Firestone – Buckeye, AZ
Fortis Net Lease is pleased to present this 6,118 SF Firestone store located in Buckeye, Arizona. The property is encumbered with a Twenty Five (25) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (5) Yr. Options to renew, each with a rental rate increase. The lease is corporately guaranteed by Firestone Corporation which holds a credit rating of “A”, which is classified as Investment Grade. The rent commenced back in 2009 and has been successful ever since.
This Firestone is highly visible as it is strategically positioned on Watson Rd. The five mile population from the site is 50,013 while the two mile average household income$65,800 per year, making this location ideal for a Firestone. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Firestone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top auto service corporation. Price reflects an initial 4.85% cap rate based on NOI of $156,250.
• 25 Year NNN Lease | No Landlord Responsibilities
• Firestone Acquired Fletcher’s Tire & Auto Retaining Existing Lease
• The Lease is Corporately Backed by Firestone
• Fries Marketplace Anchored Location
• Investment Grade Auto Store | S&P “A”
• 4-(5) Five Year Options to Renew
• Close to Many Key Cities (Phoenix, Glendale, Scottsdale)
• Five Mile Population Growth 2018-2023 is 9%!