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Lowe's Home Improvement | Ground Lease 12901 N Dale Mabry Hwy 167,000 SF Retail Building Tampa, FL 33618 $33,852,731 CAD ($202.71 CAD/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently extended NNN ground lease with renewal options.
- Along North Dale Mabry Highway (67,500 VPD), and just a few feet from the signalized intersection with West Fletcher Avenue (19,400 VPD).
- Affluent demographics with a built-in customer base.
- Top 22% of Lowe's Home Improvement stores nationwide, and the top 27% throughout Florida (Placer.ai).
- Anchor to the 197,181-SF Mission Bell Shopping Center (Chipotle, Jimmy John's, Aspen Dental, PNC Bank, DryBar, Pure Barre, & Pei Wei Asian Kitchen).
- Approximately 8.4 miles from Downtown Tampa, MSA population of +3.36 million.
EXECUTIVE SUMMARY
CBRE is pleased to exclusively offer the 167,000-square-foot Lowe’s Home Improvement ground lease on 16.75 acres in Tampa, Florida (MSA Population: +3.36 million). Originally set to expire in 2025, Lowe’s agreed to extend the lease through 2043, and features ±18.2 years of term remaining with eight, 5-year renewal options, and 5% rent increases in each renewal option.
Located 8.4 miles from Downtown Tampa, Lowe’s offers excellent access and visibility along North Dale Mabry Highway (67,500 cars per day), feet from its signalized intersection with West Fletcher Avenue (19,400 cars per day), and South Village Drive. The site is roughly 3 miles west of the on-ramp to Interstate 275 (136,500 cars per day), an auxiliary Interstate Highway serving the Tampa Bay area.
Located 8.4 miles from Downtown Tampa, Lowe’s offers excellent access and visibility along North Dale Mabry Highway (67,500 cars per day), feet from its signalized intersection with West Fletcher Avenue (19,400 cars per day), and South Village Drive. The site is roughly 3 miles west of the on-ramp to Interstate 275 (136,500 cars per day), an auxiliary Interstate Highway serving the Tampa Bay area.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
167,000 SF
Building Class
B
Year Built
2005
Price
$33,852,731 CAD
Price Per SF
$202.71 CAD
Cap Rate
5.35%
NOI
$1,809,846 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.23
Lot Size
16.75 AC
Parking
543 Spaces (3.25 Spaces per 1,000 SF Leased)
Frontage
1,263’ on N DALE MABRY Hwy
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | U-09-28-18-97X-000000-00001.0 | Improvements Assessment | $2,290,173 CAD |
| Land Assessment | $18,443,037 CAD | Total Assessment | $20,733,210 CAD |
PROPERTY TAXES
Parcel Number
U-09-28-18-97X-000000-00001.0
Land Assessment
$18,443,037 CAD
Improvements Assessment
$2,290,173 CAD
Total Assessment
$20,733,210 CAD
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Mark Drazek -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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Lowe's Home Improvement | Ground Lease | 12901 N Dale Mabry Hwy
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