Firestone Complete Auto Care

2136 George Urban Boulevard, Depew, NY 14043

$1,895,842

Cap Rate 6.00%

Views: 209 DOM: 151 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 4.9	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

1 Mile
3 Miles
5 Miles

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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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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