Firestone – Port Charlotte, FL

$4,099,462
Price
N/A
Noi
Market
Cap Rate
5,988
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 5,988 SF. Firestone Complete Auto Care store located in Port Charlotte, Florida. 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 completing construction with rent commencing in November 2020.

This Firestone store is highly visible as it is strategically positioned on Cochran Blvd which sees which sees 16,900 cars per day near Tamiami Trail which sees 60,469 cars per day. Situated next to the site are major retailers Kohls, Home Depot and PetSmart. The five mile population from the site is 90,512 while the three mile average household income is $59,473 per year, making this location ideal for a Firestone. The area is rapidly growing with the one mile population growth rate at 8.68%. 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 | 2020 BTS Construction
• Adjacent to Kohls, Home Depot & PetSmart
• Within 1 Mile of Walmart, Target & Port Charlotte Town Center
• Five (5 Year) Options | 5% Rental Increase At Each Option
• Three Mile Household Income $59,473
• One Mile Population Growth Rate 8.68%
• Five Mile Population 90,512 | Expected 8.03% Growth
• 16,900 Cars Per Day on Cochran Boulevard
• 60,469 Cars Per Day on Tamiami Trail
• 25,500 Cars Per Day on Veterans Boulevard

Instate Broker of Record: Michael Houghton | Oak Realty Advisors