Tire Choice - Clearwater, FL (Tampa MSA)
High Upside | No Options | Below-Market Rent
Marketing description
Matthews™ is pleased to present its latest Tire Choice Auto Service Centers listing located in the Tampa Bay MSA. This property is listed at $1,610,000, offering a 5.40% cap rate with significant value-add upside — with no options remaining and a short-term lease, a buyer can increase value by driving rents to market at lease maturity, yielding a pro-forma cap rate of approximately 9.76%. The location benefits from a densely populated trade area with approximately 115,000 residents within a 3-mile radius and over 3.42 million in the broader Tampa Bay MSA — the 17th largest metro in the nation and 2nd largest in Florida — providing a deep and consistent customer base for essential automotive services. The lease is backed by a corporate guaranty from Monro, one of the nation's leading automotive service and tire dealers operating 1,100+ locations across 32 states under 16 highly respected brands. This is a high-performing location, with foot traffic ranking in the 70th percentile nationally among Tire Choice locations. The larger-than-typical parcel of approximately 0.71 acres offers added flexibility for future uses, and the quick-lube and auto service sector has historically demonstrated resilience across economic cycles, making this an ecommerce-proof, needs-based investment in an income tax-free state.
Tax Benefits – Auto service properties may be eligible for an accelerated depreciation schedule. Consult your tax or accounting professional for more information.
Investment highlights
- Listed for $1,610,000 yielding a cap rate of 5.40%.
- HIGH UPSIDE — value-add potential below-market rent, no options remaining, short-term lease. Buyer can increase value by increasing rents to market at lease maturity.
- Pro-Forma ±9.76% Cap Rate at market rents. Current rent is ±$15.49/SF **Contact agent for more information.
- Corporate Guaranty — Monro is one of the leading automotive service and tire dealers in the nation. Over 1,100 auto repair shops and tire dealers in 32 states, with 16 highly respected tire and auto service brands.
- Tampa Bay MSA — ±115k population in a 3-mi radius and ±3.42 million in total. It is the 17th largest in the national and 2nd in Florida.
- Larger Parcel of ±0.71 AC allows for flexible future uses.
- Tax Benefits – Auto service properties may be eligible for an accelerated depreciation schedule **Consult your tax or accounting professional for more information.
- Ecommerce & Recession-Proof Investment – Quick lube sector is not heavily affected by changes in the economy.
- High Performing Location — foot traffic ranks in 70th percentile nationally compared to Tire Choice locations (AlphaMap).
- Income Tax-Free State of Florida.
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