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Pinellas Park, FL - JD Byrider
7701 Park Boulevard North | Pinellas Park, FL 33781
$3,627,000
Price6.8%
Cap Rate$246,669
NOI14,492
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, Byrider investment property located in Pinellas Park, Florida (Tampa MSA). The tenant, Discovery Byrider, Inc., has over 8 years remaining on initial lease term with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 2% annual rental increases throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed by SAJE Florida LLC. and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1989 as J.D. Byrider, one of America’s largest buy-here-pay-here used car dealership and franchise systems, has sold more than 1.33 million cars at more than 140 locations across the country.
Location
The subject property is strategically located along Park Blvd benefiting from significant street frontage and an average of over 50,500 vehicles passing by daily, with clear visibility and access to Belcher RD/71st St (40,200 VPD). The property is ideally situated within a dense retail corridor with many nearby national/credit tenants including Publix Super Market, Lowe’s Home Improvement, Sam’s Club, Walmart Neighborhood Market, CVS Pharmacy, and others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is within close proximity to numerous single-family communities and multi-family complexes including Freedom Village (89 units), Parkside Commons (60 units), The Lodges at Pinellas Park (120 units), and others, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 260,160 residents and 132,836 daytime employees, with an average annual household income of $75,906.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215