Chili's Restaurant 17643 Bruce B Downs Blvd 5,864 SF Retail Building Tampa, FL 33647 $2,550,000 ($434.86/SF) 5% Cap Rate

CBRE is pleased to present for sale a single-tenant Chili’s Grill & Bar located at 17643 Bruce B Downs Boulevard in Tampa, Florida. The investment features a 5,864 SF freestanding building situated on an expansive 1.79-acre parcel. This high-volume location is positioned in the heart of the New Tampa trade area, benefiting from exceptional visibility and traffic counts exceeding 64,000 vehicles per day along the Bruce B Downs Boulevard retail corridor.
The asset is secured by an Absolute NNN Ground Lease, offering an investor a completely passive income stream with zero landlord maintenance responsibilities. This site boasts a remarkably proven track record, with the tenant successfully operating at this location for over 25 years. The current lease structure provides a significant intrinsic value play, as the rent is currently situated well below market at $21.00 per SF. This low basis offers an investor long-term security and substantial future upside in one of Tampa’s most sought-after submarkets. The lease features a primary term through December 2027 with four 5-year renewal options, including structured rent increases that serve as a strong hedge against inflation.
Strategically positioned, the property is located just down the street from the James A. Haley Veterans’ Hospital and the University of South Florida (USF), which provide a constant influx of daytime traffic. It sits directly within a premier retail hub alongside major national brands including Home Depot, Sportsman’s Warehouse, Dunkin’, Panera Bread, and Chipotle. This dense concentration of retail, combined with nearby high-income residential neighborhoods featuring an Average Household Income of $139,937, ensures a consistent and captive customer base for the tenant.
Investment Highlights