Firestone | Adjacent to Publix & Walmart

BACK TO LISTINGS

30 Bahia Avenue Lane
Ocala, FL

Price: $4,672,000

Cap: 5.15%

NOI: $240,603

Building Size: 6,723 SF

Lot Size: 1.34 AC

Investment Highlights

“A” RATED INVESTMENT GRADE TENANT (BRIDGESTONE RETAIL OPERATIONS, LLC)
• 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 2023, Bridgestone (NYSE: BRDCY) had revenue in excess of $28.7 billion and ranked #250 on the Fortune 500 list.

ATTRACTIVE OCALA, FL LOCATION | TAX FREE STATE
• The subject property is located on Highway 464 (14,900 VPD) which connects this property to downtown Ocala which is only 10 miles northwest of this Firestone.
• Ocala is about an hour northwest of Orlando and has an MSA population of 331,298 that has seen a 4% growth rate since 2010.
• According to the Ocala Metro Chamber & Economic Partnership, the Ocala metro area has one of the fastest growing economies and highest annual wage growth in the nation.
• Major companies now calling Ocala home include FedEx and AutoZone, and industries such as logistics and manufacturing are seeing explosive growth.

ADJACENT TO A PUBLIX ANCHORED SHOPPING CENTER & A WALMART SUPERCENTER
• This Firestone is strategically located on Highway 464 (14,900 VPD) adjacent to a 400,000 square foot Publix Anchored Shopping Center and a Walmart Supercenter
• New retail development next to this Firestone include ALDI, 7-Eleven, Caliber Car Wash, Wendy’s, Take 5 Oil Change, Dollar Tree, and a Florida Credit Union.
• There is a future Popshelf (Dollar General Brand) proposed for the lot in between this Firestone and the Wendy’s.
• Additional surrounding national retailers include McDonald’s, Taco Bell, Advance Auto Parts, CVS, Walgreens, and more.
• There are more than 4,300 homes in the Silver Springs Shores Community with 60 new homes under construction 1 mile away from this Firestone.

15 YEAR NNN LEASE WITH INCREASES CORPORATELY GUARANTEED BY BRIDGESTONE
• This new 6,723 SF Firestone sits on 1.34 acres and has 7 service bays.
• Subject property has a 15 Year NNN lease corporately guaranteed by Bridgestone Retail Operations, LL
• 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.
• This store is open and rent commenced in June 2024.

Don McMinn

678-808-2762 | EMAIL >

Andrew Koriwchak

678-808-2816 | EMAIL >

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.

Name

Phone

Email

Principal or Broker?