Investment Highlights
- New, 20-Year, NNN Lease with Two, Five-Year Renewal Options
- 5% Rent Increases Every 5 Years Throughout the Base Term and Option Periods
- Action Gator Tire Has Been Operating for Over 55 Years Serving the Auto-Related Needs of Central Florida
- Brand New Location; Scheduled to Open November 2020
- Significant Development of New Multifamily Projects in the Immediate Area
- Located Next to 40-Acre Mixed Use Development Including Luxury Apartments, Town Homes, Retail and First-Class Restaurants
- One Mile from Interstate 4 With a Daily Traffic Count of 125,000 Vehicles
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Action Gator Tire in a high growth submarket of the Orlando, FL MSA. This Action Gator Tire offers a new, 20-year, corporate guaranteed, triple net lease. The lease features two, five-year renewal options with five percent rent increases every five years throughout the base term and option periods. This is a brand-new location, scheduled to open in November 2020. Action Gator Tire has been operating for over 55 years, serving the auto-related needs of Central Florida.
The submarket (Davenport) is experiencing explosive growth, and significant development of new multifamily projects in the immediate area surrounding the subject property which residents will provide a great base of customers for auto-related service. This Action Gator Tire is located next to a 40-acre mixed use development including luxury apartments, town homes and retail. New retail tenants in the area include Aldi, Wawa, Taco Bell and Tire Kingdom.
The subject property is adjacent to a Publix-anchored shopping center, with other surrounding national retailers including Anytime Fitness, Olive Garden, Long Horn Steakhouse, McDonald’s, Subway, Dunkin Donuts, Chili’s Grill & Bar, Orlando Ale House, Wendy’s, Wells Fargo, Walgreens, CVS and others. The property is one mile from Interstate 4 with a daily traffic count of 125,000 vehicles.
The subject property is nine miles from Walt Disney World. Davenport is part of the Orlando metro area which is one of the largest and fastest growing areas in Florida and has a population of more than 2.4 million residents. Nearby attractions at ChampionsGate include Four-Diamond Omni Resort with more than 700 rooms, the Villas at ChampionsGate and Mystique Golf Resort; and one mile from the subject property, Orlando Health is developing 25-acres for a new medical campus with more than 2,000 employees.
