™ 1260 E Lake Road South | Tarpon Springs, FL 34688 OFFERING MEMORANDUM LISTED BY Christopher Laskero Senior Associate Direct +1 214 692 2921 Mobile +1 858 414 7849 [email protected] License No. 677086 (TX) Braden Crockett Vice President & Director Direct +1 214 692 2040 Mobile +1 714 345 6206 [email protected] License No. 01946071 (CA) Broker of Record Kyle Matthews License No. CQ1052263 (FL) Actual Site Photo TABLE OF CONTENTS 4 EXECUTIVE OVERVIEW 6 FINANCIAL OVERVIEW 8 TENANT OVERVIEW 12 AREA OVERVIEW 1260 E Lake Rd S | Tarpon Springs, FL OFFERING MEMORANDUM EXECUTIVE OVERVIEW INVESTMENT HIGHLIGHTS PROPERTY • Attractive Long Term Lease – Newly constructed 10-Year Term with Four (4), Five (5) Year Options • NNN Lease – Tenant is responsible for Taxes, Insurance, Roof, Parking Lot, and HVAC Systems, making this an ideal 1031 property for investors seeking a passive investment • Growing Cash Flow – Strong 10% rental increases throughout the base term of the leases; including options • Long-Term Operating History – Tenant has been operating at this location since the initial lease commenced dating back to the early 2,000’s • Efficient 8-Bay Store Footprint – Allows a tenant to maximize capacity while minimizing fixed costs RETAIL TRADE AREA • Healthy Traffic Counts – Property is ideally positioned along East Lake Rd. that sees over ±54,000 VPD • Strategically Located – Property is directly adjacent to East Lake High School allowing Tire Kingdom to develop rapport within the local community • Robust Demographics – Average Household Income Profile exceeds $100,000 within a 1-Mile Radius TENANT • Corporate Guaranteed Lease – Property is leased to TBC Corporate one of the nation’s largest vertically integrated marketers of tires for the automotive replacement market • Proven Track Record of Corporate Success - over 1,200+ locations nationwide • Tire Kingdom is an industry-leading Tire Retailer - owned by TBC Corporation that specializes in tire and battery replacement as well as offering a multitude of mechanics services 4 | OFFERING MEMORANDUM SITE PLAN Actual Site Photo TIRE KINGDOM | 5 FINANCIAL OVERVIEW $1,455,999 $91,000 6.25% LIST PRICE NOI CAP RATE BUILDING INFO 1260 E Lake Road S Address Tarpon Springs, FL 34688 GLA ±5,922 SF Lot ±0.72 Acres Year Built 2003 6 | DISPOSITIONOFFERING MEMORANDUM PROPOSAL TENANT SUMMARY Tenant Trade Name Tire Kingdom ANNUALIZED OPERATING DATA Annual Rent Date Monthly Rent Annual Rent Rent Increase Type of Ownership Fee Simple PSF Lease Guarantor Corporate Current - 3/18/2025 $7,583.33 $91,000 $15.37 6.25% TBC Retail Group, Inc., a Florida 3/19/2025 - 3/18/2030 $8,341.67 $100,100 $16.90 6.88% Guarantor Entity Corporation Option 1 $9,175.83 $110,110 $18.59 7.56% Lease Type NNN Option 2 $10,093.42 $121,121 $20.45 8.32% Minimal LL Responsibilites Slab, Foundation, Structure Option 3 $11,102.76 $133,233 $22.50 9.15% Term Remaining on Lease 10 Years Option 4 $12,213.03 $146,556 $24.75 10.07% Lease Expiration Date 3/18/30 Increases 10% Every 5 Years Options Four (4), 5-Year Options TIRE KINGDOM | 7 TENANT OVERVIEW The Offering Tenant Overview PROPERTY NAME Tire Kingdom » Company Name » Locations » Headquarters Property Address 1260 E Lake Rd S Tire Kingdom ±1,200 Palm Beach Gardens, FL Tarpon Springs, FL 34688 » Ownership » Parent Company » Website SITE DESCRIPTION Private TBC Corporation www.tirekingdom.com Number of Stories One Year Built 2003 Tire Kingdom strives to be a go-to resource for any car’s health. With a huge range of tires and quality products at the guaranteed Lot Size ±0.72 AC lowest price, combined with fast, hassle-free service, our bumper-to-bumper auto care is all you need, every time. Whenever a vehicle requires service or repair, customers can trust the highly qualified technicians to get a car back on the road. They will even Type of Ownership Fee Simple help customers remember the important to-dos like oil changes and routine service. Landscaping Professional Generally Level Topography The TBC Retail Group® includes NTB® and Tire Kingdom® stores. Tire Kingdom employees are committed to being the industry leader in car care, which is why their service technicians upgrade their skills and knowledge every year to provide customers with state-of-the-art expertise. Automotive Service Excellence (ASE) certification lets customers know our auto professionals are qualified and knowledgeable, so any vehicle is in good hands, every time. 8 | OFFERING MEMORANDUM PROFESSIONAL DRONE PHOTOGRAPHY TIRE KINGDOM | 9 SURROUNDING TENANTS NEW OAK CREEK E. LAKE RD ± 54,000 VPD DEVELOPMENT PRESCHOOL 10 | OFFERING MEMORANDUM EAST LAKE HIGH SCHOOL ± 2,237 STUDENTS DEVELOPMENTNEW OAK CREEK PRESCHOOL E. LAKE RD ± 54,000 VPD TIRE KINGDOM | 11 AREA OVERVIEW TARPON SPRINGS, FL The historic waterfront town of Tarpon Springs - just 20 minutes north of Clearwater - has a way of transporting you thousands of miles away to a coastal village in Greece. After the discovery of natural sponge beds in the early 1900s, Greek sponge divers arrived in Tarpon Springs, a community at the northern end of the St Petersburg/Clearwater area. The main attraction of Tarpon Springs then became its famous Sponge Docks, which are set along the Anclote River. The Greek heritage is still strong in Tarpon Springs. Dodecanese Boulevard, which follows the riverfront, is lined with gift shops that carry everything from souvenirs to home goods, natural sponges to olive oil soap. Wander a few blocks south and you’ll find several antique shops on downtown’s Tarpon Avenue. Authentic Greek restaurants - including Mama’s Greek Cuisine, Hellas and Mykonos - line the downtown streets. Tarpon Springs Aquarium is a popular attraction where you can pet the baby sharks and stingrays and learn about the sea life of the nearby Gulf of Mexico. Another attraction is St Nicholas Greek Orthodox Cathedral, an ornate historic building. DEMOGRAPHICS 1-MILE 3-MILE 5-MILE POPULATION 5,395 34,991 130,103 HOUSEHOLDS 2,089 14,608 54,773 INCOME $129,540 $114,138 $97,687 12 | OFFERING MEMORANDUM EDUCATION The Tampa MSA is a magnet for young, educated people. Hillsborough County’s millennial population is growing 13 percent faster than the nation as a whole, according to U.S. Census data. Three public universities located within a short drive of Tampa Bay – University of South Florida, University of Central Florida, and University of Florida – are home to more than 150,000 students, over 60 percent of whom will stay in Florida upon graduation. Tampa Bay has more than 80 colleges, universities, and technical schools producing thousands of graduates for area employers each year. Approximately 92,000 veterans are in the active labor force as well, offering employers an invaluable source of uniquely trained personnel. The University of South Florida Muma College of Business boasts one of the nation’s best accounting schools, a top-ranked entrepreneurship center, a nationally-ranked MBA program, and a world-class research faculty. More than 2,200 students are enrolled in the Sykes College of Business at the University of Tampa, recognized by The Princeton Review as one of the top 300 business schools in the world for nine consecutive years. University of Tampa’s Sykes College of Business has also been ranked the 7th best for value for the price, beating out University of Notre Dame, Harvard University, and Duke University. Additionally, Hillsborough County Public Schools and Hillsborough Community College provide a variety of training programs for area employers, developing customized curriculum to meet specific business needs. TIRE KINGDOM | 13 TAMPA, FL The City of Tampa is the largest city in Hillsborough County and is the county seat and the third most populous city in Florida. It is located on the west coast of Florida, approximately 200 miles northwest of Miami, 180 southwest of Jacksonville, and 20 miles northeast of St. Petersburg. The population of the city represents approximately one-third of the total population of Hillsborough County. Tampa’s economy is founded on a diverse base that includes tourism, agriculture, construction, finance, healthcare, government, technology, and the port of Tampa. Tampa is part of the metropolitan area most commonly referred to as the “Tampa Bay Area”. Tampa is part of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C., and Atlanta. The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas. In the next five years, Hillsborough County’s population is projected to grow significantly faster than the state of Florida By 2022, Hillsborough County’s population will be nearly 1.5 million 14 | OFFERING MEMORANDUM CULTURE EVENTS SPORTS Tampa is home to many different performing arts One of the most well-known events in Tampa is the Tampa has four professional sports teams: Tampa Bay venues, theaters, and museums. Popular theaters celebration of “Gasparilla,” a mock pirate invasion Buccaneers (NFL), Tampa Bay Rays (MLB),Tampa Bay include David A. Straz Jr. Center for the Performing held every year since 1904. Residents often refer to Lightning (NHL), and the Tampa Bay Rowdies (AFL). Arts, Tampa Theatre, and Gorilla Theatre. Some the event as Tampa’s “Mardi Gras.” The invasion is led Each team has brought home victories and keep popular Tampa organizations include the Florida by the pirate ship, “Jose Gasparilla,” and is followed building a growing fan base, specifically in baseball. Orchestra, Opera Tampa, and Stageworks Theatre. by numerous parades and city activities. This event For decades, Major League Baseball has had spring One of the most popular museums in the area is the brings in over 400,000 attendees and contributes training facilities and minor league baseball teams Museum of Science and Industry.