Tire Choice Lehigh Acres, Florida

$2,360,000
Cap Rate: 5.75%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.75%
Price: $2,360,000
Rentable Square Feet: 5,500
Annual Rent: $135,737
Price PSF: $429.09
Land Area: 0.88 Acres
Year Built: 2019
Lease Type: Modified NNN
Lease Term: 10 Years
Option Periods: 2, 5-Year Options
Rent Increases: 10% Every 5 Years
Lease Expiration: 10/31/2029 est

3310 Lee Blvd.
Lehigh Acres, Florida 33971

Investment Highlights

  • Monro Inc. Owns and Operates More Than 1,240 Stores Through 10 Brands
  • Brand New, 10-Year, Modified NNN Lease
  • 20-Year Roof Warranty
  • Brand New Construction; Scheduled to Open November 2019
  • Increases Every Five Years Throughout Base Term and Option Periods
  • Lease is With Monro, Inc Which is a Public Company
  • Located on Lee Boulevard, with a Daily Traffic Count of More Than 46,000 Vehicles.
  • 12 Miles from Fort Myers, One of the Top Travel Destinations in the US
  • Directly Across the Street from a Brand New, 65,000 Square Foot Medical Center

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Tire Choice located at 3310 Lee Boulevard in Lehigh Acres, Florida. Tire Choice offers a new, 10-year, corporate guaranteed, modified triple net lease and a 20-year roof warranty. There are two, five-year renewal options with 10 percent rental increases every five years throughout the base term and option periods.

The lease is of the subject property is with Monro, Inc, which is a public company. Monro, Inc. owns and operates more than 1,240 stores through 10 brands.

Tire Choice is located on Lee Boulevard, with a daily traffic count of more than 46,000 vehicles. The subject property is located 12 miles from Fort Myers, and the surrounding area is continually ranked among the top travel destinations in the United States, funneling tourism dollars into the local economy. Family Health Centers of Southwest Florida, Inc. is in the process of constructing a 65,000 square foot medical center across the street from the subject property. This facility in expected to be open in November 2019.

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