Firestone

Firestone

4833 Commerical Way
Spring Hill, FL

Price: $3,557,000
Cap: 4.75%
NOI: $168,917
Building Size: 5,789 SF
Lot Size: 1.4 AC

Investment Highlights

NEW 15-YEAR CORPORATE NNN LEASE WITH INCREASES
• The subject property has a new 15-year lease guaranteed by Bridgestone Retail Operations, LLC (Corporate).
• The lease is absolute NNN and the tenant is responsible for all taxes, insurance, CAM, roof and structure.
• There are attractive 5% rental increases every 5 years during the initial lease and each of the five, 5-year option periods.

“A” RATED INVESTMENT GRADE TENANT
• The lease is guaranteed by Bridgestone, parent company of Firestone, which is the world’s largest manufacturer of tire and rubber products.
• Bridgestone/Firestone has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector.
• Founded in 1900 Firestone is a wholly-owned subsidiary of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide.
• In 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list.

BRAND NEW BUILD-TO-SUIT
• Brand new 5,789 SF build-to-suit Firestone Complete Auto Care with 8 service bays.
• This store opened in November 2019.

LOCATED ON PRIMARY RETAIL CORRIDOR
• This store is well located on Commercial Way/US Hwy 19 (40,500 VPD), a major north/south thoroughfare running from Tampa to Georgia and offers great visibility and access.
• There are two full access points along the frontage road and additional access points on Hwy 19 both to the north and south of the site.
• This property is located on the primary retail corridor next to Home Depot and across the street from Lowe’s Home Improvement.
• Additional surrounding national retailers include Target, Publix, Goodwill, Walgreens, Outback, CVS, Wendy’s, Staples, IHOP, Dollar Tree, Napa, and More.

TAMPA-ST PETERSBURG-CLEARWATER MSA
• Spring Hill is located within Hernando County, and is part of the Tampa-St Petersburg- Clearwater MSA.
• As of 2015 its population is estimated at 103,197 with an estimated population in the MSA of 3,091,399.
• Spring Hill is home to one of the five Pasco Hernando State College Campuses, offering both bachelor and associate of arts degrees.
• Florida is one of 7 U.S. States that has no State Income Tax.

Don McMinn
OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.







Principle or Broker?