Firestone – Tupelo, MS
Fortis Net Lease is pleased to present this 6,424 SF. Firestone Complete Auto Care store located in Tupelo, Mississippi. This property will offer a brand new 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 including each five (5) year option to renew. The store is currently under construction with rent on-track to commence in September of 2021.
This Firestone store is highly visible as it is strategically positioned on N. Gloster Street which sees 20,884 cars per day. It is adjacent to a Walmart and Sam’s Club center and across the street from Lowes and the Mall at Barnes Crossing – a super regional mall with 90 specialty shops, 5 anchor tenants, an 8-screen Cinemark movie theater, and a 600-seat food court that attracts 13 Million Shoppers per year. Barnes Crossing draws people from far and wide with 70% traveling from over 10 miles away (and 40% traveling over 30 miles). The five mile population from the site is 39,438 while the one mile average household income is $62,869 per year, which is ideal for a Firestone. 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.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increase Every 5 Years
• Brand New Construction | Essential Business
• Adjacent to a Walmart and Sam’s Club Anchored Shopping Center
• Across from Lowes and The Mall at Barnes Crossing with 13 Million Shoppers/year
• 70% of Shoppers Live 10+ Miles From Barnes Crossing (40% Live 30+ Miles)
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $62,869
• Five Mile Population 39,438
• 20,884 Cars Per Day on N. Gloster Street
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.