Avis Car Rental
Avis Car Rental | New Construction | 7-Year Absolute NNN Lease | No Landlord Responsibilities
Marketing description
RIPCO Real Estate is pleased to offer for sale 605 67th Street Circle East, a ±500 SF commercial property leased to Avis Budget Car Rental, currently under construction, located just off Manatee Avenue East and Interstate 75 in Bradenton, FL. Avis Budget Car Rental recently signed a new 7-year absolute NNN lease with two (2) 5-year options to extend, highlighting their dedication to this location. The lease contains +3% rental increases every year, providing the Landlord with management-free income and a built-in hedge against inflation. This intersection of Manatee Avenue East and Interstate 75, where the property is located has a combined AADT of over 190,000. Within 3 miles of the Avis Budget Car Rental, there is a population of 32,939 and an average household income of $124,249.
The asset would be an attractive opportunity for investors looking for management-free income, a newly constructed building, and with a newly signed lease by a strong national tenant.
Investment highlights
- New, 7-year Absolute NNN lease signed by Avis Budget Car Rental LLC with +3% annual rent increases to hedge against inflation
- Opportunity to generate additional income through percentage rent. Avis pays the greater of 8% of sales or a minimum annual guaranteed rent
- Corporate lease with Avis Budget Car Rental LLC, a subsidiary of Avis Budget Group Inc.
- As of the end of 2025, there were 1,399 Avis Car Rental locations in the United States. There are over 5,000 Avis Car Rentals throughout the world and Avis Budget Group has over 10,000 locations
- Other brands owned by Avis Budget Group include Budget Rent A Car, Zipcar, Payless Car Rental, Apex Car Rentals, Maggiore Group, and more
- Located just off the intersection of Manatee Avenue East and Interstate 75, providing easy access to the west coast of Florida
- Manatee Avenue East has an AADT of 60,000 and I-75 has and AADT of 131,000
- 3-miles from Lakewood Ranch, one of the nation's fastest growing master planned communities and a key driver of regional population growth
- The Bradenton-Sarasota area is one of the fastest growing regions in the country, consistently being mentioned in the top 10 growth cities over the past decade
- Florida is a state-tax free state
- 32,939 population within a 3-mile radius
- Average Household Income of $124,219 within a 3-mile radius
- 6.04% annual population growth over the last 25 years within a 1-mile radius
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