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.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 16 29 19 00000 140 0600
Tenancy: Single Tenant

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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

Contact

Photograph of Listing Agent

Will Kochenour III

Santek Management, LLC
CE-FL Member
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