NNN Car Dealership
Retail-Commercial
for Sale
Catylist Listing ID: |
30673929 |
Building Status: |
Proposed |
Building Size (RSF): |
5,541 SF
|
Gross Building Area: |
See Agent |
Sale Price: |
$1,375,000 |
Unit Price: |
$248.15 PSF |
Property Use Type: |
Net Leased Investment (NNN) |
Sale Terms: |
Cash to Seller, Other |
Cap Rate: |
6.36% |
Average Occupancy Rate: |
100 |
Last Updated: |
1/22/2021 |
Overview / Comments
Prime Investment opportunity for corner car lot on US Highway 19 lease to USA Auto Sales which have over 30 locations throughout the South East. This triple-net leased facility contains 1.249 AC MOL and a 5,541 SF building containing a reception area, kitchen, break-room/conference room, 3 covered detail bays, 3 garage bays/workshops, and a server room. This is an excellent 1031 exchange with future upside of redevelopment along the US Highway 19 Corridor. The initial lease term is 5 years with with 3.5 years remaining and two five year options. New 314 Unit Apartment Complex under construction just to the North. The current NOI is $87,472 per year with a 6.36% CAP.
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Additional Details
Nearest MSA: |
Tampa-St. Petersburg-Clearwater |
County: |
Pinellas |
Tax ID/APN: |
16 29 19 00000 140 0600 |
Tenancy: |
Single Tenant |
Demographic Statistics
Proximity: |
1 mile |
3 miles |
5 miles |
Total Population: |
11,078 |
103,503 |
259,507 |
Median Age: |
50.69 |
45.02 |
45.24 |
Households: |
5,717 |
46,056 |
117,260 |
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