Zaxby’s Spring Hill, Florida

$2,985,000
Cap Rate: 6.10%
Under Contract
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.10%
Year Built: 2017
Annual Rent: 182,000
Rentable Square Feet: 3,652
Land Area: 1.07 Acres
Rent/Square Foot: $49.84

Description

Address:

3042 Anderson Snow Road
Spring Hill, FL 34609

Zaxby’s offers a brand new, 20-year, triple net (NNN) lease with four, five-year renewal options and eight percent rental increases every five years in both base term and option periods.   Zaxby’s offers brand new construction, opening in December 2017!

This opportunity presents itself as a stabilized restaurant with great visibility located off of Anderson Snow Road with a traffic count of more than 16,000 vehicles per day.  The nearby intersection experiences high daily traffic counts exceeding approximately 31,000 vehicles per day.   Zaxby’s benefits from being well-positioned in a highly dense retail corridor,  major national retailers in the area include Publix, Target, Walmart Neighborhood Market, Advance Auto Parts, Walgreens, Kohl’s, Pep Boys, Sprint, Subway, McDonald’s, Taco Bell, Starbucks and many more.

Situated in Spring Hill, Zaxby’s offers attractive demographics.  Spring Hill is part of the Tampa-St. Petersburg-Clearwater MSA.  It is also the home to the new 100,000-square foot campus of Pasco–Hernando State College, Spring Hill Campus.  The property is just 12 miles from Hernando Beach and 30 Miles North of Tampa and the University of South Florida.

Zaxby’s has more than 700 locations in 16 states.  The company is headquartered in Athens, Georgia and was founded by childhood friends, Zach McLeroy and Tony Townley.  The franchisee is a multi-unit Zaxby’s operator.

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