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Views: 69 DOM: 70 Updated: 02.08.24 Posted: 10.30.23 Status: Sold 01.08.24

Summary

Price $1,450,000 $1,550,000
Built/Renov 2003
Tenant MAACO
Cap Rate 6.62% 6.19%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,826
Lease Start 07-01-2023
#Units 417
Price/SF $378.99 $405.12
Expiration 07-30-2028
Tenant Type Automotive
NOI $96,000
R. Term 3.8
Ownership Fee Simple
Rent/SF $25.09
Increases 3.0%/1/yrs
Pop 5Mi 235,810
Lot/AC 0.68
Options 1/5yrs/3%
AHHI 5Mi $92,951

Lease Highlights

  • The tenant, Maaco, has 4+ years remaining on their lease with 1 (5-year) option to extend
  • The lease features 3% rental increases annually
  • Absolute NNN | Zero landlord responsibilities
  • Below market rent per square foot ($13 vs $25)
  • No State income tax

Location Description

Maaco is strategically fronting Tyrone Boulevard North (Hwy 595) and benefits from a high traffic count of 49,000 vehicles passing by daily. The surrounding trade area is densely populated and supported by various national/credit tenants, including Target, Publix, Walmart Supercenter, Kohl's, Total Wine, and more. The property enjoys excellent visibility and offers multiple points of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: MAACO
  • Guarantor:Franchisee
  • Company:Driven Brands Holdings, Inc.
  • # Units:417
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: DRVN

About Tenant

MAACO Collision Repair & Auto Painting is the leading franchisor of auto paint and collision repair shops. MAACO repairs accident damage, dents, and faded paint for nearly 500,000 drivers...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
Tyrone Blvd N Tyrone Blvd 2011 40,000 0.02 mi
Tyrone Boulevard North 62nd St N 2022 38,500 0.03 mi
Tyrone Boulevard North Bay Pines Blvd 2021 38,500 0.04 mi
Park St N 40th Ave N 2011 21,000 0.11 mi
Park St N 37th Ave N 2011 23,639 0.19 mi
Pinellas Trl 38th Ave N 2011 16,500 0.26 mi
Tyrone Blvd N 34th Ave N 2011 30,000 0.54 mi
Bay Pines Blvd Seahorse Dr 2011 45,000 0.55 mi
46th Ave N 73rd St N 2011 6,000 0.87 mi
Bay Pines Boulevard Bay Pines Blvd 2022 49,000 0.91 mi

Listing Broker

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