Texaco Xpress Lube – Riverview, FL

Texaco Xpress Lube – Riverview, FL

Texaco Xpress Lube – Riverview, FL
13376 Lincoln Road
Riverview, FL 33578

$729,000

Cap Rate 7.97%
Gross Leasable Area (GLA) 1,400
Price Per Square Foot (GLA) $521
Year Built 2006
Lot Size .126 Acres
  • Double-Net Lease
  • 10 Percent Rent Increase Every Five Years of the Lease, Including Option Periods
  • Large Texaco Xpress Lube Operator in the United States (66-Units)
  • 10.5 Years Remaining, Three Five-Year Options
  • Adjacent to Brand New 100 Bed Hospital
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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: Texaco Xpress Lube – Riverview, 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 1,400-square foot Texaco Xpress Lube in Riverview, Florida (Tampa MSA), sits off Big Bend Road (County Road 627) and is an out parcel to an Ace Hardware anchored center. Riverview is a bedroom community of Tampa, with excellent major roadway access with Interstate 75, US Highway 301 and US Highway 41, all in the immediate area.

The Property is surrounded by national retailers including Sam’s Club, Applebee’s, McDonald’s, Ace Hardware, Beef ‘O’ Brady’s, Walgreens, Burger King, SunTrust Bank, CVS and Advance Auto.

Adjacent to the property is the brand new Saint Joseph’s Hospital, totaling 325,000 square feet. Upon completion, there are expected to be over 500 jobs created.

The asset is subject to a 15-year double-net lease with approximately 10.5 years remaining. The rent will increase by 10 percent every five years. This asset is best suited for an investor looking for a passive investment with zero management responsibilities.

For More Information, Please Contact:

James Medefind

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