Discount Tire 2317 Skyline blvd
7,020 SF Retail Building Cape Coral, FL 33991 $2,717,000 ($387/SF) 4.60% Cap Rate
INVESTMENT HIGHLIGHTS
- POSITIONED IN PROMINENT RETAIL NODE
- HIGH GROWTH CAPE CORAL, FL
- CORPORATE GUARANTEE - STRONG LEASE FUNDAMENTALS
EXECUTIVE SUMMARY
CORPORATE GUARANTEE - STRONG LEASE FUNDAMENTALS
- Abs. NNN Ground Lease Provides Zero Landlord Responsibilities
- 10% Rental Increases every 5 years, including all seven option periods
- 20 year term with seven (7) five (5) year extensions
- Discount Tire currently operates more than 1,200 locations nationwide
PRICED BELOW REPLACEMENT COSTS
- Asset is priced below replacement costs to build a new building
- Below market rents protects the owner from in-market tenant flight risk while also providing additional upside to increase the rent in the future
POSITIONED IN PROMINENT RETAIL NODE
- Over 553K SF of retail space within a 1-mile radius while the Nearby Retailers include: The Home Depot (98th percentile in visits in FL & US), Lowe’s Home Improvement, Publix Supermarket, ALDI, and more
- With a combined VPD of 75,000 at the intersection, the site benefits from multiple convenient points of ingress and egress, ensuring easy access and maximum exposure
NEW CONSTRUCTION
- Tenant is self-constructing the building to meet their specific use and prototype
DENSE RESIDENTIAL AREA
- Within a 1-mile radius of the Discount Tire the Average Household Income is over $89K
- In the 5-miles surrounding the site there are over 68K homes according to
- Within a 1-mile radius of the site there are 160 units of multifamily with a 12 month absorption of 82 units
HIGH GROWTH CAPE CORAL, FL
- Cape Coral is the 8th largest city in Florida and the largest city between Tampa and Miami
- With its strategic location and rapid development, Cape Coral is projected to experience a 42% growth in population over the next 10 years
- Abs. NNN Ground Lease Provides Zero Landlord Responsibilities
- 10% Rental Increases every 5 years, including all seven option periods
- 20 year term with seven (7) five (5) year extensions
- Discount Tire currently operates more than 1,200 locations nationwide
PRICED BELOW REPLACEMENT COSTS
- Asset is priced below replacement costs to build a new building
- Below market rents protects the owner from in-market tenant flight risk while also providing additional upside to increase the rent in the future
POSITIONED IN PROMINENT RETAIL NODE
- Over 553K SF of retail space within a 1-mile radius while the Nearby Retailers include: The Home Depot (98th percentile in visits in FL & US), Lowe’s Home Improvement, Publix Supermarket, ALDI, and more
- With a combined VPD of 75,000 at the intersection, the site benefits from multiple convenient points of ingress and egress, ensuring easy access and maximum exposure
NEW CONSTRUCTION
- Tenant is self-constructing the building to meet their specific use and prototype
DENSE RESIDENTIAL AREA
- Within a 1-mile radius of the Discount Tire the Average Household Income is over $89K
- In the 5-miles surrounding the site there are over 68K homes according to
- Within a 1-mile radius of the site there are 160 units of multifamily with a 12 month absorption of 82 units
HIGH GROWTH CAPE CORAL, FL
- Cape Coral is the 8th largest city in Florida and the largest city between Tampa and Miami
- With its strategic location and rapid development, Cape Coral is projected to experience a 42% growth in population over the next 10 years
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,020 SF
Building Class
B
Year Built
2025
Price
$2,717,000
Price Per SF
$387
Cap Rate
4.60%
NOI
$125,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.64
Lot Size
0.25 AC
Zoning
C-1
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 26-44-23-C4-01906.0200 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $30,911 |
