7620 Palm River Rd
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7620 Palm River Rd
1,500 SF Retail Building Tampa, FL 33619 $1,630,000 ($1,087/SF) 5.18% Cap Rate
Investment Highlights
- NNN Zero landlord responsibility, 7 years remain of base contract.
- Out pad to "save a lot" Discount Grocery store Anchored shopping center.
- East Tampa location with a 5 mile population of 185,929 Located near schools and complementary retailers Such Family Dollar, MC Donald, Walgreen etc.
Executive Summary
Property Details / Detalles de la Propiedad
Price / Precio: US $1,630,000
CAP / Retorno: 5.17%
Building Area / Área de Construcción: Approx. 1,500 Sq. ft = 140 m²
Lot / Terreno: 20,138 Sq. ft = 1,870 m²
NOI / Ingreso Neto: US $84,360
Year Built / Fecha de construcción: 2017
Expenses / Gastos
Annual Expenses / Gastos Anuales: NNN – Tenant is responsible for all expenses, including property tax, insurance, and maintenance.
El inquilino es responsable por todos los gastos, incluyendo impuesto predial, seguro, y mantenimiento.
Lease Terms / Términos del Contrato de Renta
Contract Duration / Duración del Contrato: 7 years remaining until 8/31/2031
7 años de contrato restante hasta 8/31/2031.
Rental Increases / Incrementos de Renta: 2% yearly starting 9/1/2028, including options.
2% de incremento anual empezando el 9/1/2028, incluyendo opciones.
Extensions / Extensiones: Four (4), Five (5)-year options.
Cuatro (4) opciones de cinco (5) años.
Tenant / Inquilino
Guarantor / Garantizado por: Sizzling Caesars, LLC
Largest Little Caesars Franchisee with 300+ stores.
57 years of experience managing 5 brands in 15 states and 5 countries.
Mayor franquiciado de Little Caesars con más de 300 tiendas.
57 años de experiencia manejando 5 marcas en 15 estados y 5 países.
Price / Precio: US $1,630,000
CAP / Retorno: 5.17%
Building Area / Área de Construcción: Approx. 1,500 Sq. ft = 140 m²
Lot / Terreno: 20,138 Sq. ft = 1,870 m²
NOI / Ingreso Neto: US $84,360
Year Built / Fecha de construcción: 2017
Expenses / Gastos
Annual Expenses / Gastos Anuales: NNN – Tenant is responsible for all expenses, including property tax, insurance, and maintenance.
El inquilino es responsable por todos los gastos, incluyendo impuesto predial, seguro, y mantenimiento.
Lease Terms / Términos del Contrato de Renta
Contract Duration / Duración del Contrato: 7 years remaining until 8/31/2031
7 años de contrato restante hasta 8/31/2031.
Rental Increases / Incrementos de Renta: 2% yearly starting 9/1/2028, including options.
2% de incremento anual empezando el 9/1/2028, incluyendo opciones.
Extensions / Extensiones: Four (4), Five (5)-year options.
Cuatro (4) opciones de cinco (5) años.
Tenant / Inquilino
Guarantor / Garantizado por: Sizzling Caesars, LLC
Largest Little Caesars Franchisee with 300+ stores.
57 years of experience managing 5 brands in 15 states and 5 countries.
Mayor franquiciado de Little Caesars con más de 300 tiendas.
57 años de experiencia manejando 5 marcas en 15 estados y 5 países.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
1,500 SF
Building Class
C
Year Built
2017
Price
$1,630,000
Price Per SF
$1,087
Cap Rate
5.18%
NOI
$84,360
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Land Acres
0.46 AC
Opportunity Zone
Yes
Zoning
CG - CG Restaurant Drive In
Amenities
- Restaurant
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
Walk Score ®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | U-23-29-19-ZZZ-000001-50471.5 | Improvements Assessment | $443,244 |
| Land Assessment | $164,222 | Total Assessment | $607,466 |
PROPERTY TAXES
Parcel Number
U-23-29-19-ZZZ-000001-50471.5
Land Assessment
$164,222
Improvements Assessment
$443,244
Total Assessment
$607,466
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Isabel Salcedo -
Leo Ickowicz -
Elite International Realty
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7620 Palm River Rd
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