Gibsonton’s Chipotle and Dutch Bros. property has sold for $7.1 million, less than two years after the site changed hands for $1.9 million and was redeveloped for the two restaurant chains.
CAT 1 LLC, a Key West-based investor, bought the property at 10415 and 10417 Gibsonton Drive from One Oak Gibsonton LLC, records show. The sale price is nearly four times the $1.905 million One Oak paid for the property in September 2024.
CAT 1 financed less than half of the acquisition, borrowing $3.27 million from First Merchants Bank. The loan amounts to about 46% of the purchase price. The property came with leases already secured from Chipotle and Dutch Bros., giving CAT 1 an investment backed by two national restaurant chains.
One Oak secured those tenants within months of buying the roughly 1.4-acre property. Chipotle signed a lease in February 2025, followed the next month by a build-to-suit agreement with Dutch Bros. The site’s existing 4,035-square-foot building had previously operated as a bank.
Redeveloping the former bank property required substantial construction. County records show a $400,000 tenant-improvement permit for a fast-casual restaurant, along with a separate $500,000 permit for private plan review and inspections and additional work tied to Chipotle and Dutch Bros. Available records do not disclose One Oak’s total investment in preparing the property for the two tenants.