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 welllocated 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/ 8 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.