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Perkins Restaurant and Bakery

Leesburg, Florida

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 27811 US Route-27 in Leesburg, Florida.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 27811 US Route-27 in Leesburg, Florida. The site consists of roughly 4,852 rentable square feet of building space on estimated 2.54-acre parcel of land. This Perkins Restaurant and Bakery is subject to a brand new, long term, 20-year absolute triple-net (NNN) lease, which commenced on November 1st, 2019. The current annual rent is $192,850 and is scheduled to increase by 1.50% annually throughout the base term and each of the in the four (4), five (5)-year tenant renewal option periods.

Location Overview

The subject property is situated on US Route-27, which boasts an average daily traffic count exceeding 27,350 vehicles. US Route-27 is intersected by County Road 48 and runs adjacent to County Road 33, which bring an additional 7,820 and 7,650 vehicles into the immediate area daily, respectively. There are more than 13,822 individuals residing within a three-mile radius of the subject property and more than 31,354 individuals within a five-mile radius of the property. The property is well positioned in a dense suburban and retail corridor with national and local tenants, shopping centers, academic institutions and access to healthcare all within immediate proximity to the site. Major national tenants include: Walgreens, Winn-Dixie, Publix Super Market, Dollar General, Dollar Tree, Advance Auto Parts, McDonald’s, Subway, Mamma’s Pizzeria as well as many more. The subject property benefits from being located near several academic institutions. Most notable are Lake Sumnter Community College and Leesburg High School, which boast a total enrollment of approximately 6,500 students and are located less then five miles from the subject property. This Perkins is also located less than five miles from Leesburg Regional Medical Center. Leesburg Regional Medical Center has 329-staffed beds and operates as a short term acute care hospital. Leesburg is a city located in Lake County, Florida, United States. Leesburg is located in central Florida, between Lake Harris and Lake Griffin, at the head of the Oklawaha River system. It is part of the Orlando–Kissimmee–Sanford Metropolitan Statistical Area. The city is the home of Lake-Sumter State College (LSSC) with campuses also in Clermont, Florida and Sumterville, Florida. It is also the home of Beacon College. Leesburg is a center of commerce ideally situated in the center of Florida with easy transportation access, an abundant of developable area, and award-winning utilities. With the city’s economic incentives, a diverse workforce, and a large business park make it a perfect combination for business success. The city actively promotes the business community and encourages new development to better support the economy, increase employment, and improve the overall quality of life for its citizens. The municipality consists of 38 square miles and serves utilities to more than 50 square miles in north Lake County. The Leesburg business area attracts more than 50,000 people to work each weekday. Furthermore, the Leesburg’s industry and technology park offers more than 640 acres of prime development area at Florida’s Turnpike and County Road 470.   FL Broker of Record:Ryan Nee License: BK3154667

Key Details

Cap Rate:
Annual Rent:
27811 US Route-27, Leesburg, Florida 34748 United States
Lease Type:
Triple Net (NNN)

Lot Size:
+/- 2.54
Building Size:
4,852 SF
Perkins Restaurant and Bakery

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