Apollo Beach - First Watch & GoodVets

6598 N US Highway 41, Apollo Beach, FL

   SOLD!   

$5,122,000

Price

6.15%

Cap Rate

$315,000

NOI

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Street
Map
Overview
Cap Rate
6.15%
NOI
$315,000
Building Size
7,000 sqft
Lot Area
1.91 acres
Occupancy
100%
Year Built
2023
Description

• GoodVets and First Watch will be operating under corporate signed leases
• Both tenants have a 10 year term with 2 (5-Year) options to extend
• GoodVets has 3% annual increases throughout the initial term and each option period
• First Watch has a 10% increase in LY 6 and at the beginning of each option

• The subject property neighbors Paradise Shoppes of Apollo Beach, a Publix-anchored shopping center
• Surrounding national credit tenants include: UPS, Dunkin’, Bank of America,
7- Eleven, Starbucks, Anytime Fitness, CVS and many more
• Strong tenant synergy promotes crossover shopping to the subject property
• The asset is located at the hard corner intersection of US Highway 41
(39,500 VPD) and Elsberry Road
• US Highway 45 runs parallel and provides access to Interstate 75
(120,500 VPD), helping to drive consumers toward Apollo Beach Shoppes
• The asset has excellent visibility and multiple points of ingress/egress
• More than 128,700 residents occupy the five mile trade area
• The average household income exceeds $131,000 within 1-mile radius of the subject property
• The 1-mile trade area anticipates a 3.24% population increase by the year 2028

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Listing ID: a288X000002m1uWQAQ
Location
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