Tire Choice | Outparcel to Publix | Tampa MSA

7511 49th St N, Pinellas Park, FL 33781, USA
$1,247,400

Description

Marcus & Millichap is pleased to present for sale this Tire Choice Automotive Center in Pinellas Park, Florida. The subject property consists of a 7,504 square foot freestanding building on a 0.72-acre parcel of land. Situated as an outparcel to a busy Publix Supermarket, this property experiences traffic counts exceeding 74,500 Vehicles Per Day. The tenant, Tire Choice, is paying a very low rent of $8 per square foot which is considerably below market. Tire Choice has a base lease term expiration of May 2025 with three (5-year) options with 5 percent rent increases. Due to the low rent, the tenant has very strong probability of renewal. Pinellas Park is the most densely populated county in Florida. There are 3,347 people per square mile in Pinellas County. The next closest county with a highly concentrated population is Broward with 1,445 people per square mile.
Tire Choice offers tire sales and service, manufacturer scheduled maintenance, oil changes, brakes, wheel alignments, and automotive repairs at 231 locations in eight states: California, Florida, Louisiana, North Carolina, South Carolina, Tennessee, Pennsylvania, Ohio.

  • Tire Choice Automotive Center | Corporate Guarantee | 218+ Location in 8 States
  • Situated Next to a Busy Publix Supermarket | Exposure to More Than 74,000 Vehicles Per Day
  • Extremely Low Rent of $8/SF | High Lease Renewal Probability | Strong Intrinsic Value
  • Located in Pinellas Park, the Most Densely Populated County in Florida with 3,347 People Per Square Mile
  • Pinellas Park is Located in the Tampa MSA (20 Minute Drive from Downtown Tampa)
  • Florida is a No Income Tax State

Property Documents

  • TireChoice-Pinellas-Park-FL-om-ib
  • City: Pinellas Park
  • State/county: Florida
  • Zip/Postal Code: 33781
  • Country: United States

Detail

  • Price: $1,247,400
  • Year Built: 1992

Additional details

  • CAP RATE: 5.00%
  • NOI: $62,370

Features