Tire Kingdom Service Centers | Oviedo, FL 1485 E Mitchell Hammock Rd Local commercial 618 m² À vendre Oviedo, FL 32765 2 117 591 € (3 425,03 €/m²) Taux de capitalisation 5,75 %

Marcus & Millichap is pleased to present a premier net lease investment opportunity featuring a long-standing Tire Kingdom location in Oviedo, Florida—one of the most affluent suburbs in the greater Orlando area. Originally executed as a 20-year lease in 2002, the tenant demonstrated strong performance and long-term commitment by exercising its renewal option early in 2022, extending the lease for an additional 10 years. The property is operated by Mavis Tire Express Services, which acquired all Tire Kingdom retail operations in 2023, while the lease remains corporately guaranteed by TBC Corporation—one of the largest tire distributors in North America and jointly owned by industry leaders Sumitomo Corporation of America and Michelin North America.
The absolute NNN lease structure requires no landlord responsibilities, offering truly passive ownership, with a scheduled 8% rent increase in March 2027 that will raise the projected yield to over 6.2%. The tenant currently pays below-market rent at approximately $21 per square foot, presenting an opportunity for future rental upside. Located along Mitchell Hammock Road, the property benefits from strong visibility and over 32,000 vehicles per day and is surrounded by a robust mix of national retailers including Publix, Winn-Dixie, Wawa, CVS, Bank of America, and McDonald's. With a median household income exceeding $114,000 and a growing residential base of over 8,700 people within a one-mile radius, this asset is ideally positioned in one of Central Florida’s most desirable trade areas.