Two single-tenant retail properties in Tampa Bay sell for $3.7 million

CLEARWATER & LAKELAND, FL, April 9, 2025 – Colliers represented the sellers in two sales involving freestanding, single-tenant retail buildings in the Tampa Bay area for a total of $3,702,153.

Amstin LLC purchased a 3,415-square-foot Burger King location at 3770 Ulmerton Road in Clearwater for $1.5 million. And an undisclosed private buyer has purchased a 7,627-square-foot O’Reilly Auto Parts location at 4950 Dave Robbins Way in Lakeland for $2,202,153.

Michael Brewster of Colliers represented the private seller of the Clearwater property in the transaction. Representing Watkins Real Estate Group, the seller of the Lakeland property, was Michael Brewster and Brad Peterson of Colliers.

“These properties saw strong interest from local and out-of-state buyers, despite the Burger King having a short lease term and the O’Reilly presenting minor landlord responsibilities to a pool of investors that would otherwise seek to buy long-term, passive investments,” said Brewster, vice president, retail investments at Colliers. “Investors see the appeal of buying retail property in Florida.”

The Burger King property in Clearwater property is located in Pinellas County, the most densely populated county in Florida. The franchisee re-built this store from the ground up in 2019 on the hard corner lot at a lighted intersection just 900 feet south of the St. Pete-Clearwater Airport, where nearly 86,000 vehicles per day drive on Ulmerton Rd.

The job base and access to transportation routes results in 104,000 people in a 10-minute drive-time and a daytime population of 93,000 in 3 miles. Ulmerton Rd connects to the busiest bridge in the Tampa MSA, the Howard Frankland Bridge, which carries over 141,000 vehicles per day.

The O’Reilly Auto Parts location in Lakeland is a hard-corner outparcel to a Publix-anchored shopping center that welcomes 1.8 million annual visitors along Bartow Rd in the same metro area where Publix Supermarkets is headquartered and O’Reilly Auto Parts has a distribution facility. Over 80,700 residents live within a 5-mile radius with an average household income of $112,799. More than 5,100 new residential units are underway in and around the 3-mile radius surrounding the property.

“These successful sales, plus a third on the same day for a Bojangles in Orlando, represent positive trends in investor confidence broadly in single-tenant net lease properties and that sellers are finding ways to reinvest the sale proceeds into development or different geographies,” Brewster said.

Media Contact:

Noelle Anderson

Noelle@truebluecommunications.com

813-857-2949

About Colliers

Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With annual revenues exceeding $4.8 billion, a team of 23,000 professionals, and $99 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.