Firestone – Dickson, TN

$3,767,460
Price
$188,373
Noi
5.0%
Cap Rate
6,116
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 6,116 SF. Firestone store located in Dickson, 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 on Highway 46 which sees 29,530 cars per day. The five mile population from the site is 23,034 while the one mile average household income is $41,041 per year, making this location ideal for a Firestone. The area is experiencing great growth with the one mile population growth rate at 11.76%. 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 5.25% average cap rate based on NOI of $188,373.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increases Every 5 Years
• Brand New Construction
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $41,041
• Five Mile Population 23,034 with Expected 6.71% Growth
• One Mile Population Growth Rate 11.76%
• 29,530 Cars Per Day on Highway 46
• Nashville MSA
• Surrounded by National Retailers

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