Property details
Commercial Real Estate Florida, Southeast Region
Property Description
• Commercial Real Estate Florida with a New 25-Year NNN Lease
• TBC Corporate Signature
• Brand New Construction
• Attractive Rental Increases
• Hard Corner Location - 47,996 ADT at Intersection
• Excellent Population Growth - 30.62% Increase 2007-2012
Commercial Real Estate Florida with an estimated completion date in mid-April 2008. This is a commercial real estate is a relocation of an existing Florida inline store.
Tire Kingdom is owned by TBC Corporation, which was acquired by Sumitomo Corporation of America in November 2005 for approximately $1.1 billion. TBC Corporation operates as a subsidiary of Sumitomo Corporation of America. Sumitomo Corporation of America is the largest subsidiary of privately held Sumitomo Corporation, one of Japan's major integrated trading and investment business enterprises.
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Highlights
- Status:
- Available
- Price:
- $3,019,000
- PSF:
- $436
- Cap Rate:
- 6.25%
- Annual Rent:
- $199,467
- Rent Increases:
- Every 5 years by the cumulative increase in the CPI - not to exceed 12%
Property Information
- Building Size:
- 6,922 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Auto Parts - Repair
- Units/Spaces:
- 1
- Year Built:
- 2008
- Land Area:
- 2.44 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Tire Kingdom
- Lease Type:
- NNN
- Lease Commencement:
- 4/1/2008
- Lease Expiration:
- 4/1/2033
- Lease Term:
- 25 years
- Years Remaining:
- 24 years
- Landlord Responsibilities:
- None - NNN Commercial Real Estate Florida
- Options:
- Three 5-year options - same increases
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.