2143 US-92, Auburndale, FL 33823

Fortis Net Lease is pleased to present this 2015 built-to-suit, 3,913sf Verizon Wireless store located in the growing city of Auburndale, Florida. The property offers a 3.75 years remaining on a double net property with minimal landlord responsibilities. The lease contains two, (5) Yr. Options to renew, each with a 5% rental rate increase. The lease is guaranteed by Cellular Sales of Knoxville, Inc. Cellular Sales of Knoxville, Inc. is one of the largest private Verizon Wireless franchisees in the nation with over $650 million in annual revenue. The store is currently open with rent having commenced in October 2015.

This Verizon Wireless is highly visible as it is strategically positioned on US Highway 92W which sees over 39,000 cars per day. US Highway 92 is also home to many retailers including Walmart, Lowes, Aldi and many other national tenants. The five mile population from the site is 67,427 with a projected population of 74,768 by 2026. The average household income within three miles is $61,979 per year. This area is experiencing great growth with the 5 mile population growth rate projected at 2.2%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Verizon Wireless located in an income tax free state with strong population growth and excellent traffic visibility. List price reflects a 6.00% cap rate based on NOI of $116,785.