• An Award Winning Net Lease & Retail Commercial Real Estate Group

Service King in Tampa, FL | Absolute Triple Net Lease

1601 E Busch Blvd, Tampa, FL 33612, USA
$3,756,522

Description

Marcus & Millichap is pleased to present this 20 year absolute net leased Service King, located at 1601 East Busch Boulevard in Tampa, Florida. The subject property consists of a 16,471 square feet single tenant building on a large, 2.72-acre-parcel of land. This property has direct exposure to East Busch Boulevard with a traffic count in excess of 48,000 vehicles per day and benefits from a staggering 18,000 people in a one mile radius.
There are 4 percent rent increases every 5 years and 10 percent in each option period, with 2 five-year options remaining. There are numerous National and Regional retailers in the immediate area including Walgreens, AutoZone, Walmart, U-Haul, Marathon, Mobil, Citgo, Wawa, MetroPCS, Kmart and Home Depot among others.
Service King Collision Repair is a national automotive collision repair company. It was founded in 1976 by Eddie Lennox in Dallas, Texas. Service King is one of largest providers of collision repair services in the United States with more than 341 locations in 24 states.

  • Rare Long Term 20 Year Absolute NNN Leased Investment in Tampa, Florida
  • Large 16,471 Square Foot Building on a 2.72 Acre Parcel – Excellent Intrinsic Value
  • Very Dense Population: 18,000+ People in a One Mile Radius
  • Direct Exposure to More than 48,000 Vehicles Per Day
  • Tampa is One of the Fastest Growing MSAs in the Country
  • Service King is One of Largest Providers of Collision Repair Services in the United States with More than 341 Locations in 24 states.
  • Florida is a No Income Tax State

 

Property Documents

  • City: Tampa
  • State/county: Florida
  • Zip/Postal Code: 33612
  • Country: United States

Detail

  • Price: $3,756,522

Additional details

  • CAP Rate: 5.75%
  • NOI: $216,000

Features