5344 16Th St N St Petersburg, FL 33703

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.