Firestone Complete Auto Care

2136 George Urban Boulevard, Depew, NY 14043

$1,895,842

Cap Rate 6.00%

Views: 142 DOM: 47 Updated: 08.08.24 Posted: 07.23.24 Status: Active

Summary

Price $1,895,842	Built/Renov 1987/2017	Tenant Firestone Complete Auto Care
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 6,595	Lease Start 10-01-1988	#Units 1,700
Price/SF $287.47	Expiration 10-01-2029	Tenant Type Automotive
NOI $113,750	R. Term 5.0	Ownership Fee Simple
Rent/SF $17.25	Increases 7.8%/4/yrs	Pop 5Mi 253,233
Lot/AC 1.21	Options 2/5yrs/7.8%	AHHI 5Mi $87,123

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Firestone has been operating in this location for over 35 years
The tenant has 5+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 7.8% rental escalations at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Firestone Complete Auto Care is strategically located on George Urban Boulevard, with access to 14,659 vehicles passing by daily. The property is situated at the entrance of Urbandale Plaza, anchored by Wegmans (over 2.8 million visits per year, according to Placer.ai). Additionally, it is 2 miles from the Galleria Mall, one of the top 10 largest malls in America, and less than 3 miles from...

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Key Features

Roof guarantee
In location for years
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Accelerated depreciation
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Firestone Complete Auto Care Wikipedia Firestone Tire & Rubber Company Wikipedia Depew, New York Zip Code 14043 Broker Site Page

Maps

Local Information

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Tenant

Tenant: Firestone Complete Auto Care
Guarantor:Corp T and Rated
Company:Bridgestone Corporation
# Units:1,700
Tenant S&P: A
Moody’s: A2
Stock: OTCMKTS: BRDCY

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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Listing Broker

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