2901 Tyrone Boulevard

Retail-Commercial for Sale
Catylist Listing ID: 30118383
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 5,740 SF
Gross Building Area: See Agent
Gross Land Area: 0.74 Acres
Sale Price: $1,390,000
Unit Price: $242.16 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.1%
Last Updated: 6/6/2017

Overview / Comments

Agent(s): Mike Heretick - MHeretick@VectorRealty.com and Joshua Sims - JSims@VectorRealty.com

Vector Commercial Real Estate Services is pleased to present this triple-net leased freestanding restaurant building, operated as Hamburger Mary's. Located on Tyrone Boulevard in St. Petersburg, Florida, this intriguing investment property offers a long-term lease, strong 3% annual rent increases, and minimal landlord responsibilities — all in a primary retail submarket within the rapidly growing Tampa Bay Area.

Hamburger Mary’s Bar & Grille was founded in 1972 in San Francisco, California and has since expanded to 13 locations nationally. Known for its fun and flamboyant LGBT-friendly “family dining” atmosphere, Hamburger Mary’s is a strong brand with a unique character. The restaurant serves a full lunch and dinner menu focused around its mouthwatering burgers and delectable desserts, but also incorporates healthy entrees and vegetarian options.

The subject property is located in St. Petersburg, Florida, a key city within the Tampa-St. Petersburg-Clearwater MSA. St. Petersburg is the largest city within Pinellas County, which boasts the highest population density of any county in the state of Florida. The subject property is located within the Tyrone retail submarket and directly across from Tyrone Square Mall, a 900,000 square foot indoor shopping mall operated by Simon Property Group. The mall features 3 anchor tenants and is currently adding additional major retailers, including a Cobb Luxury Theatre constructed in 2016, as well as a national sporting goods store and grocery chain slated for early 2018. There are over 245,000 residents within a five mile radius of the subject property, with traffic counts exceeding 35,000 vehicles per day.

Attachments & Media

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 073116931320000010
Property Visibility: Excellent
Tenancy: Single Tenant

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,385 124,255 283,924
Median Age: 45.47 45.6 45.58
Households: 7,046 55,318 126,740

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