| Purchase Price | $29,700,000 |
|---|---|
| Annual Rental Income | $1,810,000 |
| Cap Rate | 6.09% |
| Lease Term | 20 Years |
| City | Tampa |
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Home Depot – Tampa, Florida (Brandon Submarket – Hillsborough County)
The Home Depot property located in the Brandon submarket of Tampa, Florida represents a rare opportunity to acquire a long-term, single-tenant net-leased asset backed by The Home Depot Inc., one of the most creditworthy and dominant retailers in the United States. This freestanding store occupies a high-traffic, highly visible parcel in one of the Tampa MSA’s strongest suburban trade areas, serving a rapidly growing population base fueled by residential expansion, household formation, and infrastructure investment.
As a major hub within Home Depot’s regional service strategy, this location offers both traditional in-store sales and supports its omnichannel distribution network. It services both residential do-it-yourself (DIY) shoppers and high-frequency professional customers including contractors, builders, and commercial property managers. With a highly strategic location near major arterial routes, the property provides strong accessibility, consistent customer flow, and regional pull, making it a vital node in Home Depot’s footprint within central Florida.
This offering provides a passive investor the ability to acquire a mission-critical retail asset under a long-term lease to an investment-grade tenant, with minimal landlord responsibilities and high renewal probability. The location benefits from strong demographics, consistent consumer demand, and deep economic support from the broader Tampa Bay region—one of Florida’s fastest-growing and most economically diverse metropolitan areas.
Tenant Overview – The Home Depot Inc.
The Home Depot Inc. (NYSE: HD) is the largest home improvement retailer in the world, with over 2,300 stores and more than $150 billion in annual sales. Founded in 1978, the company has become a pillar of the American retail landscape, serving homeowners, DIY shoppers, and professional contractors with an unmatched range of building materials, tools, appliances, outdoor living products, and home services.
The company’s scale, market share, and customer loyalty make it one of the strongest retail tenants in the United States. Home Depot’s financial strength is reflected in its consistently high credit ratings—A from Standard & Poor’s and A2 from Moody’s—and its ability to perform well across economic cycles, including during inflationary periods and downturns.
Key financial and operational highlights:
Home Depot’s omnichannel strategy integrates e-commerce with physical retail locations through services like curbside pickup, online ordering, home delivery, and in-store fulfillment. These capabilities have helped Home Depot deepen its customer relationships and solidify the strategic importance of each physical location, including sites like this one in the Brandon submarket.
Lease Structure – Net Lease (NNN)
The property operates under a long-term, corporate-guaranteed triple-net lease (NNN), offering highly predictable income with limited landlord obligations. This lease structure is attractive to private investors, REITs, and 1031 exchange buyers who value passive, inflation-resistant income from investment-grade tenants.
Lease attributes may include:
The reliability of Home Depot as a tenant, combined with this passive lease format, provides long-term income certainty and minimal management responsibility—hallmarks of strong NNN investments.
Market Overview – Tampa, Florida MSA
The Tampa MSA, which includes Hillsborough, Pinellas, Pasco, and Hernando counties, is one of the most dynamic growth markets in the Southeast United States. With a metro population exceeding 3.2 million people, Tampa has become a major center for finance, technology, healthcare, logistics, and real estate development. Florida’s favorable tax environment, affordable cost of living, and high quality of life continue to attract residents and companies at record levels.
The area is home to several major corporate employers, including Raymond James, Jabil, BayCare Health System, and Tech Data Corporation, and offers direct access to international transportation routes via Tampa International Airport, the Port of Tampa Bay, and an expansive interstate highway system.
Tampa market highlights:
Within the MSA, Brandon is one of the strongest suburban submarkets. Its combination of middle- and upper-income households, strong housing stock, quality schools, and proximity to downtown Tampa make it one of the most desirable and active areas for national retailers. New residential communities continue to be built, fueling sustained retail demand.
Trade Area and Demographics – Brandon Submarket
Brandon is one of the fastest-growing and most demographically attractive suburban areas in Florida. Located just 10 miles east of downtown Tampa, it offers a high density of residential communities, commercial developments, and infrastructure investment. The Home Depot in this submarket benefits from:
The local customer base supports consistent sales from both homeowners and contractors. Given the climate and growth patterns, year-round projects involving outdoor improvements, fencing, HVAC systems, flooring, and general remodeling contribute to ongoing demand for Home Depot’s wide range of products and services.
Property Overview – Home Depot Format and Use
Home Depot’s standard store model includes over 100,000 square feet of retail and warehouse space, supplemented by a 20,000-30,000 square foot garden center and a large surface parking lot. In the Brandon submarket, the store is positioned within a high-traffic commercial corridor, with excellent access and co-tenancy from grocery stores, restaurants, banks, pharmacies, and other national brands.
Typical property features include:
The physical layout supports both traditional retail and back-of-house logistics for professional orders and job site fulfillment. These design elements make the property more than just a retail location—it is a multifunctional service hub critical to Home Depot’s business model in this region.
Strategic Role – Omnichannel Growth and Contractor Services
Home Depot’s Brandon location plays a key role in the company’s broader omnichannel strategy. The physical store supports:
The store supports Home Depot’s increasingly tech-driven business, integrating app-based ordering, warehouse visibility, and loyalty program enhancements (especially the Pro Xtra platform for contractors and business accounts).
As residential and commercial building trends remain strong across the Tampa Bay region, locations like this one serve as indispensable outlets and service centers for the local construction economy.
Investment Highlights
Conclusion
The Home Depot in Brandon (Tampa MSA), Florida represents a rare and powerful opportunity to acquire an institutional-quality retail asset with a long-term lease to one of the most stable and essential retailers in the U.S. economy. Backed by a corporate guarantee, passive lease structure, and prime location in a nationally ranked growth market, this asset is positioned to deliver durable cash flow and long-term value appreciation.
With continued migration to Florida, strong construction activity, and a tenant that continues to innovate and reinvest in its footprint, this Home Depot store should remain a cornerstone in the Brandon submarket and a premier holding for any NNN-focused investor.