Pep Boys Clearwater
Retail | 4.50% CAP | 4,384 SqFt
Marketing description
This offering consists of a fee simple, single-tenant Absolute NNN Pep Boys property located in Clearwater, Florida. The asset is corporate leased with approximately 7 years remaining on the primary term, four 5-year renewal options, and 2% annual rent escalations. The lease is backed by a Pep Boys corporate guarantee (BB+). Founded in 1921, Pep Boys is a more than 100-year-old automotive service retailer operating over 850 locations nationwide and generating approximately $2.4 billion in annual revenue.
The property benefits from excellent visibility along Gulf-to-Bay Boulevard, a primary commercial corridor with approximately 58,000 vehicles per day, and draws from over 218,000 residents within a five-mile radius. The surrounding trade area features median household incomes of approximately $44,000 within five miles, supporting consistent consumer demand for automotive and essential retail services. The site is surrounded by a strong mix of national retailers and restaurants, including CVS, Walgreens, Family Dollar, Chick-fil-A, McDonald’s, Burger King, and Five Guys, reinforcing the depth and strength of the retail corridor.
Clearwater is a vibrant Gulf Coast market known for strong demographics, year-round tourism, and a high quality of life. The area offers a business-friendly environment, a growing population, and convenient access to major transportation infrastructure, including Tampa International Airport and Port Tampa Bay.
Investment highlights
Absolute NNN Lease with Corporate Guarantee
Fee simple, single-tenant Absolute NNN investment with zero landlord responsibilities, backed by a Pep Boys corporate guarantee (BB+).
Long-Term Lease with Built-In Growth
Approximately 7.5 years remaining on the primary term, four 5-year renewal options, and 2% annual rent escalations providing predictable income growth.
Established, Recession-Resistant Tenant
Founded in 1921, Pep Boys is a more than 100-year-old automotive service retailer operating over 850 locations nationwide with approximately $2.4 billion in annual revenue.
Prime High-Traffic Retail Corridor
Positioned along Gulf-to-Bay Boulevard with approximately 58,000 vehicles per day, surrounded by strong national retailers and restaurants, reinforcing long-term site viability.
Strong Demographics & Market Fundamentals
Draws from over 218,000 residents within a five-mile radius with median household incomes of approximately $44,000, located in the growing Clearwater–Tampa Bay market with year-round tourism and strong economic drivers.
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