1008 E Tarpon Ave - Auto Repair FOR SALE


Tarpon Springs, FL 34689
$1,846,000 USD
619-218-6427
1008 E Tarpon Ave, Tarpon Springs, FL for Sale
$1,846,000 USD
Auto Repair - FOR SALE
1/7
null | 6.5% Cap Rate

1008 E Tarpon Ave
Tarpon Springs, FL 34689


HIGHLIGHTS

  • 15-Year Absolute NNN Lease with 10% Increases Every 5 Years and (4) 5-Year Option Periods
  • Signalized Location at the Intersection of US Hwy 19 and E. Tarpon Ave, a High-Traffic Corridor with Combined Traffic Counts Exceeding 99,000 VPD
  • Robust Trade Area — 144,777 Residents Within a 5-Mile Radius with an Average Household Income of $94,091
  • Strong Retail Synergy — Positioned Among National Retailers with a Dense Concentration of Quick-Service Dining and High Traffic Counts
  • Significant Residential Growth — Proximity to Planned 404-Unit Anclote Harbor Apartments and Tarpon Registry Development
  • Part of the Tampa-St. Petersburg-Clearwater MSA, One of the Fastest-Growing Metro Areas in the U.S.

OVERVIEW

The subject property is a Take 5 Oil Change located in Tarpon Springs (Tampa), FL. The new 15-year absolute NNN lease includes 10% rental increases every 5 years during the primary term and in the (4) 5-year option periods. The property is strategically positioned at the signalized intersection of US Highway 19 and E. Tarpon Avenue, one of the most heavily trafficked corridors in Pinellas County, with traffic counts of 73,871 vehicles per day along US Hwy 19 and 25,510 vehicles per day along E. Tarpon Avenue, providing exceptional visibility and access to a constant flow of daily consumers. Surrounded by a dense mix of national and regional retailers, the property benefits from strong retail synergy with neighboring tenants including Walmart Supercenter, Publix, Lowe's, Home Depot, CVS, AutoZone, Goodyear, Chase Bank, Bank of America, Circle K, and Wawa, along with a strong concentration of quick-service dining including Taco Bell, Arby's, McDonald's, Burger King, Dunkin', IHOP, Firehouse Subs, and Wendy's, all driving consistent daily traffic to the immediate trade area. The surrounding trade area includes approximately 144,777 residents within a 5-mile radius with an average household income of $94,091. The area further benefits from significant residential growth drivers, including the planned 404-unit Anclote Harbor Apartments and the Tarpon Registry boutique hotel and retail development currently under construction at E. Tarpon Avenue, reinforcing long-term demand for automotive services in the market. The 5-mile trade area population is projected to grow by 2030, representing a 6.3% increase, while household growth within the 3-mile radius is projected at 4.4% over the same period. Tarpon Springs continues to attract new residents drawn by its coastal lifestyle, strong school systems, and proximity to the greater Tampa Bay employment base, further solidifying the area's long-term residential stability and consumer demand.

FOR SALE DETAILS

PRICE

$1,846,000 USD

PRICE/SF

$641 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Take 5 | New 15-Yr Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,185 SF

ZONING

-

APN/PARCEL ID

07-27-16-99612-001-0080

ASK ABOUT THIS PROPERTY

John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

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John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.