14041 N Florida Ave - Auto Dealership FOR SALE


Tampa, FL 33613- Lake Magdalene
$1,794,194 USD
727-452-6864
14041 N Florida Ave, Tampa, FL for Sale
$1,794,194 USD
Auto Dealership - FOR SALE
1/5
null | 6.2% Cap Rate

14041 N Florida Ave
Tampa, FL 33613
Lake Magdalene


HIGHLIGHTS

  • Maxa Ride recently signed a 5-year lease with +3% rental increases annually, increasing cash flow and hedging against inflation
  • Absolute NNN lease provides stabilized cash flow with no Landlord responsibilities
  • The property was fully renovated in 2022, reducing the likelihood of capital expenses at the property
  • Lease includes three, 3-year renewal options each with annual rent increases
  • The dealership is located on the eastside of N Florida Ave, one of the primary north-south thoroughfares in Tampa with an AADT of 24,000
  • The property sits within a dominant automotive corridor featuring 19 nearby dealerships, offering exceptional visibility & access to consumer traffic

OVERVIEW

RIPCO Real Estate is pleased to offer for sale 14041 N Florida Avenue, a two-building, ±2,372 SF car dealership located on the east side of N Florida Avenue in Tampa, FL. The property was recently leased to Maxa Ride on a 5-year, Absolute NNN lease with +3% annual rent increases throughout the lease term providing a hedge against inflation. The property was fully renovated in 2022 and contains a paved site with ample parking for automotive inventory. Centrally located along North Florida Avenue with an AADT of 24,000, the property sits within a dominant automotive corridor featuring 19 nearby dealerships, offering exceptional visibility and access to strong consumer traffic. Within 3 miles of 14041 N Florida Avenue, there is a population of 114,440 and an average household income of $76,141. The asset would be an attractive opportunity for investors looking for no landlord responsibilities, a newly-renovated commercial property, significant parking area for holding inventory, and located adjacent to I-275, one of the primary north-south thoroughfares in the Tampa MSA with 140,000 AADT.

FOR SALE DETAILS

PRICE

$1,794,194 USD

PRICE/SF

$480 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

CG

APN/PARCEL ID

018238-0000

ASK ABOUT THIS PROPERTY

Ari RaviRIPCO Real EstateMore Info
727-452-6864

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Ari RaviRIPCO Real EstateMore Info
727-452-6864

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