NNN Leased Investment
NNN Leased Citibank (sub-tenant Genghis Grill)
Asking Price $3,548,831 CAP Rate 7.00%
NOI $248,418
Rentable Sq. Ft. 4,576
sf
Land Area 1.11
acres
Tenant Citibank (Genghis
Grill subtenant)
Landlord Responsibilities None
Renovated 2011
Lease Type NNN
Lease Term 15
years
Lease Commencement June
1, 2007
Options Two
(2), five (5) year
Increases 2%
Annually
NNN Leased
4003 W Neptune St Tampa, FL 33629
Asking Price $4,020,392 CAP Rate 7.50%
NOI $248,418
Rentable Sq. Ft. 4,576
sf
Land Area 1.11 acres
Tenant Citibank
(Genghis Grill subtenant)
Landlord Responsibilities
None
Renovated 2011
Lease Type NNN
Lease Term 15 years
Lease Commencement June
1, 2007
Options Two
(2), five (5) year
Increases 2%
Annually
HIGHLIGHTS
Synovus Bank
This
Synovus Bank property allows a passive investor the opportunity to purchase a
premier South Tampa location with minimal equity through assuming the existing
non-recourse debt.
An ideal
bank location, the property sits along Henderson Ave, just blocks from Palma
Cia Neighborhood, a premier business and residential area of South Tampa.
The
unique lease features 2.5% rental increases every year throughout the primary
term and all option periods.
In
addition, the option periods are structured as 5 - 5 year terms. Citibank (Genghis Grill)
This
recently renovated property lies adjacent to Walgreen’s, Arby’s and Westfield
Brandon Shopping Mall in the heart of the major commercial corridor for this
densely populated Tampa Suburb.
With
over 2,000,000sf of retail space in the immediate area, this is a prototypical
in-fill location at a high traffic lighted intersection, providing the tenant
premier visibility and exposure.
Genghis
Grill has negotiated with Citibank as a subtenant for the remainder of Citibank
lease so you will have Citibank credit with a major franchisee for the term and
eager to extend the lease after expiration.
At a 7% CAP the buyer would recapture 76.65% of the
investment over the term of the remaining lease.
For More information Contact:
You may visit our website
to view the entire NNN Leased Investment Properties
For More information Contact:
Scott Black
Patrick Nutt
Associate Vice President
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