3115 E Gulf to Lake Hwy - Auto Repair FOR SALE
Inverness, FL 34453 |
$2,162,000 USD
954-302-7365
3115 E Gulf to Lake Hwy
Inverness, FL 34453
HIGHLIGHTS
- 25 Year Operating History | 3.5 Years Remain | Options To Extend | Mavis Acquisition of Tire Kingdom | Increased Yield ~2 Years
- Absolute NNN | Fee Simple Ownership | No State Income Tax | Zero Landlord Responsibilities
- Fronting E. Gulf to Lake Hwy | Surrounding Retailers | Excellent Visibility & Access
- Inverness New Development | Infrastructure and Commercial
- Local Demographics in 5-Mile Trade Area | Growing Population
OVERVIEW
• Tire Kingdom has operated at this location for 25 years and has 3.5 years remaining on their lease with 2 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option period
• In May 2023, Mavis Tire Express Services Corp. acquired 595 retail locations from TBC Corporation, comprising 392 NTB Tire & Service Centers and 203 Tire Kingdom Service Centers. This acquisition expanded Mavis’s retail footprint to approximately 2,000 locations across 28 states
• Upon renewal of the lease in ~2 years, the yield will be 6.00%+
FOR SALE DETAILS
PRICE
$2,162,000 USD
PRICE/SF
$344 USD /SF
CAP RATE
5.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Tire Kingdom - Inverness FL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
ADD'L SUBTYPES
Freestanding, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2000
SPRINKLERS
-
PARKING SPACES
22
LAND DETAILS
LAND ACRES
0.84 AC
LAND SF
36,611 SF
ZONING
Commercial
APN/PARCEL ID
19E-19S-02-0010-00110-0210
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954-302-7365
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954-302-7365
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