Net-Leased Tire Service
1429 10th Street E PALMETTO, Palmetto, FL 34221
New
Single-tenant Tire Kingdom property offered on a triple-net basis with an established automotive service operator.
Property size:
8,400 SFPrice / SF:
$190/SF- Added:
- Jul 5, 2026
- Days on Market:
- 3
- Last Refresh:
- Jul 6 at 1:55 am
Property Features for 1429 10th Street E PALMETTO
General Information
- Standard status
- Active
- Size
- 8,400 SF
Building Details
- Year Built
- 1987
Listing office (904) 569-5862
Listing date Jul 5, 2026
Source Movetojacksonville
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Martina Jordan
HighLights
- Single‑tenant Tire Kingdom property with a triple‑net (NNN) lease structure
- Tenant: Tire Kingdom / Mavis Tire Express Services Corp., operating at a nationally recognized automotive service provider
- Approx. 4 years remaining on the current lease term plus two 5‑year renewal options
- Current annual NOI is approximately $95,166
- Built in 1987; 8,400 total building area on a 0.78‑acre city lot (169 x 201)
- Public utilities with paved/asphalt city street frontage; near public transit and street lights
Overview
The property is a net-leased tire and automotive service facility currently occupied by Tire Kingdom, operated by Mavis Tire Express Services Corp. The offering is structured as a Triple Net (NNN) lease, with the tenant in place and the landlord responsibilities limited to typical NNN parameters as described in the marketing materials. The lease is in effect with approximately four years remaining, plus two additional five-year renewal options, supporting continuity of occupancy through future extension periods.
The site is positioned along a major commercial corridor in Palmetto, Florida, and is described as offering excellent visibility and strong traffic counts for an essential-service use. The property is presented as an established automotive service center serving surrounding residential and commercial demand within the Tampa Bay/Sarasota growth corridor.
For investors, this is a turn-key, single-tenant retail investment tied to a nationally recognized tire and automotive service operator, with a long-term lease structure including renewal options as stated. For tenant considerations, the property supports the ongoing requirements of an automotive tire service business under an NNN framework, backed by a proven operating history at this location as presented in the offering materials.
The site is positioned along a major commercial corridor in Palmetto, Florida, and is described as offering excellent visibility and strong traffic counts for an essential-service use. The property is presented as an established automotive service center serving surrounding residential and commercial demand within the Tampa Bay/Sarasota growth corridor.
For investors, this is a turn-key, single-tenant retail investment tied to a nationally recognized tire and automotive service operator, with a long-term lease structure including renewal options as stated. For tenant considerations, the property supports the ongoing requirements of an automotive tire service business under an NNN framework, backed by a proven operating history at this location as presented in the offering materials.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.2k | $18.00 |
| − Vacancy | −$3.6k | −$0.43 |
| EGI | $147.6k | $17.57 |
| − OpEx | −$44.3k | −$5.27 |
| NOI | $103.3k | $12.30 |
8,400 SF · lease $18.00/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,300 @ 7.0% cap · market cap 6.46%
Second Best
Industrial
$1.01M
$883.3K – $1.18M
NOI $70,667 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,912 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Auto shops
Similar Places Nearby
- Vic's Performance Transmission & Automotive — 1210 11th St E, Palmetto, FL 34221
- Walmart Auto Care Centers — 508 10th St E, Palmetto, FL 34221
- Lex's Automotive — 1045 Hasko Rd, Palmetto, FL 34221
- Tire Kingdom — 1429 US-301, Palmetto, FL 34221
- Everglades Equipment Group — 906 US-301, Palmetto, FL 34221
Location Insight
- Map
- Local Demand
- City
- Palmetto
- County
- Manatee
- State
- Florida
- Longitude
- -82.5762206
- Latitude
- 27.5218491
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Single-tenant Tire Kingdom property offered on a triple-net basis with an established automotive service operator.
Where is this auto shop located?
The property is located at 1429 10th Street E PALMETTO Palmetto, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Single‑tenant Tire Kingdom property with a triple‑net (NNN) lease structure; Tenant: Tire Kingdom / Mavis Tire Express Services Corp., operating at a nationally recognized automotive service provider; Approx. 4 years remaining on the current lease term plus two 5‑year renewal options
