Sale Price: $2,037,400
Cap Rate: 5.50%
NOI: $112,057
Lease Term: Pizza Hut – 10 years, PurePoint Financial – 7 years
Lot Size: .25 AC
Building Size: 3,195 SF
Year Built: 2017
Optimus Commercial Real Estate Investment Advisors is proud to present a two-tenant shopping plaza in St. Petersburg, FL. The tenants’, Pizza Hut and PurePoint Financial, rent commenced 7/1/2017 and are NN leases with roof/structure warranties in place, which means there are zero Landlord responsibilities. Pizza Hut’s lease is guaranteed by NPC International, the largest Pizza Hut and Wendy’s franchisee in the world, operating 1,144 Pizza Huts and 386 Wendy’s. Pizza Hut has an initial 10 year term with four 3-year options and 2% annual escalators. MUFG Union Bank, N.A., doing business as PurePoint Financial, is a publicly traded (NYSE: MTU), investment grade (S&P: A) tenant that caters to higher end clientele. PurePoint Financial has an initial 7-year lease in place with four 5-year options with 10% escalators each option. Strong demographics in the area with an average household income of over $80,000 and 250,000+ residents within a 5 mile radius. St. Petersburg is one of the fastest growing cities in America and 4th St is at the center of the new development.
| Price: | $2,037,400 |
| Address: | 2421 4th St N |
| City: | St. Petersburg |
| County: | Pinellas |
| State: | FL |
| Zip Code: | 33704 |
| Year Built: | 2017 |
| Square Feet: | 3,195 |
| Acres: | .25 |
