Firestone Complete Auto Care – Flowood, MS

$3,480,560
Price
N/A
Noi
Market
Cap Rate
5,798
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 5,798 SF. Firestone Complete Auto Care store located in Flowood, Mississippi. The property offers 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 store is currently under construction, with rent scheduled to commence in July 2020.

This Firestone store is highly visible as it is strategically positioned on E Pineview Drive, just off of and visible from Highway 25 (a main thoroughfare) which sees which sees 36,000 cars per day. The five mile population from the site is 52,893 while the one mile average household income is $115,740 per year, making this location ideal for a Firestone. The area is experience great growth with the one mile population growth rate at 4.28%. 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
• Jackson MSA
• Five (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $115,740
• Five Mile Population 52,893 | Expected 3.48% Growth
• One Mile Population Growth Rate 4.28%
• 36,000 Cars Per Day on Highway 25
• 7 Miles From Jackson-Medgar Wiley Evers Int’l Airport
• Site Surrounded by National Retailers

Instate Broker of Record: Mathew Laborde | Elifin | License # 21862