Stonewood Grill NNN Sale
For Sale
$3,491,000
17050 Palm Pointe Dr, Tampa, FL 33647
NNN sale leaseback opportunity with a new 10-year lease.
Property Size6,969 SF
Price / SF$500.93
Days on Market270
Property Features for 17050 Palm Pointe Dr
General Information
Standard status
Active
Size
6,969 SF
Property subtype
Retail
Building Details
Year Built
2002
Listing Agency:
(386) 566-3726
Listed By:
Carl W. Lentz IV, MBA, CCIM · License #FL #BK3068067
(386) 566-3726
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 17 at 4:07AM
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 Carl W. Lentz IV, MBA, CCIM
Investment Insights
Based on property information with market context.
This property features a Stonewood Grill & Tavern operating under a NNN sale-leaseback agreement. The tenant will execute a new 10-year lease agreement. Founded in 1998, Stonewood has 7 Florida locations. The stand-alone building is 6,969 square feet and is located at The Pointe at Tampa Palms on a 2.48-acre lot with over 100 parking spaces. The net operating income (NOI) is $226,946, with increases to $249,629 on September 1, 2027. The lease includes 10% increases every 5 years and two extension options of 5 years each. Landlord responsibilities are limited to the roof and structure. The property is less than 1 mile west of I-75 and is surrounded by big box retailers and large office complexes, just off I-75 at Bruce B Downs Blvd. This is a well-performing location with strong rent to sales.
Key Highlights
- NNN Sale Leaseback with a new 10‑year lease agreement
- Net Operating Income (NOI) of $226,946, increasing to $249,629 on 9/1/27
- 10% rent increases every 5 years with two 5‑year extension options
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,880
$2.0M
Cap Rate 7%
$1,447,057
$1.4M
Cap Rate 9%
$1,125,489
$1.1M
Market Conditions
NOI Build-Up for 6,969 SF
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.
Gross rent
$142.2K $20.40/SF
− Vacancy
−$7.1K −$1.02/SF
EGI
$135.1K $19.38/SF
− OpEx
−$33.8K −$4.85/SF
NOI
$101.3K $14.54/SF
Area
ZIP 33647
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,880
Cap Rate 7%
$1,447,057
Cap Rate 9%
$1,125,489
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,294 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$1.18M
$1.03M – $1.38M
NOI $82,541 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,115 @ 7.0% cap · market cap 3.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
260k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 24%
Superstores 18%
Home Improvements & Furnishings 14%
BJ's Wholesale Club
Superstores
46,476 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
35,333 visits/mo
0.3 miles
McDonald's
Dining
28,616 visits/mo
0.1 miles
BJ's Gas
Shops & Services
25,744 visits/mo
0.4 miles
Ross Dress for Less
Apparel
23,674 visits/mo
0.3 miles
Demographics for 33647, FL
69,457
Population
27,960
Households
2.5
Avg Household Size
36
Median Age
60%
College-Educated
96%
High-School Grad
32.4 sq mi
ZIP Area
2,144
Density / Sq Mi
$104,775
Median Household Income
$55,450
Median Earnings
$1,784
Median Rent
$437,600
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - NNN sale leaseback opportunity with a new 10-year lease.
Where is this restaurant located?
The property is located at 17050 Palm Pointe Dr Tampa, FL.
What is the asking price?
The asking price for this property is $3,491,000.
What are key features of this property?
This property features: NNN Sale Leaseback with a new 10‑year lease agreement; Net Operating Income (NOI) of $226,946, increasing to $249,629 on 9/1/27; 10% rent increases every 5 years with two 5‑year extension options
