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150 Pinellas Bayway S 3,729 SF 100% Leased 4-Star Retail Building Saint Petersburg, FL 33715 $6,170,000 ($1,654.60/SF) 5% Cap Rate
Investment Highlights
- Long-term absolute NNN lease with ±14.8 years of primary term remaining
- Adjacent to Tierra Verde Marina undergoing $33M expansion
- Strong demographics with $195K AHHI within 1-mile radius
- Sole gas station and convenience store on Tierra Verde island
- Along Pinellas Bayway, the only route to the islands of Fort De Soto Park
- Tierra Verde is one of Tampa's wealthiest communities
Executive Summary
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the 7-Eleven located at 150 Pinellas Bayway S in Tierra Verde, Florida (“Property” or “Asset”). 7-Eleven is operating on a long term, 15-year absolute NNN lease with zero landlord responsibilities and 10.0% rent increases starting in year 11 and continuing at each of the five, five-year renewal options.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
3,729 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
1984
Price
$6,170,000
Price Per SF
$1,654.60
Cap Rate
5%
NOI
$308,586
Percent Leased
100%
Building Height
1 Story
Zoning
C-2 - Commercial
Somewhat walkable
20/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 17-32-16-90828-000-0052 | Improvements Assessment | $388,163 |
| Land Assessment | $606,837 | Total Assessment | $995,000 |
Property Taxes
Parcel Number
17-32-16-90828-000-0052
Land Assessment
$606,837
Improvements Assessment
$388,163
Total Assessment
$995,000
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150 Pinellas Bayway S
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