Listed by Encore Real Estate Investment Services
$2,996,766
Tire Kingdom
Details
APN 3103200600000
Property Type Retail
Sub Type Storefront, Auto Shop
Square Footage 6,672
Units 1
Cap Rate 5.35%
NOI $160,327
Occupancy 100%
Tenancy Single
Brand/Tenant Tire Kingdom
Lease Type NN
Lease Term 40.7
Lease Expiration 11/30/2041
Remaining Term 15.5
Price per SqFt $449
Year Built 2001
Stories 1
Acreage 0.990
Zoning CP
Investment Type Net Lease
Lease Commencement 04/12/2001
Ground Lease No
Recent Lease Renewal - 15 Year Extension
Investment highlights
- Double Net (NN) Lease | Minimal Landlord Obligations - Limited to Roof and Structure
- Recent Lease Renewal - 15 Year Extension Showcasing Long Term Commitment To The Subject Property
- Strong Dedication to Location | Occupying Since 2001
- Four (4), Five Year Options | 5% Increases in Each Option Period
- Heavily Trafficked Road | Main Retail Corridor with Direct Access to Downtown Tallahassee
- Next 5% Rental Increase - August 2031
- Adjacent to Walmart Supercenter in the Heart of Tallahassee | Excellent Hard Corner, Lighted Intersection Location
- Property Renovated In 2016 Showing Commitment to the Location
- Highly Visible and Easily Accessible Apalachee Pkwy | Over 29,350 Vehicles Per Day
- Population Exceeds 112,960 within 5-Mile Radius | Average Household Income Exceeds $98,836 within 3-Mile Radius
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,327.00
$13,360.58/mo
Valuation Metrics
0
DSCR
5.35%
Cap Rate
5.35%
ROI
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