Address: 2100 South Pine Ave, Ocala, Florida, United States 34471
Type: Net Leased Auto Service
Cap Rate: 6.75%
Lease Type: Triple Net (NNN)
Annual Rent: $125,000
Net Operating Income: $125,000
Lease Term Remaining: 17+ Years
Rental Increases: 1.40% Annually
Options: One (1), Five (5) Year Option
Rentable Sq/Ft: 7,311 SF
Rent Sq/Ft: $17.1
Price Sq/Ft: $253
Lot Size: +/- 0.27
Marcus & Millichap is pleased to present the exclusive listing for a Maaco Collision Repair and Auto Paining located at 2100 South Pine Ave in Ocala, FL. The site consists of roughly 7,300 rentable square feet of building space on estimated .27-acre parcel of land. This Maaco is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 21st, 2017. The current annual rent is $125,000 and is scheduled to increase by 1.40% annually throughout the base term and in the one (1), five (5)-year renewal options.
This Maaco Collision Repair and Auto Painting property is situated on South Pine Avenue, which boasts an average daily traffic count exceeding 34,100 vehicles. South Pine Avenue intersects with SW 17th St, which brings an additional 35,000 vehicles into the immediate area on average daily. There are approximately 40,000 individuals residing within a three-mile radius of the property and nearly 90,000 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, hospitals, and hotels all within close proximity of this property. Major national tenants include: Publix, CVS Pharmacy, AutoZone, McDonald’s, IHOP, Popeye’s, Burger King, Dunkin’ Donuts, Subway, Longhorn Steakhouse, and many more. This subject property also benefits from being located less than one mile from Ocala Regional Medical Center, a 421-bed facility located in the heart of Ocala. Additionally, this Maaco property benefits from its close proximity to several academic institutions. Most notable is the College of Central Florida Ocala Campus, which is located less than three miles from the subject property and boasts a total enrollment exceeding 18,836 students.
Ocala rests in Marion County, part of the northern region of Florida. Known as “horse country,” Ocala offers visitors winding community pathways and the opportunity to explore miles of untainted nature. Ocala and the region’s freshwater streams, rolling hills and clean air remain unspoiled and have been used for Hollywood movies. Ocala is known for nearby Silver Springs, a national landmark and nature theme park on 350 acres, considered to be Florida’s “original attraction.” Ocala is one of only five cities allowed to use the title, “Horse Capital of the World,” based on annual revenue produced by the horse industry. 44,000 jobs are sustained by breeding, training, and related support of the industry, which generates over $2.2 billion in annual revenue. Postime Farms and Ocala serve as host to one of the largest horse shows in the country: H.I.T.S or “Horses in the Sun”, a Dressage/Jumper event lasting about two months. It generates some 6 to 7 million dollars for the local Marion County economy each year.
Broker of Record: Ryan Nee License: BK3154667