The Tire Center | Florida
LONG-TERM ABSOLUTE NNN LEASE
The Subject Property is operating under a long-term 25 year lease with over 15 years remaining on the primary term. Additionally, this property is encumbered by a true Absolute NNN lease with zero obligations for
PRIMARY TERM RENTAL INCREASES
There are scheduled 10% rental increases every five years throughout the lease term, including all option periods.
STRONG CORPORATE GUARANTY FROM MONRO, INC
This property is operating as a Tire Choice, and is corporately guaranteed by Monro, Inc. Monro is traded on the Nasdaq under ticker symbol MNRO; operates over 1,200 locations and is showing year-over-year growth in sales, employees, net worth and several other financial metrics. As of March 28, 2020, Monro had Annual Sales of $1.26 Billion and a Net Worth of $734.4 Million.
OUTSTANDING MARKET FUNDAMENTALS AND INCOME-TAX FREE STATE
Venice is a city in the Sarasota MSA of Florida. Subject Property is located in the middle of a sub-market that has a very low retail vacancy of 4.6% Additionally, this property benefits from great visibility on Tamiami Trail where there are over 45,000 vehicles per day; over 20,000 households within 3-miles and 85,000 people living within 5-miles.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.