Avis/Budget Car and Truck Rental

10902 N Florida Avenue | Tampa, Florida 33612

Contact Brokers

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

Highlights

  • Credit Rated Tenant: Avis Budget Car Rental is rated B3 by Moody's

  • AVIS Has Multiple Revenue Streams from Business at this Site Including Auto Sales, Auto Rental Services, Auto Financing and Auto Repair

  • Strong Drivers Nearby: Tampa International Airport, Downtown Tampa, strong student bases from the University of South Florida and University of Tampa, local attractions like Busch Gardens, and professional sporting venues for the Tampa Bay Buccaneers and the Tampa Bay Lightning.

  • Resilience Through the Pandemic: Avis Budget maintained a strong position during 2020 in spite of this environment.

  • Strong Base Increases: There is an upcoming 11% Rent Bump in December 2023 Followed by 3% Annual Rent Increases Thereafter

  • Recent Lease Extension: Tenant Recently Showed Commitment to the Site By Signing a New 7 Year Lease Extension in December 2020

  • AVIS Has Been Operating Successfully at This Location Since November 2017

Description

Marcus & Millichap is pleased to present Avis/Budget Car and Truck Rental, a rare opportunity for an investor to purchase a truly iconic brand in the market of Tampa, FL. Avis Budget Car Rental is a credit rated tenant - rated B3 by Moody's. The tenant recently showed commitment to the site by signing a new 7-year lease extension in December 2020. The subject property is located in the Tampa MSA on North Florida Avenue which sees over 24,000 cars per day. The area has exceptional population migration and density making this a prime location with a proven track record of success.