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1403 N Woodland Blvd 2,415 SF Retail Building Deland, FL 32720 $1,067,000 ($441.82/SF) 5.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Well Established Location: Successfully operating in this location for 50+ years.
- Short-term NNN Lease with Upside Potential: 4 years remaining with no option periods. Tenant has previously extended the lease four times.
- Absolute NNN Lease: No landlord responsibilities.
- Large YUM! Brands Franchisee: Own and operates 102 Pizza Hut locations in Central Florida, 40 Taco Bells and 7 KFCs.
- Strong Rent Bumps: 4% annual rent increases.
- Tenant Committed to Location: Tenant recently replaced the roof and signed a 5-year extension.
EXECUTIVE SUMMARY
Simaan Real Estate is pleased to exclusively offer the opportunity to acquire the 100% fee simple interest in an absolute net leased Pizza Hut, strategically located on US-92 (N. Woodland Boulevard) in Deland, Florida, 30 miles North of Orlando. The subject property is within Deland’s most dense retail corridor and has excellent exposure with convenient ingress/egress.
This investment property offers stable income with scheduled annual increases, supported by a strong tenant and a favorable retail submarket. Pizza Hut has successfully operated at this location for over 50 years with multiple lease extensions and the tenant recently replaced the roof, demonstrating their commitment to the property. The absolute NNN lease structure is very desirable for passive real estate investors looking for no landlord responsibilities.
This investment property offers stable income with scheduled annual increases, supported by a strong tenant and a favorable retail submarket. Pizza Hut has successfully operated at this location for over 50 years with multiple lease extensions and the tenant recently replaced the roof, demonstrating their commitment to the property. The absolute NNN lease structure is very desirable for passive real estate investors looking for no landlord responsibilities.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,415 SF
Building Class
C
Year Built
1972
Price
$1,067,000
Price Per SF
$441.82
Cap Rate
5.65%
NOI
$60,278
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.49 AC
Zoning
05C-2 - General Commercial
Parking
30 Spaces (12.42 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7004-02-04-0053 | Improvements Assessment | $289,228 |
| Land Assessment | $167,969 | Total Assessment | $457,197 |
PROPERTY TAXES
Parcel Number
7004-02-04-0053
Land Assessment
$167,969
Improvements Assessment
$289,228
Total Assessment
$457,197
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1403 N Woodland Blvd
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