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702 Pebble Beach 4,058 SF Retail Building Sun City Center, FL 33573 $2,600,000 ($640.71/SF) 4.37% Cap Rate
Investment Highlights
- Absolute NNN ground lease to JPMorgan Chase Bank, N.A., with zero landlord responsibilities and truly passive income.
- Long remaining primary term (through April 30, 2033) plus four 5-year renewal options, for up to 40 years of potential tenancy
- Strong banking credit and established Sun City Center, FL location within the Tampa Bay MSA
- Positioned to trade, targeting premium 1031 and passive net-lease buyers
Executive Summary
Introducing an exceptional opportunity for retail and street retail investors in the thriving Sun City area of FL. This 4,058 SF building, completed in 2013, is currently 100% occupied under an Absolute NNN ground lease to JPMorgan Chase Bank, N.A., offering a truly passive income stream with zero landlord responsibilities. Boasting a prime location within the Tampa Bay MSA and the assurance of strong banking credit, this property presents a compelling investment proposition. With a long remaining primary term extending through April 30, 2033, and the potential for up to forty years of tenancy through four 5-year renewal options, this property is perfectly positioned to attract premium 1031 and passive net-lease buyers seeking a secure and lucrative investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
4,058 SF
Building Class
B
Year Built
2013
Price
$2,600,000
Price Per SF
$640.71
Cap Rate
4.37%
NOI
$113,741
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.67 AC
Zoning
CG - General Commercial
Parking
20 Spaces (4.93 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
Chase traces its roots to predecessor institutions founded in 1799 and later became Chase Manhattan Bank through a 1955 merger, before joining with J.P. Morgan & Co. in 2000 to form the current banking business. The company serves as the U.S. consumer and commercial banking business of JPMorgan Chase and offers checking and savings accounts, credit cards, home loans, auto financing, and digital banking services. Chase also provides investing and wealth management offerings through J.P. Morgan, alongside commercial banking and corporate and investment banking activities that support households, businesses, and institutional clients.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | U-12-32-19-ZZZ-000001-78380.0 | Improvements Assessment | $1,370,500 |
| Land Assessment | $100 | Total Assessment | $1,370,600 |
Property Taxes
Parcel Number
U-12-32-19-ZZZ-000001-78380.0
Land Assessment
$100
Improvements Assessment
$1,370,500
Total Assessment
$1,370,600
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702 Pebble Beach