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    445 99Th Ave St. Petersburg, FL 33702

    For Sale
    $3,929,540

    High-yield, triple-net leased auto shop.

    Property size:
    11,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fee-simple, 11,220-square-foot retail property in St. Petersburg, Florida, boasting a 6.45% cap rate and a strong NOI of $253,455. The property, built in 2016, is situated on a 1.9-acre lot and features a single building housing three tenants, including a Monro Muffler Brake (dba Tire Choice) anchor tenant. The property enjoys 100% occupancy with a corporate guarantee from Monro, a publicly traded company (NYSE: MNRO). Each tenant benefits from a lease structure including 3% annual rent increases and a significant 10% increase every five years, ensuring consistent income growth. The property offers 60 parking spaces and excellent visibility and access due to its location near Gandy Boulevard and 4th Street North, with prominent pylon signage. The location benefits from a high daytime population, proximate to major employers such as Jabil, American Strategic Insurance, Home Shopping Network, and the Baypoint Commerce Center. This presents a compelling investment in a rapidly growing Florida market with no state income tax. The property's efficient layout and strong tenant mix make it an attractive and stable investment opportunity. The current leases include a new 10-year agreement with iConcierge Medspa, further solidifying the property's long-term financial performance. This is a rare opportunity to acquire a high-performing, triple-net leased retail property in a prime St. Petersburg location. The address is 445 99th Ave N, St. Petersburg, FL 33702.

    Property Features for 445 99Th Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    11,220 SF
    Lot Size
    82,764 SF

    Building Details

    Year Built
    2106
    Buildings
    1
    Units
    3

    HighLights

    • Corporate lease with Monro Muffler Brake, Inc. (NYSE: MNRO).
    • Monro's build‑to‑suit location, established in 2016, features a 10% rent increase in 2026.
    • New 10‑year lease with iConcierge Medspa.
    • Located in St. Petersburg, a rapidly growing city.
    • Prime service‑oriented retail location in a high‑density, high‑income area.
    • Fixed rent increases for all tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tire Choice Auto ... 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
    -82.639788296388
    Latitude
    27.862395772946

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    FAQs

    What type of property is this?
    Automotive property - High-yield, triple-net leased auto shop.
    Where is this automotive property located?
    The property is located at 445 99Th Ave St. Petersburg, FL.
    What is the asking price?
    The asking price for this property is $3,929,540.
    What are key features of this property?
    This property features: Corporate lease with Monro Muffler Brake, Inc. (NYSE: MNRO).; Monro's build-to-suit location, established in 2016, features a 10% rent increase in 2026.; New 10-year lease with iConcierge Medspa.
    Request Owner's contact information
    445 99Th Ave St. Petersburg, FL 33702
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    St. Petersburg, FL 33702
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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
    445 99Th Ave St. Petersburg, FL 33702
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