Firestone Complete Auto Care

8 Mallett Way, Bluffton, SC 29910

$4,200,721

Cap Rate 4.85%

Views: 185 DOM: 699 Updated: 11.22.24 Posted: 01.22.23 Status: Active

Summary

Price $4,200,721	Built/Renov 2018	Tenant Firestone Complete Auto Care
Cap Rate 4.85%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,746	Lease Start 06-01-2018	#Units 1,700
Price/SF $622.70	Expiration 05-31-2033	Tenant Type Automotive
NOI $203,734	R. Term 8.5	Ownership Fee Simple
Rent/SF $30.20	Increases 10.0%/5/yrs	Pop 5Mi 40,534
Lot/AC 1.98	Options 4/5yrs/10%	AHHI 5Mi $106,436

Lease Highlights

Firestone has been operating in this location since 2018
The tenant has 8+ years remaining on its current lease term with 4 (5-year) options to extend
The lease features 10% rent increases every 5 years throughout the initial term and at each option
Corporate guarantee | Investment grade tenant
In 2021, Bridgestone reported revenue more than $33B and ranked #374 on the Fortune 500 list

Location Description

Firestone is located on Mallett Way, the main thoroughfare to and from Hilton Head Island, seeing more than 58,000 vehicles per day. Nearby national tenants include Walgreens, Best Buy, Walmart, Dollar Tree, Target and many others, providing a strong consumer draw to the area. The 5-mile trade area is supported by more than 40,534 residents with an average household income of $106,436....

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Key Features

Build to suit
Major thoroughfare
Dense retail corridor
Near major nationals
Strong tenant synergy
Highway close
Affluent AHHI $100K 5 Mi
Absolute NNN
Corporate Guarantee
Credit rated company

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Links

Firestone Wikipedia Firestone Wikipedia Bluffton, South Carolina Zip Code 29910 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 Retail Operations
# 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
2028 Total Population :	3,927	26,106	46,725
2023 Total Population :	4,023	25,907	46,045
2023 Employed Civilian Pop :	2,105	13,099	22,022
2023 Total Businesses :	563	1,530	2,052
2023 Average Household Income :	$ 81,375	$ 98,812	$ 113,532
2023 Total Consumer Spending :	$ 110 M	$ 854 M	$ 1789 M
2023 Median Age :	35	37	39
2023 Total Households :	1,566	10,031	18,287
2023 Pop Age 25+: Bachelor's Degree :	592	5,118	9,881
2023 Average Home Value :	$ 374,924	$ 436,753	$ 501,853

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Simmonsville Road	Bluffton Pkwy	2021	12,100	0.63 mi
Bluffton Pkwy	Red Cedar St	2010	19,330	0.78 mi
Simmonsville Rd	Phoenix Rd	2010	4,500	0.84 mi
Fording Island Rd	D/w	2005	55,400	0.90 mi
Bluffton Parkway	Red Cedar St	2021	24,600	0.96 mi
Bluffton Parkway	Baywood Ct	2021	23,800	0.97 mi
Bluffton Rd	Godfrey Pl	2005	10,800	1.10 mi
Buck Island Road	Kensington Blvd	2021	7,700	1.12 mi
Buck Island Rd	Trotting Hill Ln	2010	3,300	1.21 mi
Bluffton Road	Shady Glen Dr	2021	16,600	1.23 mi

Listing Broker

Connor Shell

STREAM Capital Partners

Contact

56 Listings
8194 Views
11 Sold

Adam English

STREAM Capital Partners

Contact

25 Listings
4643 Views
4 Sold

Connor Shell

Connor Shell joined STREAM Capital Partners in 2017 as Managing Director expanding our footprint further into Southern California and bringing 8 years of expertise to this area with a long-standing development and investment history. While at STREAM Capital Partners, Connor has grown his transaction footprint, closing deals with major retail developers and private owners throughout the United States. He has developed and strengthened his relationships with private owners, family offices, inst

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Adam English

Adam English, Managing Director at Stream Capital Partners, brings over 12 years of investment brokerage and advisory services experience to the Alabama office and leads the STREAM Southeast team. Adam has become a pillar of support to the Company, providing leadership to the offices and brokers he partners within STREAM. Adam focuses on net lease and sale leaseback transactions throughout the country and has developed a strong base of corporate, national, and regional clients providing advisor

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Jordan Shtulman

STREAM Capital Partners

Contact

76 Listings
9586 Views
33 Sold

Jordan Shtulman

Jordan Shtulman is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jordan Shtulman and his partner, Jonathan Wolfe, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale leas

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