1524 4th Street South, St. Petersburg, FL
Retail for Sale - $2,352,232 - 117,662 Sq. Ft. on 2092 acres
Agent Info
| Rodney Colvert |
Property Info
| CIMLS# | 1149951 |
| Location 1524 4th Street South St. Petersburg FL 33701 | |
| Updated | October 12th, 2023 |
| Type | Retail |
| Price | $2,352,232 |
| Building | 117,662 Sq. Ft. |
| Land | 2092 acres |
Property Description
Long-Term Leased Dunkin’ & Baskin Robbins Single Tenant NNN Offering in St Petersburg, FL.
Just under 10 years remaining on the original 15 year lease.
Attractive and well maintained building with drive-through service (Actual Photos listed throughout OM).
Experienced and Large Operator – Purple Square Management owns and operates over 245 franchise locations with national brands such as Dunkin’/Baskin Robbins, Popeyes, Rent-A-Center, Take 5 Oil Change, and AFC Urgent Care.
Ideal dual-branded concept allows for continued customer traffic and demand throughout the day into the night.
Strong positioned real estate with numerous retail, residential, industrial, office and education facilities within the immediate vicinity.
Dense demographics with population over 85,000 people within a 3-mile radius.
Financials
NOI - $117,662
Cap Rate - 5.00%
Lease Guarantor Purple Square Management LLC
Lease Commencement Date 8/22/2017
Lease Expiration Date 8/21/2032
Original Lease Term 15 Years
Lease Term Remaining ±9 Years
Rent Increases 10% Every 5 Years
Option Periods Four, 5-Year Options
Lease Type Absolute NNN
Landlord Responsibilities None
