Various Cities, FL
Portfolio consisting of properties throughout Central and North Florida
-NNN Lease with Zero Landlord responsibilities-Recently exercised Five Year option (approximately 4+ years remaining)-High traffic intersection 57,500 +/- AADT (SR 54) & 21,569 AADT (Collier Pkwy)-Third largest quick service restaurant company in America-Newer store prototype and branding-Operated by strong multi-unit franchisee (28 stores)-Located in strong/growing retail trade area-Above average HH Income levels ($84,237) within a 3 mile radius
Franklin Street Real Estate Services is pleased to present this Arby's franchised NNN Lease located Lutz, Florida. This Triple Net Lease is located in Pasco County and its 475,502 residents contribute to the rapidly growing 2.7 million residents of the Tampa Bay Area.
Land O' Lakes, FL
Franklin Street Real Estate Services is pleased to present this Corporate Guaranteed Tuffy Auto Service Center, which is located in Land O Lakes, FL. This NNN Lease is located in Pasco County and its 464,697 residents contributes to the rapidly growing 2.7 million residents of the Tampa Bay Area.
Tuffy Auto Center has 15 years remaining on its initial NNN lease which commenced in May of 2009. The lease offers 8.8 percent rental increases every five years as well as in each of the two, five year options to renew. Under the lease, the tenant is responsible for all maintenance and expenses.
Forest Park, GA
Norstar Wingate is made up of 3 contiguous properties comprising 24 buildings that were built in 1964 and 1967 on a 9.74 acre site. Norstare Wingate is an excellent value-add opportunity with close proximity to the proposed redevelopment of Fort Gillem which is expected to bring 3,000 more jobs to the area over the short term.
Norstar Wingate is comprised of 3 contiguous properties making up 211 units of the portfolio. The leasing office is currently operated out of one unit, however, with minimal cleanup, one could reopen the previous leasing office which is located in the middle of the community. Property features include brick exteriors with pitched roofs and plenty of green space.
The Clermont Hotel is a historic Atlanta landmark building.
The subject property is a 122-room hotel with 69,312 SF that sits on 0.90 acres located at 789 Ponce de Leon Avenue in Atlanta, Fulton County, Georgia. The structure was built in 1940 and has had various renovations over the years. The subject has frontage on Ponce de Leon Avenue with secondary road frontage along Bonaventure Avenue NE. The ground floor is occupied by an adult lounge called The Clermont Lounge.
Cape Canaveral, FL
Franklin Street Real Estate Services is pleased to present this newly constructed, freestanding Dollar General located on Highway A1A, the main thoroughfare through Cape Canaveral, Florida. The property is located two miles from Port Canaveral which brings in over three million passengers annually with its cruise industry. The location will benefit from the dense residential neighborhoods surrounding the property and the nearby schools and churches that will generate traffic. The property exterior is constructed with block and stucco.
Dollar General has signed a new 15-year NNN lease that will commence upon completion which is scheduled for Summer 2014. Dollar General will be responsible for all maintenance, repairs, taxes and insurance for the premises. This investment provides an investor the opportunity to acquire a passive investment with an investment grade tenant that is recession proof.
Pinellas Park, FL
• 95% + Occupied Property that has Received Substantial Recent Improvements • Walking Distance to Significant Retail and Dining Including Home Depot, Target, and Starbucks • Excellent Central Pinellas County Location Providing Easy Access to I-275 and US-19, Major North/South and East/West Thoroughfares • 100% Spacious, Highly Functional Two Bedroom Floor Plans • New Landscaping, Swimming Pool Area Improvements, and 100% Full Unit Turns Completed • Highly Desirable Concrete Block Construction and Pitched Roofs • On Site Laundry Facility and Ample Parking
Sawgrass is a 34-unit apartment community located in Pinellas Park, Florida. The property consists of two 2-story buildings that sit on two acres of land with frontage on 76th and 78th Avenue. Each of the buildings were built in 1984 and are concrete block with stucco walls and a pitched roof. The unit mix at Sawgrass is 100% two bedroom-one bathroom floor plans, each 940 square feet. Community amenities include on-site laundry facilities and a swimming pool area. The property has undergone substantial improvements since the beginning of 2012 including landscape renovations, swimming pool/area improvements, full unit upgrades, and new appliances. Sawgrass presents an opportunity for an investor to purchase a stable, clean asset in Pinellas County, the most densely populated county in the state of Florida. Current ownership has completed extensive renovations to both the interiors and exterior of the community, making Sawgrass a desirable place to live. As a result, occupancy has remained relatively strong but has room for improvement.
Dean Manor Apartments consists of 13 units with separate patios and driveways built in 2007 and 2008. The units are individually metered for all utilities which helps maintain very low operational costs.
Dean Manor Apartments consists of 13 units with seperate patios and driveways built in 2007 and 2008. The units are individually metered for all utilities which helps maintain very low operational costs. All of the units are large Two and Three bedroom 2 Bath apartments which typically experience less turnover than smaller apartments. The property presents an excellent opportunity for an investor to realize double digit leveraged returns based on current cash flow while continuing to see increased demand as local supply is absorbed. Because 10 of the units are individually parceled, the property also presents the future opportunity for upside through individual sales.
8,161 SF Former Dollar General Bldg. 2.65+/- Acres / 115,700 SF. 200+/- Feet of Frontage of U.S. Hwy 301.
19,900+/- Cars per Day on U.S. Hwy 301. Less than 1/4 Mile from S.R. 24 - Primary NE Corridor to Gainesville. 1.34+/- Acres of the 2.65+/- Acres Available for Expansion. Zoned for Commercial Development.
9.69% Cap Rate on 2013 Actuals | Consistently Stable Property Which is Currently 92% Occupied | Within a Few Miles of Many Employers Including University of South Florida & the Veterans Affairs Hospital | Upside Potential Via Rent Growth and Economic Loss Reduction | Desirable Concrete Block Construction
Sandanay & Stonehenge are two apartment communities, operated as one property, located adjacent to one another in North Tampa near the University of South Florida. Sandanay, the larger of the two properties, consists of four buildings sitting on 1.81 acres of land. The buildings were constructed between 1967 and 1970 and each is concrete block with a flat roof. The unit mix at Sandanay includes 17 1Bdr-1Bath apartments (750 Sq Ft) and 43 2Bdr-1Bath apartments (1,000 Sq Ft) for a total of 55,750 rentable square feet. Community amenities include a swimming pool area, leasing office, barbecue grills, playground area, and laundry facilities. Stonehenge consists of eight buildings that sit on 1.77 acres of land. These buildings were constructed between 1967-1969 and each is concrete block with a pitched roof. The unit mix at Stonehenge includes 40 1Bdr- 1Bath apartments (600 Sq Ft) for a total of 24,000 square feet.
• Diverse Mix of Spacious Floor Plans• All Units Recently Renovated• Highly Desirable Concrete Block Construction• Excellent Amenities Including a Putting Green, 3 Swimming Pools, and a 24-Hour Fitness Center• Within Miles of the White Sandy Beaches of the Gulf of Mexico• Electronic Gated Entrance
The Park at Barrington Place is located in Holiday, Florida, Pasco County. It is just North of Pinellas County with ingress and egress directly on U.S. 19. This property was built in 1972 on 7.58 acres of land. The buildings are constructed of concrete block with stucco exterior walls. All the roofs are flat and in good condition, per the seller. The unit mix consists of 40-1Bdr/1Bath apartments at 700 square feet, 36-1Bdr/1Bath apartments at 821 square feet, 48-2Bdr/1Bath units at 860 square feet, 80- 2Bdr/1Bath units at 1000 square feet, and 40-2Bdr/2Bath apartments at 1020 square feet. The units all have central HVAC systems, and a majority of them have private patio/balconies. In 2006/2007 all units had a major renovation including, new clubhouse, designer tiled floors, walk-in closets, upgraded counter tops, chair rails, upgraded fans and European light fixtures. Community amenities include a fitness center, three sparkling pools, gates, fencing, designer clubhouse, laundry facility, dog park, putting green and a children's playground. In addition, the property is guarded by a fully-functional electronic gate. The grounds are in excellent condition with mature landscaping. Also each building has a central elevator with trash chute which is excellent for seniors.
Treasure Island, FL
• Diverse Unit Mix of Studio, One, and Two Bedroom Apartments
• Outstanding Location Within Walking Distance of Treasure Island Beach
• Numerous Restaurants and Entertainment Venues on Treasure Island and in St. Petersburg
• Value-Add Opportunity Through Property Rehabilitation Due to Strong Submarket Rents
Sunflower is a vacant, multifamily community located in Treasure Island, Florida. The single building, 10-unit property was constructed in 1959. It is a two story building built with concrete block, with stucco exterior walls, situating on .22 acres of land. The roof structure is flat and features composition shingle covering. The unit mix consists of 4-Efficiency apartments at 250 square feet, 4-1Bdr/1Bath apartments at 450 square feet, and 2-2Bdr/1Bath apartments at 650 square feet. Currently, the units are cooled with wall air conditioning units. The vacant condition of the property provides a value-add opportunity to investors through rehabilitation, in a highly desirable Gulf Coast location with strong submarket rents. The property is located within a quarter mile, or a 5 minute walk of the beautiful beaches of the Gulf of Mexico, as well as numerous beachside restaurants. Downtown St. Petersburg is also only a 9 mile drive to the east and features a number of major employers as well as a number of dining, entertainment, and nightlife destinations. St. Petersburg is also home to Major League Baseball's Tampa Bay Rays. The location in Pinellas County provides excellent demographics, since it is the most densely populated county in the state of Florida.
Winter Springs, FL
Space Available: 11,200 SF Free-Standing BuildingLocated along the main east/west corridor, E. SR 434, at the signalized intersection of CR 419 in Winter Springs, a bedroom community to Orlando.Area retailers include Publix, Subway, Tijuana Flats, Winn-Dixie, Save-a-Lot, Family Dollar, Big Lots, Amscot, and more.
Space Available: 11,200 SF Free-Standing Building
OFFERS DUE: THURSDAY MAY 1, 2014Two Lender Owned, 100% Vacant Properties Creating an Outstanding Value-Add OpportunityExcellent In-Fill Location Near Major Retailers, Employment Hubs, and Highly Rated Orange County SchoolsSubject Properties Located Less Than a Half Mile Away from Each Other Allowing for Management EfficiencyHighly Desirable Orlando Submarket Currently Experiencing Strong Rent Growth & Improving Operating ConditionsEasy Accessibility to Downtown Orlando Via Colonial Drive, a Major East-West Thoroughfare in OrlandoClose Proximity to Orlando International Airport, Walt Disney World, Universal Studios, Sea World, Wet 'n Wild Orlando, and Much More
The Abby Apartment Complex was built in 1972 and the second phase, known as the Old Cheney, was built two years later in 1974. Both complexes were built of solid concrete block construction with flat roofs. The roofs of the Abby were replaced in 2005, and nine of the roofs for the Old Cheney have recently been replaced. The two subject properties consist of thirteen buildings combined and a total of 70 apartment units. 24 of the units are one bedrooms at 600 square feet (in the Abby), 45 of the units are one bedrooms at 650 square feet (in the Old Cheney), and 1 of the units is a two bedroom at 900 square feet (in the Old Cheney). These two blue collar rental properties provide an excellent opportunity for an investor to acquire communities in prime in-fill locations. With the high density of business and retail in the area, these communities can attract a strong tenant base following a comprehensive renovation project. This will allow an owner/operator to achieve healthy rents as the market continues to move higher. Rising rents and recovering value will provide an investor with strong net operating income and significant capital appreciation over time.
698 Union Street is a multifamily investment opportunity located in Dunedin, Florida in Pinellas County. The property is a one building community situated on 0.2 Acres. The two story building was constructed in 1960 with concrete block framing, stucco exterior wall. The property features highly desirable pitched roofs, with composition shingle covering. The unit mix consists of 6-Studio apartments at approximately 430 square feet. The property represents a distressed property with high investment upside potential.
698 Union St is located in Dunedin, Florida which is in Pinellas County. Dunedin is a city of just over 35,000 people that is situated along the Gulf Coast in the northern part of Pinellas County. Dunedin is home to several beaches, including the renowned Honeymoon Island, as well as being the spring training home of Major League Baseball's Toronto Blue Jays. As part of the Greater Tampa/St. Petersburg/Clearwater MSA, Dunedin residents have easy accessibility to a vast variety of shopping, dining, arts & entertainment, and recreational options. Less than 2 miles from The Subject is Westfield Countryside Mall. Countryside Mall draws a lot of traffic to the immediate area and is home to national retailers such as American Eagle, Dillard's, Foot Locker, Gap, JCPenney, Macy's, Sears and many others. Additionally, the world famous, white sandy beaches of Clearwater and St. Petersburg are only a short drive from the subject.
Value Add Investment Opportunity via Stabilization | All Units Turned & Significantly Improved in 2013 | Exterior Upgrades Including New Paint & Landscaping | Excellent Unit Mix of 25% One Bedroom Floor Plans and 75% Two Bedroom Floorplans
Tampa Pines is a 32-unit apartment community located in Tampa, Florida. The property was built in 1960 & 1963 and consists of 11 buildings, including a laundry room, situated across approximately 2 acres. There are 4 single story duplexes that consist of the 8 one bedroom - one bathroom units. All one bedroom units have wall air conditioning units. The remaining 6 buildings are concrete block on the first floor and wood frame on the second floor. All of the two bedroom units have central air conditioning. There is also a laundry room on-site. All units have been turned and improved this year which includes new vinyl-wood flooring, new cabinets, and new appliances. Additionally, the property has received exterior improvements consisting of landscaping upgrades, window & door repairs, roof repairs, and stairwell renovation. Tampa Pines is a unique opportunity to invest in a property that has been significantly upgraded in the past 8- 12 months and is ready to provide healthy cash flow. The property is approximately 66% occupied currently which provides an experienced owner/operator the opportunity to fill the vacant units with his/her desired tenants at the target rental rates. This property has great potential to provide excellent short term returns and appreciate in value in the long term with continued improvements to the community.
Norstar Riverdale is a 122 unit community that was built in 1978 on 12.7 acres and consists of 18-two story buildings. Norstar Riverdale is made up of spacious 2 and 3 bedroom townhomes and within walking distance to 2 brand new schools.
Norstar Riverdale is a gated community made up of 122 large townhome units that are less than 15 minutes from Norstar Wingate. A majority of the units have recently been renovated, however, there remain 32 down units which will require some capital infusion. The Norstar Riverdale is a unique investment opportunity to acquire a 122 units below market value while seeing a double digit return through improving operations and bringing up down units.