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7643 Gall Blvd
Zephyrhills, FL 33541
Chili's Grill & Bar · Retail Property For Sale
Investment Highlights
- Property is located along Gall Blvd, a rapidly growing retail corridor in the Lakeland MSA, and is an outparcel to a Walmart Supercenter
- Absolute NNN lease with no landlord obligations and 1.5% annual rent increases during the base term
- Corporate Guaranty - Brinker International (NYSE: EAT) Credit Rating "BB+" - S&P
- The property's proximity to major highways, including US-301 and State Road 54, provides convenient access for customers and employees.
Executive Summary
Collison Capital is pleased to present an absolute NNN leased Chili’s Grill & Bar located at 7643 Gall Blvd in Zephyrhills, FL, a rapidly expanding northern suburb of the Tampa MSA. The Zephyrhills/Pasco County submarket has experienced amongst the highest population growth over the last 5 years, increasing by 5% annually between 2020 and 2029. Cumulatively, the current & future growth is expected to yield a stunning 46% submarket household formation increase.
Built in 2003, the property comprises 4,468SF on 1.04 acres at the entrance to a Walmart Supercenter. The Chili's provides an investor the opportunity to acquire an exceptionally well located asset that is leased to a strong publicly traded tenant (Brinker International). This Chili's is subject to a 15-year absolute NNN lease w/ 7.5 years of base term remaining and 6 5-year options. During both the base term and extension periods there are 1.5% annual rent increases.
Built in 2003, the property comprises 4,468SF on 1.04 acres at the entrance to a Walmart Supercenter. The Chili's provides an investor the opportunity to acquire an exceptionally well located asset that is leased to a strong publicly traded tenant (Brinker International). This Chili's is subject to a 15-year absolute NNN lease w/ 7.5 years of base term remaining and 6 5-year options. During both the base term and extension periods there are 1.5% annual rent increases.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,468 SF
Building Class
B
Year Built
2003
Price
$7,092,465 CAD
Price Per SF
$1,587.39 CAD
Cap Rate
5.80%
NOI
$411,362 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.04 AC
Opportunity Zone
Yes
Zoning
C2
Frontage
209’ on Gall Blvd
Amenities
- Pylon Sign
- Drive Thru
Property Taxes
| Parcel Number | 34-25-21-0110-00000-0040 | Improvements Assessment | $587,530 CAD |
| Land Assessment | $1,158,284 CAD | Total Assessment | $1,745,814 CAD |
Property Taxes
Parcel Number
34-25-21-0110-00000-0040
Land Assessment
$1,158,284 CAD
Improvements Assessment
$587,530 CAD
Total Assessment
$1,745,814 CAD
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