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Tire Choice - Lithia, FL 16505 FishHawk Blvd 6,108 SF Retail Building Lithia, FL 33547 $3,461,113 ($566.65/SF) 5.75% Cap Rate
Investment Highlights
- The lease is guaranteed by Monro, Inc. (NASDAQ: MNRO), a publicly traded, national automotive service and tire retailer.
- Built-in rent increases of ~8% at year 5 and year 9 of the term.
- Brand new Chipotle development currently under construction directly in front of the property and Newer HTeaO next door showcasing national tenant.
- With ~8 years remaining on the current 10-year term, plus 1, 5-year renewal option.
- Property is strategically located adjacent to a busy Publix-anchored shopping center, benefiting from strong co-tenancy and consistent daily traffic.
- Average household income exceeding $175,000 within a 1-mile radius and $159,616 within a 3-mile radius.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 6,108 SF Tire Choice, strategically located at 16505 FishHawk Boulevard in Lithia, FL. This offering presents investors with a compelling opportunity featuring an Absolute Triple Net (NNN) Lease with zero landlord responsibilities, providing a highly passive investment structure. The lease has ~8 years remaining on the current 10-year term, along with 1, 5-year renewal option, offering long-term income stability and additional upside potential.
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,108 SF
Building Class
B
Year Built
2008
Price
$3,461,113
Price Per SF
$566.65
Cap Rate
5.75%
NOI
$199,014
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.87 AC
Zoning
PD
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Tire Choice
- Services
- 6,108 SF
- $32.58
- Jun 2034
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Tire Choice | Services | 6,108 SF | $32.58 | Jun 2034 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | U-21-30-21-98G-000000-00005.0 | Improvements Assessment | $939,760 |
| Land Assessment | $516,540 | Total Assessment | $1,456,300 |
Property Taxes
Parcel Number
U-21-30-21-98G-000000-00005.0
Land Assessment
$516,540
Improvements Assessment
$939,760
Total Assessment
$1,456,300
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