Clermont, FL - Zaxby's

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, drive-thru equipped Zaxby’s investment property located in Clermont, Florida. The tenant has over 12 years remaining in their initial lease term with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The Zaxby’s is located along FL-50, which averages 56,500 vehicles passing by daily and is a major retail thoroughfare serving the city of Clermont (Orlando MSA). The asset is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is located just down the road from Clermont Town Center, a 212,000 square foot shopping center with major tenants including The Home Depot, Publix, and more. In addition, the site is located just northwest of Clermont College Station, a 119,000 square foot shopping center anchored by Office Depot and Petco. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s Home Improvement, Dick’s Sporting Goods, HomeGoods, T.J. Maxx, Michaels, Target, ALDI, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a population of over 105,700 with an affluent average household income of $118,249.