Firestone – Kissimmee, FL
Fortis Net Lease is pleased to present this 6,578 SF. Firestone Complete Auto Care store located in Kissimmee, Florida. This property is secured 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 at each of the five (5 year) options to renew. The store is under construction with rent start and opening on track for July 2024.
This Firestone store is highly visible as it is strategically positioned on the corner of Myers Road & Simpson Road seeing 30,000 cars per day, near the signalized intersection of E Osceola Parkway which sees 16,300 cars per day. It is adjacent to a Walmart Neighborhood Market which performs in the top 14% of all grocers in the country! The site is less than a 30 minute drive to all Disney World Parks! The five mile population from the site is 149,073 while the one mile average household income is $71,619 per year, which is ideal for a Firestone. This area is also experiencing great growth with five mile population growth rate at 6.05%. the 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 Increase Every 5 Years
• 2023 BTS Construction | Opening in July 2024
• Adjacent to Walmart Neighborhood Market | Ranks in the Top 14%of all Grocers in the Nation (5,283 / 38,086)
• Near Signalized Corner of E Osceola Parkway (16,300 VPD)
• Corner Location on Myers Rd & Simpson Rd (30,000 VPD)
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $71,619
• Five Mile Population 149,073 | Expected Growth 6.05%
• Less than 30 Minute Drive to all Disney World Parks
• Surrounded by Residential | High Growth Area
• Consumers Spending Within 5 Mile Radius is $1.4 Billion
Instate Broker of Record: Michael Houghton | Oak Realty Advisors