SRS Real Estate Partners Facilitates $3.55M Sale Of Chick-fil-A Ground Lease In Leesburg

The sale of a retail asset located at 9925 US 441 in Leesburg has been completed for $3,550,000. This property, covering 1.72 acres, comprises a 4,935-square-foot facility occupied by Chick-fil-A and is backed by a corporate-guaranteed absolute triple-net ground lease. The lease still holds 13 years remaining and was transacted at a 4.46% cap rate.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,550,000
• Square Footage: 4,935
• Price Per Square Foot: $719
• Address: 9925 US 441
• Market: Leesburg
• Acres: 1.72
• Lease Type: Corporate-guaranteed absolute triple-net
• Remaining Lease Term: 13 years
• Cap Rate: 4.46%
• Buyer Type: 1031-exchange buyer
• Investment Motivation: Passive income exposure
• Retail Corridor: Greater Orlando

Patrick Nutt and William Wamble from SRS Real Estate Partners represented the transaction. Their involvement underscores the professional collaboration that facilitated this investment deal, highlighting the significance of having experienced brokers in retail property transactions.