1429 10TH ST E Palmetto, FL 34221
8,400 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $190
Subdivision Acreage
MLS Listing ID A4694210
HOA Y/N No
Year Built 1987
Annual Tax Amount $21,809
Lot Size 0.780 Acres
Acres 0.78
Lot Dimensions 169x201
Property Sub-Type Business
Source Stellar MLS
Property Description
Strategically positioned along a major commercial corridor in Palmetto, Florida, this established automotive service center benefits from excellent visibility, strong traffic counts, and a proven operating history serving the surrounding residential and commercial market.
The property is offered with a Triple Net (NNN) lease structure, providing investors with passive income and limited landlord responsibilities. Current annual NOI is approximately $95,166 with approximately four years remaining on the existing lease term plus two (2) five-year renewal options.
Palmetto continues to experience significant growth driven by its proximity to Sarasota, St. Petersburg, Tampa, Lakewood Ranch, and major employment centers. Continued residential and commercial development supports long-term demand and strengthens the property's investment fundamentals.
Investment highlights include a nationally recognized tenant, predictable cash flow, strong visibility, essential-service retail use, long-term occupancy history, future lease extension options, and location within one of Florida's fastest-growing markets. An excellent opportunity for investors seeking stable income backed by a well-established automotive retail location.
Annual NOI: Approx. $95,166
Lease Type: Triple Net (NNN)
Tenant: Tire Kingdom / Mavis Tire Express Services Corp.
Lease Term: Approx. 4 Years Remaining + Two 5-Year Options
Annual NOI approximately $95,166. Approximately four years remaining on current lease term plus two (2) five-year renewal options. National tenant with established operating history. Excellent visibility, strong traffic counts, and strategic location within the Tampa Bay/Sarasota growth corridor.
Location
State FL
County Manatee
Community Acreage
Area 34221 - Palmetto/Rubonia
Zoning C1A
Direction E
Interior
Cooling Central Air
Exterior
Utilities Available Public, Water Connected
Building
Lot Description City Limits, Landscaped, Near Public Transit, Street Lights, Paved
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Others
Ownership Fee Simple
Acceptable Financing Cash, Commercial Financing
Listing Terms Cash, Commercial Financing
Special Listing Condition None
