|Gross Leasable Area (GLA)||2,043 Sq.Ft.|
|Price Per Square Foot (GLA)||$1,493|
|Lot Size||0.55 Acres|
Marcus & Millichap is pleased to exclusively offer for sale this 2,043-square foot freestanding
Circle K, selling Shell fuel, located in Brandon, Florida (Tampa Bay MSA). The property lies
on busy Brandon Boulevard with a traffic count in excess of 80,000 cars daily and easy
ingress and egress. The property is well located less than one mile from Interstate 75 and
less than 10 miles from downtown Tampa. The property caters to the local residents and
businesses with an average household income of $53,316.
Circle K has 11 years remaining on the base term of the lease with one, three-year option,
four, five-year options, and two, ten-year options. There are five percent rent increases
every five years throughout the initial term and the four, five-year option periods. This
rate schedule provides a new investor with a blended average unleveraged return of 5.24
percent on the base term of the lease.
The city of Brandon is attractive to Greater Tampa Bay residents looking to be in close
proximity to local attractions and employment centers. Under 10 miles from downtown
Tampa, residents enjoy the benefits of a major city, while getting the living experience of
a quaint suburb. The area is expected to grow in both population and income within the
next five years which makes this asset especially attractive to forward looking investors.