CarLotz Dealership Real Estate For Sale in Florida
Description: |
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| 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 |
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Members profile: |
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| Advertised by: | Patrick Nutt (click here to see full profile) |
| Email: | |
Ad Details |
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| 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 |
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| Property Name | CarLotz |
| Property Types | Parking Structure or Lot, Car Lot or Building, Showroom, Vehicle Related, Retail |
| Land Types | Commercial Other, Retail |
Size & Value |
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| 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 |
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| Best Property Use | Currently Occupied, This is an investment property |
| Construction Status: | Existing Structures |
| Zoning | CG - General Commercial |
Unique Sale Issues |
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| Type of Sale | Real Estate Agency Sale |
| Tenants with Current Leases | Yes |
| Net Operating Income | 329,824 |
| Occupancy (in %) | 100 |
| Lease Type | NNN |
Website |
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| Website | https://srsre.com/property-search?propertyId=898332-sale |
Location |
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| Address | 13525 US Hwy 19 N |
| City | Clearwater |
| State | FL |
| Postal Code | 33764 |
| Country | USA |
Call Me! |
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| Phone | 954.302.7365 |
| Ad id: | 26103956 |
| Ad views: | 3027 |