1273 Commercial Way Spring Hill, FL 34606-4533
- Auto shops
- 2,740 SF
- 0.86 lot acres
Current Use by Public Records
- Auto shops
Property Details for 1273 Commercial Way
- Year built
- 2022
- Lot size
- 0.86 lot acres
- Property size
- 2,740 SF
- Property type
- Auto shops
- APN
- R29-223-17-2749-00F0-0020
- APU
- R2922317274900F00020
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,686 square foot Take 5 Oil Change located at 1273 Commercial Way, Spring Hill, FL 34606. The property sits on a sizable 0.86-acre lot and benefits from a 15-year absolute triple-net (NNN) lease, commencing October 11, 2022, and expiring October 11, 2037. The lease includes four, 5-year renewal options with a 10% rent increase every five years, providing a built-in hedge against inflation. The current annual net operating income (NOI) is $139,000, resulting in a 5.50% capitalization rate. Built in 2022, this single-story building enjoys 100% occupancy. The property's strategic location in a high-traffic area, adjacent to US-19 and near major retailers like Aldi, Walmart, and Publix, ensures strong tenant performance. The robust local population growth, with an 11.5% increase within a 5-mile radius since 2010, further enhances the investment's long-term potential. The asking price is $2,527,000, translating to $1,498.81 per square foot. This offering presents a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant upside potential. The property qualifies for bonus depreciation
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,595,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,455,000
- 6.5%
- $2,230,000
- 7%
- $2,290,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,150,000
- Geo Method
- $2,535,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,745,000
- Retail
- $2,685,000
- Mixed-Use
- $2,250,000
- Hospitality
- $2,330,000
- Educational
- $2,430,000
- Residential Income
- $2,005,000
- Energy
- $2,455,000
- Income-Based Land
- $2,125,000
- Food Service
- $2,155,000
Location Insight
- Map
- Local Demand
- City
- Spring Hill
- County
- Hernando
- State
- Florida
- Longitude
- -82.6322
- Latitude
- 28.4513
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
