Car Dealerships for Sale or Lease

CarLotz Dealership Real Estate For Sale in Florida

Description:


Overview: 15 YR NNN Corporate CarLotz dealership location in Clearwater, FL (Tampa MSA) 6.0% CAP RATE.

• New 15-Year Lease Corporate Guaranteed NASDAQ: LOTZ 123% Increase in Annual Revenue Scheduled Rental Increases

• Brand new 15-year lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site

• The lease is corporate guaranteed by CarLotz, Inc., the nation’s largest consignment to retail used vehicle marketplace

• CarLotz is a publicly traded company (Nasdaq: LOTZ) and one of the fastest growing companies in the U.S. with net revenues increasing by 123% over the past year

• The lease features a 2% rental increases every year throughout the initial term and options to extend, generating NOI and hedging against inflation

Absolute NNN Lease Fee Simple Ownership Zero Landlord Responsibilities No State Income Tax

• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises

• No landlord responsibilities

• Investor benefits from fee-simple ownership of the building and land

• Ideal management-free investment in a state with no state income tax

Location:
Fronting U.S. Hwy 19 Primary Thoroughfare Interstate 275 St. Pete/Clearwater Airport Excellent Visibility & Access

• CarLotz is fronting U.S. Hwy 19, a dominant highway that averages 80,000 vehicles passing by daily

• U.S. Hwy 19 is the primary retail and commuter thoroughfare that serves the St. Petersburg/Clearwater trade are

• Subject property is less than 5 miles West of Interstate 275 (157,000 VPD) and leading into Downtown Tampa

• Positioned near the St. Pete-Clearwater International Airport that serves 2.28 million passengers per year

• The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers

Vehicle Based Trade Area Surrounding Auto Services

• The average car ownership in Clearwater is 2 cars per household with an average commute time of 22.3 minutes according to the Census Bureau

• CarLotz is strategically surrounded by automobile services and local car dealerships, increasing consumer draw to the subject property

Strong Demographics in 5-mile trade area

• More than 124,000 residents and 98,000 employees support the trade area

• Features an average household income of $67,346

Members profile:


Advertised by: Patrick Nutt (click here to see full profile)
Average score 8 after 1 votesAverage score 8 after 1 votesAverage score 8 after 1 votesAverage score 8 after 1 votesAverage score 8 after 1 votes Grade Patrick Nutt
Email: patrick.nutt@srsre.com

Ad Details


Parking Spaces Outside 122
Property is For Sale
Auto Use Allowed Yes
Garage Spaces (put 0 if this does not apply) 50.00
Price $5,500,000 USD

Buildings & Land


Property Name CarLotz
Property Types Parking Structure or Lot, Car Lot or Building, Showroom, Vehicle Related, Retail
Land Types Commercial Other, Retail

Size & Value


Bldg. Size (Sq. Ft.) 19,983
Price/Sq. Ft. 275
Cap Rate 6.0%
Lot/Parcel Size 3.13 AC
Year Built: 1988

Use & Status


Best Property Use Currently Occupied, This is an investment property
Construction Status: Existing Structures
Zoning CG - General Commercial

Unique Sale Issues


Type of Sale Real Estate Agency Sale
Tenants with Current Leases Yes
Net Operating Income 329,824
Occupancy (in %) 100
Lease Type NNN

Website


Website https://srsre.com/property-search?propertyId=898332-sale

Location


Address 13525 US Hwy 19 N
City Clearwater
State FL
Postal Code 33764
Country USA

Call Me!


Phone 954.302.7365
Ad id: 26103956
Ad views:154
Current rating Average score 7 after 1 votesAverage score 7 after 1 votesAverage score 7 after 1 votesAverage score 7 after 1 votesAverage score 7 after 1 votes Grade

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