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Views: 124 Updated: 09.12.24 Posted: 01.23.24 Status: Inactive 10.08.24

Summary

Price $2,975,000
Built/Renov 2022
Tenant Fortiline Waterworks
Cap Rate 6.00%
Lease Type NN+
Guarantor Corporate
Size/SF 10,137
Lease Start 01-11-2023
#Units 53
Price/SF $293.48
Expiration 02-28-2038
Tenant Type Industrial
NOI $178,500
R. Term 13.3
Ownership Fee Simple
Rent/SF $17.61
Increases 2.0%/1/yrs
Pop 5Mi 71,471
Lot/AC 4.38
Options 2/5yrs/1%
AHHI 5Mi $63,944

Lease Highlights

  • Fortiline Waterworks has 13+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Fortiline Waterworks is strategically located on SW 13th Street, adjacent to I-75, which traverses six different states and spans the length of the Florida Peninsula from the Miami area up the Gulf Coast through Tampa. It is also located near College Park Elementary and Pointe Grand Ocala Apartment Homes. In the vicinity, notable national tenants include Old Navy, Home Depot, Dick's Sporting...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Fortiline Waterworks is the second largest wholesale distributor of underground water, sewer and storm utility products in the United States. Fortiline Waterworks distributes more than 75,000 SKUs...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,276 29,432 73,763
2023 Total Population : 3,786 28,595 69,173
2023 Employed Civilian Pop : 1,735 11,236 28,463
2023 Total Businesses : 406 2,963 5,659
2023 Average Household Income : $ 63,238 $ 70,158 $ 83,199
2023 Total Consumer Spending : $ 86 M $ 697 M $ 2062 M
2023 Median Age : 34 39 44
2023 Total Households : 1,556 11,316 28,347
2023 Pop Age 25+: Bachelor's Degree : 356 3,455 9,548
2023 Average Home Value : $ 202,486 $ 235,678 $ 289,692
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW 37th Ave SW 7th St 2008 1,700 0.28 mi
Southwest 33rd Avenue SW 8th St 2022 4,500 0.33 mi
Southwest 33rd Avenue SW 7th St 2019 5,000 0.33 mi
SW 38th Ave Private Dr 2008 3,900 0.35 mi
SW 20th St SW 35th Ave 2008 11,600 0.44 mi
Southwest 38th Avenue SW 28th Pl 2022 5,800 0.49 mi
Southwest 38th Avenue SW 20th St 2021 5,800 0.49 mi
W Broadway St 2022 90,000 0.50 mi
SW 20th St Villas W 2005 14,500 0.69 mi
I- 75 2022 6,500 0.73 mi

Listing Broker

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