
- CBSA code
- 36740
- CBSA name
- ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA
