Firestone – Clarksville, TN

$3,760,305
Price
$184,254.96
Noi
4.9%
Cap Rate
6,116
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 6,116 SF. Firestone store located in Clarksville, Tennessee. The property is encumbered with a Fifteen (15) Year 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 delivery in December 2019.

This Firestone store is highly visible as it is strategically positioned off of State Route 76 (which sees 27,038 cars per day) on Winn Way Road. It is surrounded by 3 new shopping center developments with national tenants. The five mile population from the site is 47,292 while the two mile average household income is $102,544 per year, making this location ideal for a Firestone. The area is experiencing great growth with the three mile population growth rate at 9.44%. 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. List price reflects a 5.15% average cap rate based on NOI of $184,254.96.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increase Every 5 Years
• Brand New Construction
• Adjacent to New 10,105 SF Retail Center | Across the Street From
New Publix Anchored Shopping Center
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• Two Mile Household Income $102,544
• Five Mile Population 47,292 with Expected 8.65% Growth
• Three Mile Population Growth Rate 9.44%%
• 27,038 Cars Per Day on State Route 76
• Nashville MSA
• Easy Access from Interstate 24 (1 Mile from Exit)

InState Broker of Record: Henry N. Cannon | Cannon Austin & Cannon, Inc. | License #243009