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4340 Clark Road - Bridgestone - Tires Plus, Sarasota, FL

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4340 Clark Road - Bridgestone - Tires Plus

Sarasota, FL 34238 - Sarasota Submarket

Property Type:Retail Sub Type:Freestanding Status:Under Construction, delivers December 2016 Year Built:2016
Building Size:8,000 SF Land Area:1.44 AC (62,918 SF)
For Sale Price:$1,706,000 Price/SF:$213.25
Cap Rate:4.25 %

Sale Notes:
This subject offering is an extremely rare Sarasota net leased asset. This is the opportunity to purchase the 100% fee simple interest in a long term absolute NNN ground lease with Bridgestone Retail Operations LLC. The offering is below market price/sf on the ground lease.

This asset is a high quality lease, with below market rent. The rare lease structure is a 20 year initial term with 10% increases every 5 years with four 5 year renewal options and 10% increases at each option. The lease is a pure NNN and requires zero landlord responsibilities. Tire Plus is operated by Bridgestone Retail Operations, the world' s largest chain of company-owned auto care. They operate over 2,200 stores under 3 brands and this property is a Tires Plus concept. The site is situated on a major commercial thoroughfare and neighbors several national tenants including McDonald' s, 7-Eleven, and Goodwill. The property is within Palmer Ranch, a major development of regional Impact, where there are over 1,500 new homes under construction.

SVN The Kase Group
Jacob Abusharkh
(925) 231-1770

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