|Gross Leasable Area (GLA)||4,985 Sq.Ft.|
|Price Per Square Foot (GLA)||$754|
|Lot Size||0.75 Acres|
Marcus & Millichap is pleased to present for sale this absolute-net leased, fee-simple IHop which is operated by Sunshine Restaurant Partners, Inc, a franchisee of seven national restaurant brands with over 150 locations in Florida and Georgia and looking to expand to 250 locations.
This well-located IHop is on the corner of Woodmere Park Boulevard and South Tamiami Trail, a major intersection in Venice. It is an outparcel to a Target anchored shopping center, with Dollar Tree and Staples other major tenants in the center. Adjacent outparcels include Wendy’s, Chili’s Bar & Grill, McDonalds, Wells Fargo and Applebee’s. There is a Publix anchored shopping center in close proximity, along with many other major retailers close by.
Tamiami Trail is the main thoroughfare in Venice with an average daily traffic count of over 28,500 cars per day. Also known as US 41, Tamiami Trail provides an alternate route to interstate 75 while providing access to countless retailers, planned developments and golf courses.
Venice is a principal city of the Bradenton-Sarasota-Venice, Florida MSA, which has a population of 720,000+. With a convenient location in southwest Florida, Venice was voted as a top 10 Happiest Seaside Towns by Coastal Living. The city provides locals with access to stunning beaches and world-class golf courses, which also makes it an attractive “snowbird” destination for northern residents looking to spend a few months out of the year away from cold, harsh winters.
This is an excellent opportunity to acquire a strategically located passive, absolute net leased investment that benefits from Florida’s No State Income Tax.