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3970 SW 3rd St
Ocala, FL 34474
Northern Tool + Equipment · Retail Property For Sale
Investment Highlights
- Change header to: Corporate Guarantee | 18-Year Operating History | Adjacent to a Soon-to-be CUI Heat
- Interstate 75 Corridor | Visibility to 100,500 VPD
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Fast-Growing & Affluent Trade Area | Ocala MSA (#1 in U.S. Population Growth)
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Northern Tools + Equipment investment property located in Ocala, Florida. The tenant, Northern Tool & Equipment Company, Inc has approximately 7 years remaining on their lease with 2 (5-year) options to extend, demonstrating commitment to the site. The lease features 5% rental increases every 5 years throughout the remainder of the term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
26,054 SF
Building Class
B
Year Built
2008
Price
$5,259,000
Price Per SF
$201.85
Cap Rate
6.75%
NOI
$355,000
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.19
Lot Size
3.15 AC
Zoning
B2 - Community Business
Parking
67 Spaces (2.57 Spaces per 1,000 SF Leased)
Frontage
272’ on SW 3rd St
Amenities
- Freeway Visibility
- Signage
Property Taxes
| Parcel Number | 22866-004-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,513,565 |
Property Taxes
Parcel Number
22866-004-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,513,565
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