13565 Cypress Glen Ln
Tampa, FL 33637
Retail Property For Sale

The Net Lease Group is pleased to exclusively offer for sale the fee simple interest in a freestanding, single tenant, quick service restaurant property located at 13565 Cypress Glen Lane in Tampa, Florida. The property is approximately 1.06 acres and includes a ± 3,145 SF Wendy’s restaurant with drive-thru that has been in operation since 2005. The property is 100% leased to Starboard Group Tampa, LLC which is a wholly owned subsidiary of The Starboard Group of Companies that operates over 180 Wendy’s restaurants across the United States including, Alabama, Florida, Illinois, Michigan, Missouri, New Jersey, Pennsylvania, Virginia, and Wisconsin. The twenty (20) year absolute triple net (NNN) lease has five (5) years remaining on its initial term and four (4), five-year renewal option periods. The tenant’s current annual rent and net operating income (NOI) is $155,965.15 and the rent increases by 1.5%annually throughout the initial term of the lease and the renewal option periods. The property is well located in a thriving Tampa retail submarket and benefits from its proximity to Interstate 75 and has an Average Daily Traffic Count (ADTC) of over 35,000 per day. Neighboring retailers include Walmart, Dunkin Donuts, Starbucks, and Bob Evans, among others. The offering provides an investor the opportunity to own an institutional quality asset that delivers stable and predictable income throughout the entire lease term as well as the renewal options and provides appreciation through its fixed rent escalations. The landlord has no responsibilities whatsoever during the initial lease term or any renewal option periods thereafter.