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Investment Highlights

  • Five year absolute NNN Ground Lease
  • Two - 5 year options
  • 3.5 years remaining on current lease
  • Zero landlord responsibility
  • 10% increases every 5 years
  • 33+ years operating history

Executive Summary

Excellently located in the North Tampa/University of South Florida market, this 800 ± SF Checkers restaurant with a double drive-thru sits at the intersection of Waters Avenue and U.S. Route 41, offering visibility to more than 32,000 cars each day. The site is surrounded by well-known attractions including Busch Gardens, Adventure Island, and the Museum of Science and Industry, with quick access to I-275.
Location Description
This property is strategically located in Tampa, Florida, just off the intersection of Waters Avenue and U.S. Highway 41. This highly visible corridor sees more than 30,000 vehicles daily, ensuring consistent exposure and easy accessibility. The property sits in a thriving North Tampa market that combines established neighborhoods with strong retail and commercial activity.
Only minutes from the University of South Florida, Busch Gardens, Adventure Island, and the Museum of Science and Industry, the site benefits from steady traffic generated by both local residents and regional visitors. Quick access to I-275 and I-4 further enhances connectivity, linking the location to Downtown Tampa, the Westshore business district, and the greater Tampa Bay region. Surrounding businesses include national retailers, restaurants, service providers, and community amenities.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
800 SF
Building Class
B
Year Built
1993
Price
$1,635,528 CAD
Price Per SF
$2,044.41 CAD
Cap Rate
5%
NOI
$81,776 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.44 AC
Zoning
CI - Commercial Intensive
Parking
20 Spaces (25 Spaces per 1,000 SF Leased)

Amenities

  • Dedicated Turn Lane
  • Pylon Sign
  • Signalized Intersection
  • Drive Thru

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Accommodation and Food Services
  • -
  • -
  • -

Checkers Drive-In Restaurants began in 1986 when founder Jim Mattei opened the first location in Mobile, Alabama. The company quickly grew by pioneering double drive-thru service for fast food. In 1991, Checkers merged with Rally's Hamburgers, another drive-thru chain, expanding their menu offerings. The brand operates through a franchise model, with numerous locations across the United States. Their business strategy focuses on efficient service and quick turnaround times in the fast-food burger market.

Tenant Industry SF Occupied Rent/SF Lease End
Accommodation and Food Services - - -
Walk Score®
Very Walkable (83)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Planet Fitness
Key Food
Florida Avenue Walk-In Clinic
Rent-A-Center
Walmart Neighborhood Market
CrossFit

Property Taxes

Property Taxes

Parcel Number
A-24-28-18-3EN-000004-00016.0
Land Assessment
$341,389 CAD
Improvements Assessment
$200,516 CAD
Total Assessment
$541,905 CAD
  • Listing ID: 37929171

  • Date on Market: 2025-10-03

  • Last Updated:

  • Address: 107 W Waters Ave, Tampa, FL 33604

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