605 67th St E cir - Freestanding FOR SALE


Bradenton, FL 34208
$1,619,048 USD
727-452-6864
605 67th St E cir, Bradenton, FL for Sale
$1,619,048 USD
Freestanding - FOR SALE
1/3
null | 5.25% Cap Rate

605 67th St E cir
Bradenton, FL 34208


HIGHLIGHTS

  • New, 7-year Absolute NNN lease signed by Avis Budget Car Rental LLC with +3% annual rent increases to hedge against inflation
  • Opportunity to generate additional income through percentage rent. Avis pays the greater of 8% of sales or a minimum annual guaranteed rent
  • Corporate lease with Avis Budget Car Rental LLC, a subsidiary of Avis Budget Group Inc.
  • Located just off the intersection of Manatee Avenue East and Interstate 75, providing easy access to the west coast of Florida
  • Manatee Avenue East has an AADT of 60,000 and I-75 has and AADT of 131,000

OVERVIEW

RIPCO Real Estate is pleased to offer for sale 605 67th Street Circle East, a ±500 SF commercial property leased to Avis Budget Car Rental, currently under construction, located just off Manatee Avenue East and Interstate 75 in Bradenton, FL. Avis Budget Car Rental recently signed a new 7-year absolute NNN lease with two (2) 5-year options to extend, highlighting their dedication to this location. The lease contains +3% rental increases every year, providing the Landlord with management-free income and a built-in hedge against inflation. This intersection of Manatee Avenue East and Interstate 75, where the property is located has a combined AADT of over 190,000. Within 3 miles of the Avis Budget Car Rental, there is a population of 32,939 and an average household income of $124,249. The asset would be an attractive opportunity for investors looking for management-free income, a newly constructed building, and with a newly signed lease by a strong national tenant.

FOR SALE DETAILS

PRICE

$1,619,048 USD

PRICE/SF

$3,238 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Avis Car Rental

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2027

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,480 SF

ZONING

-

APN/PARCEL ID

11089-0100-8

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.