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    5344 16Th St St. Petersburg, FL 33703

    For Sale
    $2,950,000

    St. Petersburg, FL Auto Shop NNN Lease

    Property size:
    6,316 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 6,316 square foot Tire Kingdom located at 5344 16th St N, St. Petersburg, FL 33703, Pinellas County. The property, built in 1962 on a 0.49-acre lot, boasts a strong Net Lease (NNN) structure with a credit-rated tenant. The current lease, expiring November 30, 2029, offers a remaining term of five years with a 10% rent increase at each option period. The current NOI is $70,922, with a pro-forma NOI of $78,014, reflecting a current cap rate of 2.40% and a pro-forma cap rate of 2.64%. The asking price is $2,950,000, translating to $467.07 per square foot and $83.16 per square foot for land value. The property has been 100% occupied since January 1, 1989, and benefits from the financial strength of Mavis Discount Tire, the guarantor of the lease. This presents a compelling opportunity for passive income generation with significant upside potential for future rent increases. The property's location in St. Petersburg, Florida, offers excellent visibility and access to a thriving market. This is a single-tenant, retail auto shop investment with a proven track record of success.

    Property Features for 5344 16Th St

    General Information

    Property type
    Automotive properties
    Square Feet
    6,316 SF
    Lot Size
    21,344 SF

    Building Details

    Year Built
    1962

    HighLights

    • 6,316 SF Tire Kingdom on 0.49‑acre lot in St. Petersburg, FL.
    • Net‑leased to credit‑rated tenant (Mavis Discount Tire) with strong lease terms.
    • Current NOI $70,922, Pro‑forma NOI $78,014; Cap rate 2.40% (current), 2.64% (pro‑forma).
    • Asking price: $2,950,000 ($467.07/SF, $83.16/land SF).
    • Lease expires November 30, 2029, with 10% rent increases at each option period.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    On Call Plumbers Plumber Tire Kingdom Tire Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St. Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.655267406694
    Latitude
    27.821115988227

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    FAQs

    What type of property is this?
    Automotive property - St. Petersburg, FL Auto Shop NNN Lease
    Where is this automotive property located?
    The property is located at 5344 16Th St St. Petersburg, FL.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: 6,316 SF Tire Kingdom on 0.49-acre lot in St. Petersburg, FL.; Net-leased to credit-rated tenant (Mavis Discount Tire) with strong lease terms.; Current NOI $70,922, Pro-forma NOI $78,014; Cap rate 2.40% (current), 2.64% (pro-forma).
    (929) 228-9281
    Request Owner's contact information
    5344 16Th St St. Petersburg, FL 33703
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    St. Petersburg, FL 33703
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5344 16Th St St. Petersburg, FL 33703
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