For Sale
$3,368,000

6305 Hwy 17-92Davenport, FL 33896

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 7,453-square-foot O'Reilly Auto Parts store in Davenport, Florida. Built in 2023, the property boasts premium construction (no metal sides) and benefits from a 14.5-year remaining lease term (initial 15-year lease commencing April 1, 2024, and expiring March 31, 2039) with a credit-rated, corporate-guaranteed tenant. The NNN lease structure minimizes landlord responsibilities, while the attractive lease includes four, five-year renewal options, each with a 6% rent increase starting in year 11. The property enjoys a 5.65% cap rate and a current NOI of $190,301. Situated on a pad site adjacent to a Publix-anchored center attracting over 1.5 million annual visitors, this location benefits from high daily traffic counts exceeding 22,000 vehicles and excellent visibility along Hwy 17-92. The property also features a 20-year transferable roof warranty. Located within the Orlando-Kissimmee-Sanford MSA, Davenport experiences significant population growth (projected 25.23% in five years), offering a strong market for this investment-grade tenant (O'Reilly Auto Parts, S&P rated BBB/Moody's rated BAA1). This is a rare opportunity to acquire a high-performing asset with a long-term lease and significant upside potential. Asking price: $3,368,000.

Highlights

  • Brand new 2023 construction O'Reilly Auto Parts building.
  • 14.5-year lease term remaining.
  • NNN lease with minimal landlord responsibilities and a 20-year roof warranty.
  • Attractive lease with 6% rent increases starting year 11 and four 5-year renewal options with similar increases.
  • Corporate guarantee from O'Reilly Automotive, Inc. (S&P: BBB).
  • Pad site in a Publix-anchored center with over 1.5 million annual visitors.

Property Details for 6305 Hwy 17-92

Property type
Retail properties, Grocery and convenience stores
Square Feet
7,453 SF
Year Built
2023
Buildings
1
Stories
1

Location Insight

City
Davenport
County
Polk
State
Florida
Latitude
28.240497
Longitude
-81.557235
6305 Hwy 17-92, Davenport, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
6305 Hwy 17-92
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message