5344 16th St N, St. Petersburg, FL 33703

This offering consists of a fee simple, single-tenant Absolute NNN Tire Kingdom property located in St. Petersburg, Florida. The asset is free-standing and situated on a prominent corner lot, providing strong visibility and convenient access. The property is leased through November 2029 under an Absolute NNN structure with zero landlord responsibilities. The lease is guaranteed by Mavis Tire Express Services Corp., a leading automotive service platform founded in 1949 that has expanded through major acquisitions—including Tire Kingdom, NTB, Express Oil Change & Tire Engineers, and Midas— operates more than 3,500 locations across United States and Canada.

The property is positioned within a strong retail corridor supported by favorable market fundamentals. Area retail rents range from approximately $25 to $35 per square foot, compared to the current in-place rent of approximately $12.35 per square foot, indicating meaningful rent upside as the lease approaches expiration. The surrounding trade area is anchored by a strong mix of national retailers and restaurants, including McDonald’s, Chick-fil-A, Whole Foods Market, Walgreens, Burger King, and Dollar General.

St. Petersburg is part of the Tampa Bay metropolitan area, one of Florida’s fastest-growing regions, benefiting from strong demographics, sustained in-migration, and a business-friendly environment. The city reports a median household income of approximately $73,000, reinforcing long-term demand for necessity-based automotive services.