Firestone – Alachua, FL
Fortis Net Lease is pleased to present this 6,621 SF Firestone Complete Auto Care store located in Alachua, Florida. This 15 year Absolute NNN Lease will require zero landlord responsibilities. The lease offers 5% rental rate increases every 5 years including at each of the 5 (5 Year) Options. The store is currently under construction with rent start & store opening on track for June 2025.
This Firestone benefits from excellent visibility as it is located on the corner of 173rd Street (seeing 5,500 VPD) & Highway 441 (seeing 34,000 cars per day). It sits just off the I-75 exit (seeing 68,500 cars per day), next to the Santa Fe Ford dealership, and part of the new Santa Fe Crossings development (which includes Wawa and pending Chick-fil-A & a Car Wash). This immediate area has many developments in process including multiple subdivisions and the construction of the Tower Hill Headquarters – a 72,000 SF building housing 300 employees. The ten mile population from the site is 45,681. The three mile household income is $92,442. This is a growing area of Florida with the 10 mile population growth rate at 6.24% This investment will offer a new owner continued success due to the strength and proven profitability of the tenant. List price reflects a 5.00% cap rate based on NOI of $261,420.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | No Landlord Responsibilities
• HUGE DEVELOPMENT AREA OF FLORIDA! Residential homes, Infrastructure Improvements, Subdivisions & Tower Hill Headquarters (300 employees)
• Santa Fe Crossings – New Development | 5 Sites Including Wawa & pending Chick-fil-A & Car Wash
• 5% Rental Rate Increases Every 5 Years
• Five (5 Year) Options Each | 5% Rent Increase at Each
• Just off I-75 S Exit (68,500 ADTC)
• Adjacent to Santa Fe Ford Dealership
• 10 Mile Population 45,681 | Expected Growth 6.24%
• 3 Mile Average Household Income $92,442
• 34,000 Cars Per day on Hwy 441 | Corner Site Location
• 5,500 VPD on NW 173rd Street