RIPCO Real Estate is pleased to offer for sale 2874 Providence Lakes Boulevard, a 6,715 SF, two-tenant retail building shadow anchored by Costco Wholesale in Brandon, Florida. Both tenants hold NNN leases, reimbursing taxes, insurance and CAM and carrying their own HVAC repair and replacement, which leaves the Landlord roof and structure alone. KidsPark signed a new 10-year lease through October 2036, World of Beer has operated in the balance of the building since 2013, and both leases are personally guaranteed. Reimbursements are billed with a 15% administrative fee on CAM. World of Beer’s lease expires May 2028 with one remaining renewal option with a 12% rent increase. World of Beer’s rent is roughly ~40% below market, increasing the likelihood of World of Beer’s renewal while giving the Landlord the ability to increase rents to market upon lease expiration.
A Walmart Supercenter, Starbucks, Truist Bank, Jersey Mike’s and AT&T occupy the surrounding parcels. The I-75 interchange at the Selmon Expressway sits within a half mile. Population within one mile is 15,151, with an average household income of $98,305. The offering delivers a fully occupied, management-light NNN income stream inside an anchored regional corridor, with a genuine repricing point on half the building later in the hold.