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Views: 119 DOM: 343 Updated: 11.08.24 Posted: 12.07.23 Status: Active

Summary

Price $1,146,000
Built/Renov 1983
Tenant Firestone Complete Auto Care
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,678
Lease Start 11-01-1995
#Units 1,700
Price/SF $107.32
Expiration 10-31-2025
Tenant Type Automotive
NOI $80,200
R. Term 0.11
Ownership Fee Simple
Rent/SF $7.51
Increases 6.0%/2/yrs
Pop 5Mi 206,614
Lot/AC 1.41
Options 4/5yrs/6%
AHHI 5Mi $73,205

Lease Highlights

  • Firestone has been operating in this location for almost 30 years
  • Tenant has 1 year remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 6% rental increase at the start of each option
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: A)

Location Description

Firestone Complete Auto Care is strategically located on Chapel Hill Road, with access to 12,931 vehicles passing by daily. The property sits as a pad to the former Chapel Hill Mall, currently undergoing a major redevelopment in which the 800,000 square feet complex is in the process of being transformed into a light industrial business park. Positioned less than one mile off Exit 4 of Ohio...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

The Firestone Tire & Rubber Company was founded in 1900 in Akron, Ohio by Harvey S. Firestone. The company started by marketing solid rubber tires for carriage wheels. Firestone began opening...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,508 86,416 206,659
2023 Total Population : 10,718 87,993 208,818
2023 Employed Civilian Pop : 5,357 43,105 100,995
2023 Total Businesses : 431 2,675 7,094
2023 Average Household Income : $ 61,348 $ 73,254 $ 75,682
2023 Total Consumer Spending : $ 278 M $ 2456 M $ 6070 M
2023 Median Age : 42 41 40
2023 Total Households : 5,149 38,385 91,986
2023 Pop Age 25+: Bachelor's Degree : 1,099 12,252 30,583
2023 Average Home Value : $ 161,828 $ 173,229 $ 191,616
*ESRI data is presented for informational purposes only

Listing Broker

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