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Views: 10 DOM: 12 Updated: 10.12.24 Posted: 10.12.24 Status: Active

Summary

Price $900,000
Built/Renov 1988
Tenant Goodyear
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 5,924
Lease Start 12-01-1988
#Units 950
Price/SF $151.92
Expiration 11-30-2034
Tenant Type Automotive
NOI $54,000
R. Term 10.1
Ownership Fee Simple
Rent/SF $9.12
Increases 5.0%/2/yrs
Pop 5Mi 125,460
Lot/AC 0.69
Options 3/5yrs/7.5%
AHHI 5Mi $101,209

Lease Highlights

  • Goodyear has been operating in this location since 1988
  • The tenant has 10 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 5% rental increases on 12/1/2027, 12/1/2031 & 7.5% in each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease (NASDAQ: GT)

Location Description

Goodyear is strategically located on Lee Highway, a major thoroughfare with access to 32,500 vehicles passing by daily. The property is surrounded by prominent national retailers, including Target, Walmart, Lowe's, Home Depot, Buffalo Wild Wings, Panera Bread, and more. Notable attractions nearby include Hamilton Place Mall, a large shopping center offering a blend of high-end retailers,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Goodyear
  • Guarantor:Corp T and Rated
  • Company:Goodyear Tire & Rubber Company
  • # Units:950
  • Tenant S&P: B+
  • Moody’s: B1
  • Stock: NASDAQ: GT

About Tenant

The Goodyear Tire & Rubber Company, founded in 1898, together with its subsidiaries, develops, manufactures, markets, and distributes tires, and related products and services in the U.S. and...


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