Brooksville, FL - Tire Kingdom

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding Tire Kingdom investment property located in Brooksville, Florida. The tenant, TBC Retail Group, Inc., has approximately 8 lease years remaining with 4 (5-year) option periods to extend. The lease features a 10% rental increase in May 2027 and a 10% rental increase at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed and is NNN with minimal landlord responsibilities, making this an ideal investment opportunity for a passive investor. TBC Corporation is one of the largest marketers of tires for automotive replacement in North America, operating over 3,200 franchised and company-operated tire and automotive service centers. With a presence in more than 25 countries and over 10,000 employees, TBC Corporation’s scale and reach make it a significant player in the global automotive aftermarket industry.

Tire Kingdom is strategically located along Cortez Boulevard, a primary retail and commuter thoroughfare, with an average of over 44,000 vehicles passing daily.
The property benefits from being located near Coastal Landing, a dominant power center that draws over 5.7 million visitors annually (per Placer.ai). Coastal Landing features a strong lineup of national retailers, including Michaels, Marshalls, Ulta, Petco, Kay Jewelers, and Sprouts. The investment is in a dense retail corridor with national/credit tenants such as Walmart Supercenter (3.5M visitors – Placer.ai), Sam’s Club (2.2M visitors – Placer.ai), Ross Dress for Less, Hobby Lobby, and Bealls. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Additionally, the property is located half a mile away from the 350-bed HCA Florida Oak Hill Hospital, a major employer in the area. The subject property benefits from excellent visibility and access with significant street frontage and a large pylon sign. The 5-mile trade area is supported by over 89,700 residents and 22,800 daytime employees, with average household incomes of $81,137.