x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Winn-Dixie Ground Lease, St. Petersburg, FL

Winn-Dixie Ground Lease

St Petersburg, FL

Price $11,099,000
Cap Rate 4.75%
NOI $527,172
Lease Term 10 Years
Lease Type NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases Fixed Rental Increases Every Five (5) Years
Year Built 1993
Building Size 43,732 SF
Lot Size 3.37 Acres (146,833 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NNN CORPORATE GUARANTEED GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» 10-year NNN ground lease with one (1) five (5) year option, creating a stable, long-term investment
» Lease guaranteed by Winn-Dixie, Inc.
» Fixed rental increases every five years, providing a hedge against inflation
» NNN lease requires zero landlord management, ideal for an out-of-area investor
» Winn-Dixie operates nearly 500 locations throughout the Southeastern United States

LOCATED IN DENSELY POPULATED, AFFLUENT, AND GROWING RETAIL CORRIDOR
» High-traffic location on 9th Street North (17,100 AADT), significantly increasing traffic to the site
» Beneficial proximity to highly trafficked St. Petersburg thoroughfares, including State Highway 92 and Interstate 275 (combined 213,500 AADT)
» Population of 251,813 within a five-mile radius of the site, providing an extremely large customer base for the property
» Average annual household income of $93,329 within one mile of the site

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including McDonald’s, Taco Bell, CVS, Regions Bank, Chipotle, Exxon, and many more
» Ideally located within two miles of Downtown St. Petersburg
» Three miles from the University of South Florida – St Petersburg (4,448 students)
» Four miles from Tampa Bay ($6.9 billion generated in annual tourism)



Property Description

The property is conveniently located on 9th Street North (17,100 AADT), a location that is strategically placed near highly trafficked St. Petersburg thoroughfares, including State Highway 92 and Interstate 275 (combined 213,500 AADT). The site is also located in a densely populated area, with a population of 251,813 within a five-mile radius of the site. The property is set within an affluent area as well, with an average annual household income of $93,329 within one mile of the site.

Visibility to the property is increased by the site’s centralized location near large employers, retailers, and community hubs. The location is surrounded by a strong mix of local and national retailers, including McDonald’s, Taco Bell, CVS, Regions Bank, Chipotle, Exxon, and many more. The site is ideally located within two miles of downtown St Petersburg. The property also resides three miles from the University of South Florida – St Petersburg, a major South Florida community hub with 4,448 students, and two miles from St Anthony’s Hospital, a private hospital with 393 beds. The location features a beneficial proximity to Tampa Bay, which generates $6.9 billion in annual revenue.

Contact Us About This Property

Vince & Ryan & Mike & Scott Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link