Freestanding Restaurant with NNN
For Sale
$3,491,000
Pending
17050 Palm Pointe Drive Tampa, Tampa, FL 33647
NNN sale-leaseback for a stand-alone Stonewood Grill & Tavern with long-term lease terms and substantial on-site parking.
Property Size6,969 SF
Lot Size2.48 Acres
Days on Market48
Property Features for 17050 Palm Pointe Drive Tampa
General Information
Standard status
Pending
Size
6,969 SF
Total Parking Spaces
100
Lot size
2.48 Acres
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
THE REAL ESTATE COLLECTION LLC
(407) 890-1354
Listed By:
Erica Sadelfeld · License #3121297
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 6
Changed: Jul 7
Last Checked: Aug 22 at 3:40AM
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 THE REAL ESTATE COLLECTION LLC
Investment Insights
Based on property information with market context.
This offering is for a stand-alone Stonewood Grill & Tavern restaurant structure with 6,969 square feet on 2.48 acres. The property is described as an NNN asset with landlord responsibilities limited to the roof and structure. The transaction is structured as a sale leaseback, with the tenant to execute a new 10-year lease agreement.
The lease includes scheduled rent increases, with NOI stated at $226,946 and increasing to $249,629 on 9/1/27. The agreement provides for 10% increases every five years, along with two extension options for five years each. The property is located at The Pointe at Tampa Palms at 17050 Palm Pointe Drive, Tampa, and is less than one mile west of I-75. The site is surrounded by big box retail and large office complexes, and includes 100+ parking spaces.
For tenants and operators, the configuration supports restaurant use in a freestanding building with ample parking. For buyers seeking a stabilized structure, the asset features defined NNN-style landlord responsibilities and a long-term lease framework with multiple built-in increase points and extension options.
The lease includes scheduled rent increases, with NOI stated at $226,946 and increasing to $249,629 on 9/1/27. The agreement provides for 10% increases every five years, along with two extension options for five years each. The property is located at The Pointe at Tampa Palms at 17050 Palm Pointe Drive, Tampa, and is less than one mile west of I-75. The site is surrounded by big box retail and large office complexes, and includes 100+ parking spaces.
For tenants and operators, the configuration supports restaurant use in a freestanding building with ample parking. For buyers seeking a stabilized structure, the asset features defined NNN-style landlord responsibilities and a long-term lease framework with multiple built-in increase points and extension options.
Key Highlights
- NNN sale‑leaseback: Stonewood Grill & Tavern with tenant to execute a new 10‑year lease
- Annual NOI shown as $226,946, increasing to $249,629 on 9/1/27 with 10% increases every 5 years
- 6,969 SF stand‑alone building on 2.48 acres at The Pointe at Tampa Palms
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
—
—
no second resolved use
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
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
260k
Monthly Visits Nearby
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?
NNN property - NNN sale-leaseback for a stand-alone Stonewood Grill & Tavern with long-term lease terms and substantial on-site parking.
Where is this nnn property located?
The property is located at 17050 Palm Pointe Drive Tampa 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: Stonewood Grill & Tavern with tenant to execute a new 10‑year lease; Annual NOI shown as $226,946, increasing to $249,629 on 9/1/27 with 10% increases every 5 years; 6,969 SF stand‑alone building on 2.48 acres at The Pointe at Tampa Palms
