1273 Commercial WaySpring Hill, FL 34606

Property Details for 1273 Commercial Way

Year built

2022

Lot size

0.86 AC

Property size (Sq ft)

2,740 SF

Property type

Retail properties

Property subtype

Auto shops

APN

R29-223-17-2749-00F0-0020

APU

R2922317274900F00020

Description

This exceptional investment opportunity presents a fee-simple ownership of a 1,686 square foot Take 5 Oil Change located at 1273 Commercial Way, Spring Hill, FL 34606. The property sits on a sizable 0.86-acre lot and benefits from a 15-year absolute triple-net (NNN) lease, commencing October 11, 2022, and expiring October 11, 2037. The lease includes four, 5-year renewal options with a 10% rent increase every five years, providing a built-in hedge against inflation. The current annual net operating income (NOI) is $139,000, resulting in a 5.50% capitalization rate. Built in 2022, this single-story building enjoys 100% occupancy. The property's strategic location in a high-traffic area, adjacent to US-19 and near major retailers like Aldi, Walmart, and Publix, ensures strong tenant performance. The robust local population growth, with an 11.5% increase within a 5-mile radius since 2010, further enhances the investment's long-term potential. The asking price is $2,527,000, translating to $1,498.81 per square foot. This offering presents a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant upside potential. The property qualifies for bonus depreciation

Location Insight

City

Spring Hill

County

Hernando

State

Florida

Latitude

28.4513

Longitude

-82.6322

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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