Maxa Ride
Maxa Ride Car Dealership | No Landlord Responsibilities | Adjacent to I-275 (Tampa, FL)
Marketing description
RIPCO Real Estate is pleased to offer for sale 14041 N Florida Avenue, a two-building, ±2,372 SF car dealership located on the east side of N Florida Avenue in Tampa, FL. The property was recently leased to Maxa Ride on a 5-year, Absolute NNN lease with +3% annual rent increases throughout the lease term providing a hedge against inflation. The property was fully renovated in 2022 and contains a paved site with ample parking for automotive inventory. Centrally located along North Florida Avenue with an AADT of 24,000, the property sits within a dominant automotive corridor featuring 19 nearby dealerships, offering exceptional visibility and access to strong consumer traffic. Within 3 miles of 14041 N Florida Avenue, there is a population of 114,440 and an average household income of $76,141.
The asset would be an attractive opportunity for investors looking for no landlord responsibilities, a newly-renovated commercial property, significant parking area for holding inventory, and located adjacent to I-275, one of the primary north-south thoroughfares in the Tampa MSA with 140,000 AADT.
Investment highlights
- Maxa Ride recently signed a 5-year lease with +3% rental increases annually, increasing cash flow and hedging against inflation
- Absolute NNN lease provides stabilized cash flow with no Landlord responsibilities
- The property was fully renovated in 2022, reducing the likelihood of capital expenses at the property
- Lease includes three, 3-year renewal options each with annual rent increases
- The dealership is located on the eastside of N Florida Ave, one of the primary north-south thoroughfares in Tampa with an AADT of 24,000
- The property is located 2 miles from the University of South Florida (50,000 students enrolled) and less than a mile from I-275, the primary north-south thoroughfare in the Tampa MSA
- The property sits within a dominant automotive corridor featuring 19 nearby dealerships, offering exceptional visibility and access to strong consumer traffic
- 114,440 population within a 3-mile radius
- $76,141 average household income within a 3-mile radius
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