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$1,650,000
Est. payment /mo
1,140 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 1,140 sqft
Price per Sqft $1,447
Subdivision State Hwy Farms
MLS Listing ID O6413181
HOA Y/N No
Year Built 1958
Annual Tax Amount $9,589
Lot Size 0.760 Acres
Acres 0.76
Property Sub-Type Industrial
Source Stellar MLS
Property Description
5305 Garden Lane is a fully tenanted Industrial Outdoor Storage asset generating clean current cash flow under a triple-net commercial lease with AutoBase LLC, operating under the VMS Solutions brand under a "Road Rangers" contract with FDOT. The primary lease runs through February 2028 with an additional one-year tenant renewal option, structured triple-net with real estate taxes flowing through to the tenant. Supplemental income is generated through a long-term billboard ground lease with Clear Channel Outdoor featuring guaranteed annual base rent plus a percentage of net advertising revenues — an inflation-protected income stream with auto-renewal mechanics that extend the lease term effectively into perpetuity. Lease terms, rent structure, and contractual provisions for both tenants are available to qualified buyers under NDA.
Seller will give qualified buyers access to AutoBase during the due diligence period to potentially negotiate an extension of the existing lease prior to closing. This is an uncommon and meaningful concession. A successful extension converts the asset from a short-tail net lease into a long-WALT credit-tenant IOS investment, with material cap rate compression and value enhancement that accrues directly to the buyer at acquisition. Pre-closing tenant engagement, combined with the property's strategic I-4 location and zoning flexibility, gives the right buyer a clear multi-year value creation roadmap from day one.
AutoBase LLC (operating under the VMS Solutions brand) is a national fleet management and vehicle operations company with a multi-decade operating history serving utility providers, telecommunications operators, municipal governments, and transportation authorities across the United States. AutoBase is part of the AutoBase Holdings LLC corporate structure following a 2025 ownership transaction. The tenant occupies the site as a regional fleet storage, dispatch, and crew staging facility — a built-out operational footprint with significant relocation friction and high renewal probability.
Clear Channel Outdoor is one of the largest outdoor advertising operators in the United States, with billboard structures positioned to capture I-4 corridor traffic. The lease structure provides a guaranteed annual floor plus percentage participation in net billboard revenues, allowing the income to grow with billboard advertising market rates over time. The lease's 30-year initial term and auto-renewal provisions make this a long-term, effectively perpetual income stream.
The General Commercial zoning category is among the most permissive in unincorporated Hillsborough County. CG permits commercial, light industrial, outdoor fleet storage, truck parking, contractor yard, retail, and a broad range of permitted-by-right uses. This zoning flexibility supports current tenancy without restriction and preserves multiple future-use pathways for buyers contemplating eventual repositioning, expanded operations, or redevelopment.
A rare convergence of income, optionality, and location. Income today from two creditworthy national tenants. Optionality through seller-facilitated lease extension access. Premier I-4 location in a submarket where comparable infill IOS land does not come available. Comprehensive offering package, lease abstracts, and detailed pro forma available to qualified buyers under NDA.
All Reasonable Offers and Terms Considered. Brokers Protected.
Seller will give qualified buyers access to AutoBase during the due diligence period to potentially negotiate an extension of the existing lease prior to closing. This is an uncommon and meaningful concession. A successful extension converts the asset from a short-tail net lease into a long-WALT credit-tenant IOS investment, with material cap rate compression and value enhancement that accrues directly to the buyer at acquisition. Pre-closing tenant engagement, combined with the property's strategic I-4 location and zoning flexibility, gives the right buyer a clear multi-year value creation roadmap from day one.
AutoBase LLC (operating under the VMS Solutions brand) is a national fleet management and vehicle operations company with a multi-decade operating history serving utility providers, telecommunications operators, municipal governments, and transportation authorities across the United States. AutoBase is part of the AutoBase Holdings LLC corporate structure following a 2025 ownership transaction. The tenant occupies the site as a regional fleet storage, dispatch, and crew staging facility — a built-out operational footprint with significant relocation friction and high renewal probability.
Clear Channel Outdoor is one of the largest outdoor advertising operators in the United States, with billboard structures positioned to capture I-4 corridor traffic. The lease structure provides a guaranteed annual floor plus percentage participation in net billboard revenues, allowing the income to grow with billboard advertising market rates over time. The lease's 30-year initial term and auto-renewal provisions make this a long-term, effectively perpetual income stream.
The General Commercial zoning category is among the most permissive in unincorporated Hillsborough County. CG permits commercial, light industrial, outdoor fleet storage, truck parking, contractor yard, retail, and a broad range of permitted-by-right uses. This zoning flexibility supports current tenancy without restriction and preserves multiple future-use pathways for buyers contemplating eventual repositioning, expanded operations, or redevelopment.
A rare convergence of income, optionality, and location. Income today from two creditworthy national tenants. Optionality through seller-facilitated lease extension access. Premier I-4 location in a submarket where comparable infill IOS land does not come available. Comprehensive offering package, lease abstracts, and detailed pro forma available to qualified buyers under NDA.
All Reasonable Offers and Terms Considered. Brokers Protected.
Location
State FL
County Hillsborough
Community State Hwy Farms
Area 33610 - Tampa / East Lake
Zoning CG
Interior
Cooling Office Only
Building
Foundation Block
Lot Size Range 1/2 to less than 1
Structure Type Block
New Construction false
Others
Ownership Fee Simple
Special Listing Condition None
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Listed by Brad Kuskin COMPASS FLORIDA LLC
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Victor A Aguilar
Agent/Team Lead | License ID: 0653089
Agent/Team Lead License ID: 0653089