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Views: 3 Updated: 09.19.24 Posted: 09.19.24 Status: Active

Summary

Price $984,828
Built/Renov 1998
Tenant Firestone Complete Auto Care
Cap Rate 7.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,304
Lease Start 06-07-2022
#Units 1,700
Price/SF $118.60
Expiration 01-31-2030
Tenant Type Automotive
NOI $71,400
R. Term 5.4
Ownership Fee Simple
Rent/SF $8.60
Increases 10.0%/5/yrs
Pop 5Mi 68,372
Lot/AC 1.01
Options 3/5yrs/10%
AHHI 5Mi $65,473

Lease Highlights

  • Firestone Complete Auto Care has been operating in this location since the 1970’s
  • The tenant has 5+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases 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 Park Avenue West, with access to 15,640 vehicles passing by daily. The property is situated on an outparcel adjacent to Kroger and U-Haul. Nearby national tenants include Walgreens, Chase Bank, Arby’s, Family Dollar, Taco Bell, and more. Additionally, the site is approximately one mile west of Mansfield Senior High School and less than...

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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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Listing Broker

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