445 99th N Ave Saint Petersburg, FL 33702-2220

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.