NNN Pro Group is pleased to present the exclusive listing for a Mammoth Car Wash located at 2290 Fruitville Rd in Sarasota, Florida. The site consists of 3,500 total square feet of building space and sits on 1.0 acres of land. The site will be subject to a 20-year sale-leaseback with Mammoth Holdings, LLC. The lease will call for 1.50% annual rental escalations during the base term and throughout the four, five-year renewal option periods.
✓ 20-Year Triple-Net (NNN) Lease: At Closing the Tenant will Execute A Brand New 20-Year Absolute Triple-Net Lease | Lease will Have No Landlord Responsibilities
✓ Corporate Guarantee: The Lease will be Subject to a Corporate Guarantee by Mammoth Holdings, LLC (130+ Unit Operator)
✓ Accelerated Depreciation: The Properties Qualify for 15-Year Accelerated Depreciation as well as Bonus Depreciation
✓ Rental Increases: The Lease will Include 1.50% Annual Rental Increases
The NNN Pro Group is pleased to present the exclusive listing for the Truist Bank located at 5727 Gantt Road, Sarasota, FL 34233. The site will consist of roughly 3,131 rentable square feet of building space on estimated 1.02-acre parcel of land. The Truist Bank is subject to an absolute triple-net (NNN) lease that commenced on 12/10/2007. The initial annual rent will be $139,538 and is scheduled to increase by one and one-half percent (1.50%) annually and continuing through 1, 3-Year Option & 5, 5-Year Options.
✓ Absolute Triple-Net Lease (NNN)
✓ Approximately 6 Years Remaining
✓ One and One-Half (1.50%) Annual Rental Increases
✓ One (1), Three (3)-Year & Five (5), Five (5)-Year Renewal Options
