NAPA Auto Care – Tampa, FL

NAPA Auto Care – Tampa, FL

NAPA Auto Care – Tampa, FL
10156 North Florida Ave
Tampa, FL 33612

$800,000

Cap Rate 9.90%
Gross Leasable Area (GLA) 2,250
Price Per Square Foot (GLA) $355.56
Year Built 1966
Lot Size 0.26 Acres
  •  7 Years Remaining on Lease Term
  • 17.44 Percent Cash-on-Cash Day One
  •  10 Percent Increase in 2017
  •  Tenant has operated this location since 2007
  •  Location Offers Both Oil Change and Auto Repair Services
  •  Two 5-Year Options
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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: NAPA Auto Care – Tampa, 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 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.

For More Information, Please Contact:

James Medefind

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