Investment Highlights
- New, 15-Year, Triple Net (NNN) Ground Lease With Full Term Remaining
- Brand New Location, Construction Commencing in First Quarter of 2024 – Building Constructed by Tenant
- Corporate Guaranteed Lease With Mavis Southeast, LLC
- Directly Off Interstate 75 With a Traffic Count of More Than 157,000 Vehicles Daily
- Adjacent to Walmart Supercenter and Located at the Entrance to a New, 30-Acre Retail Development at the Southwest Quadrant of I-75 and Gibsonton Drive
- 30-Acre Retail Development Consists of AMC Riverview 14, a 14-Screen, State-of-the-Art Movie Theater – Other Tenants Include Dollar Tree, Zaxby’s, Dunkin Donuts, McAlister’s Deli, Cracker Barrel, Extended Stay Hotel, and More!
- Riverview is a Suburban Community Located in Hillsborough County, Florida, South of Tampa and Part of the Tampa Metro Area
- Tampa-St. Petersburg Metro Area Contains Over 3 Million Residents
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a brand new Mavis Tires & Brakes in Riverview, FL, a suburb of Tampa. This is a new, 15-year, triple net ground lease with full term remaining. The lease is a corporate guarantee with Mavis Southeast, LLC. The lease offers the tenant five, five-year renewal options with eight percent rent increases every five years in the base term and option periods.
The property is adjacent to a Walmart Supercenter, providing additional traffic and exposure. The Mavis is located at the entrance to a new, 30-acre retail development at the southwest quadrant of Interstate 75 and Gibsonton Drive. Other tenants within the development include a state-of-the-art 14-screen AMC movie theatre, Cracker Barrell, Dollar Tree, Zaxby’s, Dunkin Donuts, McAlister’s Deli, Extended Stay Hotel, and more.
Riverview is a suburban community located in Hillsborough County, Florida just south of Tampa, and is part of the Tampa-St. Petersburg metropolitan area. The Tampa metro area contains more than 3 million residents. Riverview has experienced significant growth over the years, with an influx of new residents and housing developments. Riverview’s population had been steadily increasing due to its proximity to the Tampa Bay area and the state’s overall population growth. Hillsborough County is the third fastest-growing county in Florida.
The area has strong demographics with the population over 166,000 within five miles of the Subject Property, and over 275,000 in seven miles. Surrounding national brands include AMC Riverview 14 Movie Theatre, Walmart Supercenter, Lowe’s, Planet Fitness, The Fresh Market, Aldi, Bealls Outlet, Dollar Tree, Cracker Barrel, Ruby Tuesday, Zaxby’s, Taco Bell, McDonald’s, Pizza Hut, Waffle House, McAlister’s Deli, Arby’s, Subway, Burger King, Mattress Firm, Tire Kingdom, Advance Auto Parts, Wawa, 7-Eleven, Circle K, Extended Stay America, Suncoast Credit Union, CVS, Walgreens and many more.
