Zaxby’s Brooksville,Florida

$3,081,500
Property type:Single-Tenant Net Lease

The space

  • Price: $3,081,500
  • Rentable Square Feet: 2,931
  • Annual Rent: $184,897
  • Land Area: 0.73 Acres
  • Year Built: 2020
  • Lease Guarantor: Swamp Dawg, LLC
  • Lease Type: NNN
  • Lease Term: 20 Years
  • Option Periods: 4, 5-Year Options
  • Rent Increases: 8% Every 5 Years
  • Lease Expiration: 2/29/2040

Description

837 South Broad Street
Brooksville, FL 34601

Investment Highlights

  • Brand New Construction; Opened February 2020
  • 20-Year, Triple Net (NNN) with Four, Five-Year Renewal Options
  • Eight Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Franchisee is a Multi-Unit Zaxby’s Operator with Almost 20-Years Experience in the Zaxby’s System
  • Surrounding National Retailers Include Walmart Supercenter, Lowe’s, Publix, Winn Dixie, Bealls, Big Lots, Save-a-Lot, Advance Auto Parts, AutoZone, 7-Eleven, Walgreens, CVS, Applebee’s, McDonald’s, Burger King, Wendy’s, Pizza Hut, Popeyes, Dunkin Donuts and Many More
  • Part of the Tampa-St. Petersburg Metro Area Which Contains Roughly 3.1 Million Residents

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a new Zaxby’s located in Brooksville, Florida. This is a brand new Zaxby’s location, opened in early 2020. The tenant has a new 20-year, triple net lease and offers four, five-year renewal options. There are eight percent rent increases every five years throughout the base term and option periods. The tenant is a franchisee and a multi-unit Zaxby’s operator with nearly 20-years of experience in the Zaxby’s system.

The subject property is located off Broad Street with a daily traffic count of 24,000 vehicles. One half mile from the subject property is Cortez Boulevard/State Road 50, which is one of the major roadways in the area with more than 25,000 vehicles per day. Surrounding national retailers in the area include Walmart Supercenter, Lowe’s, Publix, Winn Dixie, Bealls, Big Lots, Save-a-Lot, Advance Auto Parts, AutoZone, 7-Eleven, Walgreens, CVS, Applebee’s, McDonald’s, Burger King, Wendy’s, Pizza Hut, Popeyes, Dunkin Donuts and many more.

Brooksville, Florida is part of the Tampa-St. Petersburg metro area, where the local population will expand to approximately 3.2 million residents through 2024. A low cost of living and economic development brings a thriving business landscape to the Tampa Bay-St. Petersburg metro.

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