Walgreens | 5% Increases 4255 Commercial Way 15,038 SF Retail Building Spring Hill, FL 34606 $4,273,429 ($284.18/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute NNN Lease with no landlord maintenance responsibilities
- Located Across From a Target & Publix-Anchored Center along Spring Hill’s main commercial
- 5% Rent Increases every 5-years during the primary term and 12, 5-year option periods
- Excellent Visibility on Commercial Way with average daily traffic counts of 42,332 VPD
EXECUTIVE SUMMARY
Long Term Absolute NNN Lease with no landlord maintenance responsibilities
5% Rent Increases every 5-years during the primary term and 12, 5-year option periods
Located Across From a Target & Publix-Anchored Center along Spring Hill’s main commercial
Excellent Visibility on Commercial Way with average daily traffic counts of 42,332 VPD
Tampa Bay MSA Location** - Home to over 3.2 million residents
Well-Established Retail Location with over 26 years of operational history
(1) Rentable Area, Lot Size, Guarantor, Lease Terms, Building Specifications, Year Built, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence process.
5% Rent Increases every 5-years during the primary term and 12, 5-year option periods
Located Across From a Target & Publix-Anchored Center along Spring Hill’s main commercial
Excellent Visibility on Commercial Way with average daily traffic counts of 42,332 VPD
Tampa Bay MSA Location** - Home to over 3.2 million residents
Well-Established Retail Location with over 26 years of operational history
(1) Rentable Area, Lot Size, Guarantor, Lease Terms, Building Specifications, Year Built, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence process.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
15,038 SF
Building Class
B
Year Built
1998
Price
$4,273,429
Price Per SF
$284.18
Cap Rate
7%
NOI
$299,140
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.20
Lot Size
1.74 AC
Parking
35 Spaces (2.33 Spaces per 1,000 SF Leased)
Frontage
371’ on Commercial Way
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R15-423-17-0000-0040-0000 | Improvements Assessment | $1,990,444 |
| Land Assessment | $568,439 | Total Assessment | $2,558,883 |
