Havoline Xpress Lube
2985 East Bay Drive | Largo, FL 33771
Triple-Net Lease - Zero Landlord Responsibilities
Most Dense County in Florida - 112,000 People Within Three Miles
High Traffic Location - 63,500 Vehicles Per Day
Located in Dense Retail Corridor
No State Income Tax
First Vice President Investments
Marcus & Millichap is pleased to exclusively offer for sale this former Havoline Xpress Lube in Largo, Florida. There are approximately three years remaining on the current lease term, which is guaranteed by Driven Florida Lubes, Inc., a subsidiary of Driven Brands Inc.. Driven Brands Inc. is the largest Havoline Xpress Lube operator in Florida.
With approximately three years remaining on the base term, the total remaining income under the current lease totals almost $260,000. Property taxes, insurance, repairs and maintenance are the sole responsibility of the Driven Florida Lubes, Inc. for the remainder of the lease term. This is a fantastic opportunity to redevelop a “Class A” site in the heart of Pinellas County while receiving an attractive return from the in-place cash flow.
This site is ideally located on East Bay Drive between U.S. Highway 19 and Alternate 19, the two major north-south highways in Pinellas county. The subject property benefits from the traffic on East Bay Drive, which is traveled by approximately 63,500 passing vehicles per day. There is a multitude of national retailers immediately surrounding the subject property such as McDonald's, Walgreens, Starbucks, KFC, Winn-Dixie, Panda Express, Bank of America, Bealls Outlet, Outback Steakhouse, Dunkin' Donuts, Harbor Freight Tools, Culver's, Chase Bank, SunTrust and Publix.
Largo is the third largest city in Pinellas county and is located south of Clearwater and north of Saint Petersburg. The city of Largo has an average of 4,946 people per square mile. The vast majority of employment opportunities in the area are in services and retail sales, with technology and data companies and medical facilities being the city's top employers.
Largo is an attractive place to live due to its year round beautiful weather, convenient location near the areas three major cities, Tampa, Saint Petersburg and Clearwater, and close proximity to award winning beaches. Clearwater Beach's white sand, crystal clear waters, and tranquil gulf breezes has earned it the number one spot on TripAdvisor's Top 10 Travelers' Choice Beaches in the United States, with Saint Pete Beach earning the number seven spot on the list.