Havoline Xpress Lube – Palm Harbor, FL

Havoline Xpress Lube – Palm Harbor, FL

Havoline Xpress Lube – Palm Harbor, FL
680 Alternate US 19
Palm Harbor, FL 34683

$774,000

Cap Rate 8.50%
Gross Leasable Area (GLA) 3,940
Price Per Square Foot (GLA) $196.45
Year Built 1988
Lot Size 0.48 Acres
  • Double-Net Leases - Low Management
  • Large Texaco Xpress Operator (66-Units)
  • Dense Pinellas County Market (61,868 People Within Three Miles)
  • Car Wash - Annual Two Percent Increases
  • Established Neighborhood Location
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Havoline Xpress Lube – Palm Harbor, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

This is a 3,940-square foot Havoline Xpress Lube and Pelican Car Wash located in Palm Harbor, Florida (Tampa MSA). The property sits on Alternate 19 which acts as the secondary throughway for Pinellas County. Alternate 19 runs parallel to US Highway 19 and goes from Tarpon Springs all the way down to south St. Petersburg. The property is ideally located one-half mile north of a Winn Dixie anchored center and 0.8 miles south of Palm Harbor University High School (PHUHS), which serves over 2,475 students.

Palm Harbor is located 30 minutes from Tampa, with 61,868 people living within three miles of the subject property and an average household income of $75,989. The asset is subject to a double-net lease with approximately nine years remaining on Havoline Xpress Lube and the same term remaining on the lease with Pelican Car Wash. The rent will increase on Pelican Car Wash by two percent annually. This asset is best suited for an investor looking for a passive investment with low management responsibilities.

This property is being sold as a portfolio along with the Havoline Xpress Lube and Pelican Car Wash at 2620 Drew Street in Clearwater, Florida. The combined offering price and cap rate are $1,262,450 and 9.08 percent, respectively.

For More Information, Please Contact:

James Medefind

Senior Associate
813-387-4788
james.Medefind@marcusmillichap.com