
Bonefish Grill
Retail | 4.68% CAP | 5,277 SqFt
Marketing description
The retail corridor surrounding 12906 Cortez Boulevard in Brooksville, Florida is part of the primary commercial spine serving western Hernando County. The site is positioned along Cortez Boulevard (SR-50/US-98), a major east–west arterial connecting the Spring Hill residential population with downtown Brooksville and regional highways. Traffic volumes along this corridor are over 42,000 vehicles per day, making it one of the most heavily traveled retail corridors in the county and supporting strong retail visibility and accessibility.
Nearby retailers include ALDI, Hobby Lobby, Dicks’s Sporting Goods, Bealls and Walmart Supercenter, along with additional restaurants and big-box tenants along Cortez Boulevard. The surrounding trade area benefits from a large residential base within Spring Hill and Brooksville, with Hernando County population exceeding 200,000 residents and typical household incomes in the $55,000–$65,000 range, supporting neighborhood and community retail demand. Major economic drivers include healthcare employment (notably Oak Hill Hospital), regional commuter access to the Suncoast Parkway and I-75, and continued residential growth throughout western Hernando County, all of which contribute to sustained retail demand and new development opportunities along the corridor.
Investment highlights
- Ground Lease
- Asking Price: $3,100,000
- NOI: $145,200
- Cap Rate: 4.68%
- Initial Lease Term expired. Tenant is in first of 4 Five-year options. 19 years remaining.
- 10% rent increases at every option renewal.
- Below market rent
- Rare Bonefish/Bloomin Brands Ground Lease
- Located in THE retail hub of Hernando County
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