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Views: 186 DOM: 121 Updated: 09.10.24 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 4.10
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

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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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
2029 Total Population : 10,712 69,852 247,836
2024 Total Population : 10,947 70,281 250,088
2024 Employed Civilian Pop : 5,660 36,352 122,888
2024 Total Businesses : 487 3,146 8,287
2024 Average Household Income : $ 82,935 $ 86,831 $ 92,404
2024 Total Consumer Spending : $ 368 M $ 2470 M $ 8813 M
2024 Median Age : 45 44 41
2024 Total Households : 5,041 32,270 108,107
2024 Pop Age 25+: Bachelor's Degree : 1,500 9,833 35,469
2024 Average Home Value : $ 325,244 $ 277,869 $ 293,839
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
George Urban Blvd Candace Ln 2019 13,330 0.17 mi
Barnabas Dr 2021 738 0.22 mi
Dick Rd Claudette Ct 2019 27,412 0.29 mi
Dick Rd N Creek Dr 2011 20,820 0.33 mi
George Urban Blvd Sable Palm Dr 2012 13,008 0.40 mi
Marlene Dr 2021 282 0.41 mi
Dick Rd Chapel Ave 2019 29,756 0.56 mi
S Creek Dr 2021 112 0.57 mi
East Ave 2021 207 0.58 mi
George Urban Blvd Nagel Dr 2011 14,054 0.59 mi

Listing Broker

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