5416 W WATERS AVE Tampa FL 33634

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN sale-leaseback, Riptide Car Wash investment property located in Tampa, Florida. The tenant will sign a brand new 20-year lease with 6 (5-year) options to extend upon the close of escrow, demonstrating their commitment to the site. The lease features 1% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

Riptide Car Wash is located near the signalized intersection of W Waters Avenue and Anderson Road, featuring a combined average of over 100,000 vehicles passing by daily. The property is also located in close proximity to direct on/off ramp access to Veterans Expressway (73,000 VPD), a major north-south commuter thoroughfare that connects much of the Tampa MSA. Riptide Car Wash is located near a large amount of residential housing, as well as numerous multifamily housing complexes including the Oaks of Woodland Park Apartments (404 units), Waterford at Cypress Lake (450 units), WestEnd Apartments (216 units), and more, creating a direct consumer base from which to draw. Nearby national/credit tenants include Target, Lowe’s Home Improvement, Walmart, Publix Super Markets, and more. Strong surrounding tenant synergy increases consumer draw to the immediate trade area and promotes crossover shopping to the site. The site features significant street frontage as well as a large monument sign, creating excellent visibility. The 5-mile trade area is supported by over 283,000 residents, as well as 165,000 employees, and features an average household income of $73,257.

• Brand New 20-Year Sale-Leaseback | Options to Extend | Rental Increases | Bonus Depreciation

• Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax

• Direct Consumer Base | Excellent Visibility

• Strong Tenant and Profitable Location

• Excellent Traffic Counts | Veterans Expressway | Nearby National/Credit Tenants

• Strong Demographics in 5-Mile Trade Area