Action Gator Tire Clermont,Florida

$3,810,000
Property type:Single-Tenant Net Lease

The space

  • Price: $3,810,000
  • Rentable Square Feet: 6,777 SF
  • Annual Rent: $219,000
  • Price PSF: $562.20
  • Land Area: 1.44 Acre
  • Year Built: 2020
  • Lease Guarantor: Corporate
  • Lease Type: NNN
  • Lease Term: 20 Years

Description

Property Address TBD; Subject Property is Across the Street from
Chick-fil-A @ 16110 Hammock Ridge Rd, Clermont, FL 34711

Investment Highlights

  • Brand New, 20-Year, Triple Net (NNN) Corporate Lease
  • Two, Five-Year Options with Five Percent Rental Increases Every Five Years Throughout Base Term and Option Periods
  • New Construction; Target Opening Date of May 1, 2020
  • Part of the Orlando MSA with a Population of More Than 2.4 Million
  • Population in Area Projected to Grow by Over 20 Percent in the Next Five Years
  • Located off Highway 27 with a Daily Traffic Count of More Than 35,000 Vehicles
  • Surrounding National Retailers Include Walmart Supercenter, Aldi, Lowe’s, Publix, Kohl’s, Michael’s, TJ Maxx, Staples, Pet Supermarket, Chick-fil-A, McDonald’s, Arby’s, Olive Garden, Texas Roadhouse, Buffalo Wild Wings, Dunkin Donuts, CVS, Walgreens, Bank of America, PNC Bank and Many More
  • Within Walking Distance of Vineyards at Hammock Ridge, Brand New, 280-Unit Apartment Complex Under Construction
  • Orlando is a Top Vacation and Business Convention Destination and is Home to Theme Parks and Tourist Attraction
  • Orlando Metro is Expected to Add Nearly 248,000 People Over the Next Five Years

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Action Gator Tire located in Clermont, Florida. Action Gator Tire has a new, 20-year triple net lease with two, five-year renewal options. There are five percent rental increases every five years throughout the base term and option periods. This is a brand-new location and scheduled to open May 1, 2020.

The subject property is located off Highway 27 with a daily traffic count of more than 35,000 vehicles. Surrounding national retailers include Walmart Supercenter, Aldi, Lowes, Publix, Kohls, Michaels, TJ Maxx, Staples, Pet Supermarket, Chick-fil-A, McDonalds, Arbys, Olive Garden, Texas Roadhouse, Buffalo Wild Wings, Dunkin Donuts, CVS, Walgreens, Bank of America, PNC Bank and many more.

The subject property is within walking distance of Vineyards at Hammock Ridge, a brand-new, 280-unit apartment complex which is currently under construction. This Action Gator Tire is in Clermont where the population in the area projected to grow by over 20 percent in the next five years. Its also part of the Orlando metropolitan statistical area which has a population of more than 2.4 million.

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