|Gross Leasable Area (GLA)||2,250|
|Price Per Square Foot (GLA)||$355.56|
|Lot Size||0.26 Acres|
This 2,200-square foot NAPA Auto Care Center in Tampa, Florida, is just off of busy Interstate 275 and surrounded by National retailers such as Walmart, Family Dollar, Home Depot, CVS and Dunkin Donuts, among others. North of Downtown Tampa, this location is only three miles from the University of South Florida campus, which is the fourth largest University in the state of Florida.
The asset is subject to a 15-year triple-net lease with approximately 7 years remaining and two 5-year options. The rent will increase by 10 percent every five years with an increase approaching in 2017. This asset is best suited for an investor looking for a long-term passive investment with zero management responsibilities. An investor can achieve 17.44 percent cash-on-cash day one.
The city of Tampa is the largest city in Hillsborough County. It is the county seat and the third most populated city in Florida. The population of the city represents approximately one-third of the total population of Hillsborough County.
Tampa’s economy is founded on a diverse base that includes tourism, agriculture, construction, finance, health care, government, technology and the Port of Tampa.