Tire Kingdom

100 East Hillsboro Boulevard, Deerfield Beach, FL 33441

$3,725,000

Cap Rate 5.48%

Views: 45 DOM: 177 Updated: 05.10.24 Posted: 11.22.23 Status: Active

Summary

Price $3,725,000	Built/Renov 1985	Tenant Tire Kingdom
Cap Rate 5.48%	Lease Type Abs NNN	Guarantor Corp Rated
Size/SF 4,400	Lease Start 07-01-2008	#Units 203
Price/SF $846.59	Expiration 06-30-2033	Tenant Type Automotive
NOI $204,269	R. Term 9.1	Ownership Fee Simple
Rent/SF $46.42	Increases 10.0%/4/yrs	Pop 5Mi 248,790
Lot/AC 0.41	Options 3/5yrs/10%	AHHI 5Mi $107,422

Lease Highlights

Tire Kingdom has been operating in this location since 2008
The tenant has 9+ years of term remaining with 3 (5-year) options to extend
The lease features CPI increases every 5 years (not to exceed 10%)
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Tire Kingdom is located at the signalized intersection of Dixie Highway (14,400 VPD) and East Hillsboro Boulevard (56,500 VPD), where it is 0.8 miles west of South Federal Highway (28,500 VPD) and a mile west of I-95 (205,000 VPD). It is adjacent to Enterprise Rent-A-Car and Public Storage. It is also less than 1 mile west of the 145,000-square-foot Hillsboro Square shopping center, which is...

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Key Features

Signalized intersection
Build to suit
High traffic 50M+ VPD
Highway location
Top 100 MSA
Income tax free state
Long operation history
Absolute NNN
Corporate Guarantee
Credit rated company

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Links

Tire Kingdom Wikipedia Tire Kingdom Wikipedia Deerfield Beach, Florida Zip Code 33441 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Tire Kingdom
Guarantor:Corp Rated
Company:Mavis Tire Express Services Corp
# Units:203
Tenant S&P: B-
Moody’s: B3
Stock:Private

About Tenant

Tire Kingdom, Inc. is a tire store chain predominantly located in Florida. The private company started with a single location in West Palm Beach, FL (1972). By the end of 1988, they operated 67...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,498	122,105	248,489
2023 Total Population :	15,676	122,269	248,790
2023 Employed Civilian Pop :	8,102	63,839	125,707
2023 Total Businesses :	1,632	9,501	20,981
2023 Average Household Income :	$ 81,690	$ 105,635	$ 107,422
2023 Total Consumer Spending :	$ 517 M	$ 5076 M	$ 9824 M
2023 Median Age :	45	49	46
2023 Total Households :	7,253	55,550	105,779
2023 Pop Age 25+: Bachelor's Degree :	2,382	25,335	49,523
2023 Average Home Value :	$ 476,701	$ 529,266	$ 502,135

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Hillsboro Blvd	Railroad Ave	2005	38,500	0.03 mi
S Dixie Hwy	SW 1st Ct	2009	9,200	0.14 mi
E Hillsboro Blvd	NE 3rd Ave	2009	35,000	0.15 mi
Dixie Flyover	NE River Dr	2022	18,000	0.21 mi
Dixie Flyover	NE River Dr	2021	17,100	0.21 mi
SE 2nd Ave	SE 2nd Ct	2008	5,600	0.23 mi
East Hillsboro Boulevard	SE 6th Ave	2022	28,500	0.29 mi
S Dixie Hwy	SW 18th St	2018	20,616	0.37 mi
Northeast 2nd Street	NE 6th Ave	2022	2,600	0.37 mi
Southeast 2nd Avenue	SE 5th Ct	2022	4,100	0.45 mi

Listing Broker

Chris Bosworth

CBRE

Contact

121 Listings
5945 Views
43 Sold

Brian Pfohl

CBRE: NLP Atlanta

Contact

122 Listings
5986 Views
41 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLP Atlanta

Contact

125 Listings
6063 Views
44 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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