Brand New Tire Kingdom | 15-Year NNN Lease

8347 FL-64, Bradenton, FL 34211, USA
$3,402,061

Description

Marcus & Millichap is pleased to present for sale this brand new construction Tire Kingdom located in Bradenton, Florida. Bradenton is a booming Florida city on the Manatee River just south of Tampa, with a population of over 59,000 and is the principal city of the North Port-Sarasota-Bradenton metropolitan Statistical area with a population of over 821,000. Situated right off the Eastbound State Road 64 Exit of traveled Interstate 75, this property experiences traffic counts in excess of 47,000 vehicles per day. With the Corporate backing of TBC Corporate, this fee simple lease will have eight percent increases in rent every five years, and 10 percent increases in rent every five years during the five (5-year each) extension periods.
This Tire Kingdom has a 15-Year Triple Net Lease and benefits from its close vicinity to The Lakewood Ranch planned community, which is one of the best Planned Communities in the U.S. Only
a few minutes from the property is The Riverwalk, a 5-acre park along the Manatee River with galleries, studios and shops, and attracting more than 100,000 people per year. Bradenton is one
of the fastest growing cities in the country. This Tire Kingdom is located 15 minutes south of The University of South Florida, with over 50,000 students across all campuses and 180 Majors.
Numerous retailers in the immediate vicinity of the property are Dairy Queen, Taco Bell, Crunch Fitness, SMH Urgent Care and Sherwin Williams.
Tire Kingdom is a large American tire store chain located primarily in the southern part of the United States. In the year 2000, it became a subsidiary of TBC Corporation. TBC is headquartered
in Palm Beach Gardens, Florida and it owns Tire Kingdom with 180 plus locations, NTB with 450 plus locations, Tire America, Big O Tires with 440 plus locations, and Midas with 2,100 locations.

  • 15-Year Triple Net Lease with 8% Increases Every 5 Years in the Base Term and 10% Increases in the Extension Periods
  • Situated on busy State Road 64 with Traffic Counts Exceeding 47,000 Vehicles Per Day and a few hundred feet away from I-75 with more than 127,500 Vehicles Per Day
  • Located Nearby Lakewood Ranch Planned Community One of Fastest Growing Communities in the U.S.
  • Corporate Backed by TBC Corporation with 180+ Tire Kingdom Stores and 450 NTB Stores
  • 15 Minutes from University of South Florida with over 50,000 Students across all Campuses
  • Florida is a No-Income State

Property Documents

  • Tire-Kingdom-Bradenton-FL-om-ib
  • City: Bradenton
  • State/county: Florida
  • Zip/Postal Code: 34211
  • Country: United States

Detail

  • Price: $3,402,061
  • Year Built: 2020

Additional details

  • CAP RATE: 4.70%
  • NOI: $160,000

Features