Listed by Ripco Real Estate
$1,794,194
Maxa Ride
Details
APN 018238-0000
Property Type Retail
Sub Type Auto Shop, Freestanding
Square Footage 2,372
Net Rentable (SqFt) 2,372
Units 1
Cap Rate 6.2%
NOI $111,240
Occupancy 100%
Tenancy Single
Brand/Tenant Maxa Ride
Lease Type Absolute NNN
Lease Term 5
Lease Expiration 09/14/2030
Remaining Term 4.1
Rent Bumps Yes
Lease Options Three, 3-year renewal options each with annual rent increases
Price per SqFt $756
Year Built 1953
Year Renovated 2022
Buildings 2
Stories 1
Acreage 0.440
Zoning GC - General Commercial
Investment Type Net Lease
Lease Commencement 09/15/2025
Occupancy Date 09/14/2025
Ground Lease No
Maxa Ride Car Dealership | No Landlord Responsibilities | Adjacent to I-275 (Tampa, FL)
Marketing description
Freestanding listing at Maxa Ride, Tampa, Florida 33613
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
Listing Contacts
Listed by Ripco Real Estate
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$111,240.00
$9,270.00/mo
Valuation Metrics
0
DSCR
6.2%
Cap Rate
6.2%
ROI
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