St Pete Beach Investment Car Rental Tenant 5005 Gulf Blvd Local commercial 222 m² À vendre Saint Petersburg, FL 33706 1 139 086 € (5 132,28 €/m²)

Rare bay-front commercial investment opportunity on Gulf Boulevard in St. Pete Beach, Florida. This single-story commercial building sits on a parcel with direct bay-side frontage on Boca Ciega Bay - an increasingly scarce asset type along one of Florida's most trafficked and sought-after barrier island corridors. Originally constructed in 1971 and renovated multiple times, the property is in excellent physical condition with a new roof installed in 2018 and a brand-new HVAC system installed in May 2026 carrying a 5-year parts warranty and 2 year labor warranty.
The property is home to Dollar Car Rental, a nationally recognized vehicle rental brand that has occupied this location continuously since 1991 - over 30 years of uninterrupted tenancy on one of the most visible commercial corridors in Pinellas County. The current lease is a Modified Gross structure with the tenant in the final years of its option term; set to expire February 28, 2029. Current lease structure is a modified gross lease which presents a compelling value-add opportunity for an incoming investor: upon renewal or with a new tenant, the property is well-positioned for a Triple Net (NNN) restructure at market rents - shifting property insurance, flood insurance, all property taxes, and all capital improvement responsibilities to the tenant and materially increasing net operating income. The gap between current net income and proforma NNN performance represents meaningful upside. Alternatively, the property offers strong owner-user potential upon lease expiration, providing flexibility for a broad range of buyers.
The immediate trade area is experiencing a wave of significant institutional investment that validates the long-term strength of this corridor. The former Postcard Inn at nearby 6300 Gulf Boulevard has been repositioned as The Luce, a Marriott Tribute Portfolio Hotel opening in 2026, while Dolphin Village to the south is being rebuilt by Brixmor Property Group into a next-generation Publix prototype with covered parking. Pinellas County's beaches draw millions of visitors annually, generating billions in economic impact and providing a permanent, year-round demand driver for the vehicle rental services Dollar Car Rental delivers from this address. Full lease details, rent roll, and financials are available to qualified buyers upon execution of a Confidentiality Agreement through this online listing portal.