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Views: 74 DOM: 161 Updated: 10.06.24 Posted: 06.25.24 Status: Active

Summary

Price $5,192,300
Built/Renov 2024
Tenant Tires Plus
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,525
Lease Start 09-19-2024
#Units 447
Price/SF $795.75
Expiration 09-30-2039
Tenant Type Automotive
NOI $259,615
R. Term 14.10
Ownership Fee Simple
Rent/SF $39.79
Increases 5.0%/5/yrs
Pop 5Mi 93,580
Lot/AC 0.88
Options 5/5yrs/5%
AHHI 5Mi $64,799

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Tires Plus store is strategically located on 4th Street West, with access to a robust daily traffic count of 52,000 vehicles. The property is surrounded by well-known national tenants, including Walmart (which ranks in the top 6% of all Walmart stores in the country with 3.7 million annual visitors), Aldi, AutoZone, Starbucks, Taco Bell, and more. The 5-mile trade area is supported by a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tires Plus
  • Guarantor:Corp T and Rated
  • Company:Bridgestone Retail Operations
  • # Units:447
  • Tenant S&P: A
  • Moody’s: A2
  • Stock: OTCMKTS: BRDCY

About Tenant

Tires Plus Total Car Care is an American chain of tire and automotive repair facilities. Their extensive network of stores carries thousands of tires for all vehicle types as well as offers total...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 7,219 57,380 126,017
2024 Total Population : 6,632 52,735 113,555
2024 Employed Civilian Pop : 3,219 24,904 51,910
2024 Total Businesses : 274 1,109 1,909
2024 Average Household Income : $ 84,304 $ 71,724 $ 80,278
2024 Total Consumer Spending : $ 158 M $ 1135 M $ 2690 M
2024 Median Age : 37 36 36
2024 Total Households : 2,112 17,774 37,672
2024 Pop Age 25+: Bachelor's Degree : 577 4,238 10,692
2024 Average Home Value : $ 318,727 $ 308,123 $ 348,517
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lee Boulevard Lee Blvd 2019 43,300 0.60 mi
Lee Blvd Olive Ave 2001 23,700 0.78 mi
Lee Boulevard Ruth Ave 2022 52,000 0.94 mi
Sunshine Blvd 6th St W 2001 3,400 0.97 mi
Sunshine Blvd 12th St W 2000 2,300 1.19 mi
Homestead Road North Plz Dr 2022 27,500 1.25 mi
Beth Stacey Boulevard Woodward Blvd 2022 9,900 1.32 mi
Williams Avenue 6th St W 2022 17,600 1.42 mi
6th St W Magnolia Ave 2001 3,000 1.49 mi
Westminster St N Homestead Rd N 2001 22,000 1.65 mi

Listing Broker

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