Mazi Realty
Listed by Mazi Realty
$3,500,000
Ace Hardware (North Trinity)
Details
Property Type Retail
Sub Type Storefront
Square Footage 16,178
Tenancy Single
Lease Type Modified
Lease Expiration 09/30/2031
Rent Bumps Yes
Pro-Forma Cap Rate 7.68%
Pro-Forma NOI $383,920
Price per SqFt $216
Class B
Year Built 2008
Acreage 1.950
Zoning C2
Parking Spaces 70 spaces
Parking Per SqFt 4.33
Investment Type Redevelopment
Tenant Credit Franchisee
Lease Commencement 10/01/2021
Ground Lease No
Sale Condition N/A
Single-Tenant Ace Hardware + Pad-Ready Outparcel | Tampa Bay MSA
Marketing description
North Trinity Ace Hardware is a rare Florida retail offering — a fully-leased, recession-resistant cash-flowing asset paired with a shovel-ready outparcel that fundamentally re-bases the investment from day one.
An established Ace Hardware franchisee anchors the property under a 10-year lease through 2031, with three 5-year options extending visibility through 2046 and a contractual 10% rent step-up locking in October 2026.
Adjacent to the storefront sits a 5,500 SF pad — subdivided, leveled, infrastructure in, and lease-protected. Deploy $1.5M into a QSR or drive-thru build and the blended yield re-bases from sub-3% to 7.68% within twelve months of close.
Investment highlights
- 10% contractual base rent increase upon renewal.
- 10-year initial term + three 5-year options provided.
- 5,500 SF outparcel — subdivided, leveled, infrastructure in place, lease-protected from view obstruction. Permit-ready upon close.
- Outparcel deployment ($1.5M) re-bases blended cap to a 7.68% Year 2 stabilized.
- Hardware retail historically counter-cyclical. Ace franchisee operating successfully since 2021 with 4+ year track record.
- Pasco County is Florida's fastest-growing retail submarket. Strong household formation and drive-thru retail demand support outparcel rents.
Listing Contacts
Mazi Realty
Listed by Mazi Realty
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