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2317 Skyline BlvdCape Coral, FL 33991
Discount Tire | 20-Yr Abs. NNN Corp. Lease
Asset ClassRetail
MSACape Coral, FL
4.70% Cap
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Discount Tire in Cape Coral, FL. The Premises is leased to the Discount Tire for a 20 year initial term. The Asset is positioned in a major retail node in rapidly growing Cape Coral, Florida.

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Investment Highlights

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
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2317 Skyline BlvdCape Coral, FL 33991
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Listing provided by Revere CRE