Tire Choice Anchored Retail Strip | 445 99th Ave N
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Tire Choice Anchored Retail Strip 445 99th Ave N
11,220 SF 100% Leased Retail Building Saint Petersburg, FL 33702 $3,929,540 ($350/SF) 6.45% Cap Rate
Investment Highlights
- Corporate lease with Monro Muffler Brake, Inc. (NYSE: MNRO)
- St. Petersburg is one of the nation’s fastest growing cities
- Fixed rent increases for each tenant
- Very successful build-to-suit location for Monro since 2016 with a 10% rent increase coming up in 2026
- Ideally located for service-oriented retail in a densely populated area with above average household incomes
- NO STATE INCOME TAX, Florida is the Highest Net Domestic Migration/ Growth State in the U.S.
Executive Summary
CBRE is pleased to present this 100% leased three-tenant retail property anchored by Monro Muffler Brake, Inc. (dba Tire Choice) in one of Florida’s fastest growing cities, St. Petersburg. Located just off Gandy Boulevard, this building is ideally positioned for service-oriented retail tenants in a densely populated and upper income area that’s surrounded by high number of businesses and major employers providing for a very high daytime population. Excellent access, signage and exposure provided by the property’s proximity to Gandy Boulevard North and 4th Street North.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
11,220 SF
Building Class
B
Year Built
2016
Price
$3,929,540
Price Per SF
$350
Cap Rate
6.45%
NOI
$253,455
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
3.60 AC
Zoning
PD - Planned Development
Parking
60 Spaces (5.35 Spaces per 1,000 SF Leased)
Frontage
100 FT on 99th Ave
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19-30-17-97311-001-0011 | Improvements Assessment | $932,970 |
| Land Assessment | $767,030 | Total Assessment | $1,700,000 |
PROPERTY TAXES
Parcel Number
19-30-17-97311-001-0011
Land Assessment
$767,030
Improvements Assessment
$932,970
Total Assessment
$1,700,000
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Tire Choice Anchored Retail Strip | 445 99th Ave N
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