Investment Offering
Clearwater, FL - CarLotz
13525 US Highway 19 N | Clearwater, FL 33764
$5,500,000
Price6%
Cap Rate$329,824
NOI19,983
± SF Offering GLA3.13
± AC Land AreaDescription
New 15-Year Lease | Corporate Guaranteed | NASDAQ: LOTZ | 123% Increase in Annual Revenue | Scheduled Rental Increases
• Brand new 15-year lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by CarLotz, Inc., the nation’s largest consignment to retail used vehicle marketplace
• CarLotz is a publicly traded company (Nasdaq: LOTZ) and one of the fastest growing companies in the U.S. with net revenues increasing by 123% over the past year
• The lease features a 2% rental increases every year throughout the initial term and options to extend, generating NOI and hedging against inflation
Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the building and land
• Ideal management-free investment in a state with no state income tax
Location
Fronting U.S. Hwy 19 | Primary Thoroughfare | Interstate 275 | St. Pete/Clearwater Airport | Excellent Visibility & Access
• CarLotz is fronting U.S. Hwy 19, a dominant highway that averages 80,000 vehicles passing by daily
• U.S. Hwy 19 is the primary retail and commuter thoroughfare that serves the St. Petersburg/Clearwater trade are
• Subject property is less than 5 miles West of Interstate 275 (157,000 VPD) and leading into Downtown Tampa
• Positioned near the St. Pete-Clearwater International Airport that serves 2.28 million passengers per year
• The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers
Vehicle Based Trade Area | Surrounding Auto Services
• The average car ownership in Clearwater is 2 cars per household with an average commute time of 22.3 minutes according to the Census Bureau
• CarLotz is strategically surrounded by automobile services and local car dealerships, increasing consumer draw to the subject property
Strong Demographics in 5-mile trade area
• More than 124,000 residents and 98,000 employees support the trade area
• Features an average household income of $67,346
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739