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Sprint & Tropical Smoothie Cafe, Tampa, FL

Sprint & Tropical Smoothie Cafe

Price $2,540,000
Cap Rate 6.50%
NOI $165,086
Lease Term Various
Lease Type NNN
Rental Increases Various
Year Built 2017
Building Size 4,201 SF
Lot Size 0.30 acres (13,068 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

100% LEASED TWO-TENANT RETAIL ASSET WITH GREAT REAL ESTATE FUNDAMENTALS
» Long-term leases with scheduled rental increases, providing a hedge against inflation
» Multi-tenant center allows for investment diversification
» Guaranteed leases for both tenants, with a very strong corporate guaranty from Sprint
» Florida is an income tax free state
» Minimal landlord obligations, ideal for an out-of-area investor
» Complimentary mix of “Amazon-proof” retailers

DENSE RETAIL CORRIDOR WITH EXTREMELY HIGH TRAFFIC COUNTS
» Excellent visibility and access to 109,588 vehicles per day at the signalized intersection of Memorial Highway and West Hillsborough Avenue
» Outparcel to Home Depot-anchored shopping center, which also features Walgreens, Dunkin’ Donuts, SunTrust Bank, and more
» Nearby retailers include Publix, Ross, Dollar Tree, Walgreens, Aldi, CVS, Harbor Freight Tools, and many others

CENTRAL LOCATION WITH STRONG CUSTOMER BASE IN SURROUNDING AREA
» Strong daytime population, with 119,984 daytime employees working within a five-mile radius of the property
» Surrounded by dense residential neighborhoods, with 156,410 residents living within five miles of the property, providing a large customer base
» Centrally located approximately five miles from Tampa International Airport, which serves about 20 million passengers each year and employs 7,000 people
» Close to several schools, including Berkeley Preparatory School, which has a total enrollment of 1,340 students



Property Description

The property is conveniently located immediately off of the signalized intersection of Memorial Highway and West Hillsborough Avenue, with excellent visibility and access to 109,588 vehicles per day. Located in a dense retail corridor, the property is outparcel to a Home Depot-anchored shopping center, which also features Walgreens, Dunkin’ Donuts, SunTrust Bank, and more. To the east of the property is a plaza tenanted by Ross, Dollar Tree, Lumber Liquidators, Chili’s, and Chase. Just north of the property is the Hillsborough Square Shopping Center, home to Aldi, Harbor Freight Tools, HSN Retail Outlet, and CVS. Other notable retailers in area include Publix, Badcock Home Furniture, Walmart Neighborhood Market, Family Dollar, McDonald’s, and T.J. Maxx, amongst many others.

The property is centrally located approximately five miles from Tampa International Airport, which serves about 20 million passengers each year and employs 7,000 people. Several schools are near the property, including Berkeley Preparatory School, which has a total enrollment of 1,340 students. The area has a strong daytime population, with 119,984 daytime employees working within a five-mile radius of the property. Additionally, the property is surrounded by dense residential neighborhoods, with 156,410 residents living within five miles of the property, providing a large customer base.

Contact Us About This Property

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