5469 Us Highway 41Apollo Beach, FL 33572

Property Details for 5469 Us Highway 41

Year built

2006

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.02 AC

Property size (Sq ft)

6,928 SF

Zone code

PD

Property type

Retail properties

Property subtype

Strip malls

APN

U333119ZZZ00000176070B

APU

U333119ZZZ00000176070B

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,928 square foot auto shop and storefront, currently 100% occupied by Safelite AutoGlass. Located at 5469 N US Highway 41 in Apollo Beach, Florida (zip code 33572), this property sits on a 1.02-acre lot and boasts a new 10-year net lease (commencing May 15, 2024, expiring May 14, 2034) with a strong corporate guarantee from Safelite Fulfillment, Inc. The lease includes annual rent increases of 3%, ensuring consistent income growth. The asking price is $3,269,500, representing a 5.25% cap rate and a price per square foot of $471.93. The property features a Net Operating Income (NOI) of $171,650. The building underwent renovations in 2024 and was originally constructed in 2006. This prime location benefits from its proximity to major retailers, including Publix, Walmart, and numerous other national brands, and is situated within a rapidly expanding residential area with a projected 32% population increase within a 15-minute radius from 2023 to 2028. The lease includes two five-year renewal options, providing long-term stability and investment security. This property is ideally suited for a 1031 exchange. The property was previously a multi-tenant building with individual utilities and infrastructure.

• CAP approach

  CAP return

  Valuation

  6%

  $3,182,883

  6.5%

  $2,938,046

  7%

  $2,728,186

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,188,457

  Geo Method

  $3,188,457

• Alternative Use

  Use

  Valuation

  Residential

  $2,478,352

  Hospitality

  $2,270,157

  Educational

  $1,888,744

  Medical

  $1,953,701

  Retail

  $2,938,046

Location Insight

City

Apollo Beach

County

Hillsborough

State

Florida

Latitude

27.7473

Longitude

-82.4141

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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