Credit-Tenant NNN Industrial Outdoor Storage 5305 Garden Ln 2,004 SF Industrial Building Tampa, FL 33610 $2,282,858 CAD ($1,139.15 CAD/SF) 7.89% Cap Rate

5305 Garden Lane is a fully tenanted Industrial Outdoor Storage asset generating clean current cash flow under a triple-net commercial lease with AutoBase LLC, operating under the VMS Solutions brand under a "Road Rangers" contract with FDOT. The primary lease runs through February 2028 with an additional one-year tenant renewal option, structured triple-net with real estate taxes flowing through to the tenant at 100%. Supplemental income is generated through a long-term billboard ground lease with Clear Channel Outdoor featuring guaranteed annual base rent plus a percentage of net advertising revenues — an inflation-protected income stream with auto-renewal mechanics that extend the lease term effectively into perpetuity. Lease terms, rent structure, and contractual provisions for both tenants are available to qualified buyers under NDA.

Seller will grant qualified buyers access to AutoBase during the due diligence period to potentially negotiate an extension of the existing lease prior to closing. This is an uncommon and meaningful concession. A successful extension converts the asset from a short-tail net lease into a long-WALT credit-tenant IOS investment, with material cap rate compression and value enhancement that accrues directly to the buyer at acquisition. Pre-closing tenant engagement, combined with the property's strategic I-4 location and zoning flexibility, gives the right buyer a clear multi-year value creation roadmap from day one.

AutoBase LLC (operating under the VMS Solutions brand) is a national fleet management and vehicle operations company with a multi-decade operating history serving utility providers, telecommunications operators, municipal governments, and transportation authorities across the United States. AutoBase is part of the AutoBase Holdings LLC corporate structure following a 2025 ownership transaction. The tenant occupies the site as a regional fleet storage, dispatch, and crew staging facility — a built-out operational footprint with significant relocation friction and high renewal probability.

Clear Channel Outdoor is one of the largest outdoor advertising operators in the United States, with billboard structures positioned to capture I-4 corridor traffic. The lease structure provides a guaranteed annual floor plus percentage participation in net billboard revenues, allowing the income to grow with billboard advertising market rates over time. The lease's 30-year initial term and auto-renewal provisions make this a long-term, effectively perpetual income stream.

The property is zoned CG (Commercial General) — among the most permissive commercial zoning categories in unincorporated Hillsborough County. CG permits commercial, light industrial, outdoor fleet storage, truck parking, contractor yard, retail, and a broad range of permitted-by-right uses. This zoning flexibility supports current tenancy without restriction and preserves multiple future-use pathways for buyers contemplating eventual repositioning, expanded operations, or redevelopment.

Located directly on the Interstate 4 corridor with frontage along US Highway 92, approximately 6 miles east of downtown Tampa and immediately east of the Florida State Fairgrounds and the Seminole Hard Rock Hotel & Casino. The I-4 corridor is the Southeast's primary east-west logistics spine and one of the most supply-constrained IOS submarkets in the country. Tampa IOS land prices increased approximately 28% from 2023 to 2025, with infill sites consistently trading between $600,000 and over $1,000,000 per acre.

A rare convergence of income, optionality, and location. Income today from two creditworthy national tenants. Optionality through seller-facilitated lease extension access. Premier I-4 location in a submarket where comparable infill IOS land does not come available. Comprehensive offering package, lease abstracts, and detailed pro forma available to qualified buyers under NDA.
All Reasonable Offers and Terms Considered. Brokers Protected.