Firestone – Cape Coral, FL

$3,993,706
Price
N/A
Noi
Inquire
Cap Rate
6,424
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 6,424 SF. Firestone Complete Auto Care store located in Cape Coral, Florida. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years during the primary term and the five (5) Yr. options to renew. The lease is corporately guaranteed by Bridgestone which holds an Investment Grade credit rating of “A”. The store is currently under construction, with rent commencing in January 2020.

This Firestone store is highly visible as it is strategically positioned on Del Prado Blvd N., which sees which sees 30,500 cars per day, just off of Pine Island Road, which sees 32,024 cars per day. Adjacent to the site is a CVS building and a Lowe’s Home Improvement store. The five mile population from the site is 137,389 while the one mile average household income is $54,354 per year, making this location ideal for a Firestone. The area is experiencing great growth with the one mile population growth rate at 12.19% and the five mile expected growth at 12.55%. 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.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increases Every 5 Years
• Brand New Construction | Adjacent to CVS and Lowe’s
• Five (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $54,354
• One Mile Population Growth Expected 12.19%
• Five Mile Population 137,389 with Expected 12.55% Growth
• 30,500 Cars Per Day on Del Prado Blvd N.
• 32,024 Cars Per Day on Pine Island Road
• Surrounded by National Retailers and Residential

Instate Broker of Record: Michael Houghton | Oak Realty Advisors