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Auto Service - Gas-Conv

Tires Plus (Bridgestone Corp. Guarantee) | Orlando Suburb near Disney | 15 Yr NNN Lease

45670 US Hwy 27, Davenport, FL 33897

Listing Price: $4,869,000

Cap Rate
5.00%
Tenant Name
Tires Plus
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
6,262
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.87

Investment Overview

"A" Rated Investment Grade Tenant (Bridgestone Retail Operations, LLC)
• Tires Plus was founded in 1976 and is based in Clearwater, FL. Tires Plus was acquired by Bridgestone; today, Tires Plus has more than 5,000 teammates working in 400+ stores in 23 states.
• Tires Plus and Firestone are wholly owned subsidiaries of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide.
• The lease is guaranteed by Bridgestone, parent company of Tires Plus, and is the world’s largest manufacturer of tire and rubber products.
• Bridgestone/Tires Plus has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector.
• In 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list.

15 Year NNN Lease Corporately Guaranteed By Bridgestone
• This new 6,262 SF Tires Plus sits on 1.35 acres and has 7 service bays.
• Subject property has a 15 Year Lease NNN lease corporately guaranteed by Bridgestone Retail Operations, LLC
• 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 property is currently under construction and is scheduled to deliver in April 2024.

High Growth Orlando Suburb Near Walt Disney World
• The subject property is in the city of Davenport, 40 miles southwest of downtown Orlando off Interstate 40 (128,500 VPD) & is only 12 miles away from Walt Disney World.
• The 5 mile population growth for this property is 41.31%.
• Walt Disney World attracts over 58 million visitors annually and employs over 75,000 employees.
• Disney brings $75.2 billion in annual economic impact – along with 463,000 jobs and $5.8 billion in additional state tax revenue.
• Orlando is the Fourth Largest City in Florida and the state’s largest inland city with a population of 287,442.
• The Orlando region ranked first in the nation for job growth for four consecutive years.
• Florida is one of seven states that has no income tax.

Interstate Location In A Growing Industrial & Retail Hub
• This Tires Plus is located in Davenport off Interstate 4 (128,500 VPD) on US Hwy 27 (57,000 VPD).
• The growing amount of manufacturing warehouses and distribution centers is becoming a larger part of Davenport’s industry growth.
• The Tires Plus is positioned directly in front of multiple distribution centers including a recently developed 270,000 SF Amazon sorting facility, MC05. Other nearby distribution centers and manufacturing facilities include Walmart, FedEx, CVS, Best Buy, and more.
• There are several housing developments under construction in the surrounding area such as Marlowe at Ridgeview (125 units), Championsgate (1,450 Homes), Westside Hills (560 Homes), and more.
• Positioned near multiple new retail developments including Champions Crossing, a Publix Anchored Shopping Center.

Investment Highlights

  • 2024 BTS Tires Plus
  • Corporate Lease Guaranteed By Bridgestone
  • Bridgestone Parent Company "A" Investment Grade Credit
  • Interstate Location (131,254 VPD)
  • Growing Orlando Suburb 5 Mile Pop Growth: 41%
  • 15-Year Lease NNN Lease With Increases

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Auto Service - Gas-Conv

Tires Plus (Bridgestone Corp. Guarantee) | Orlando Suburb near Disney | 15 Yr NNN Lease

Listing Price: $4,869,000

Cap Rate
5.00%
Tenant Name
Tires Plus
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
6,262
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.87

Investment Highlights

  • 2024 BTS Tires Plus
  • Corporate Lease Guaranteed By Bridgestone
  • Bridgestone Parent Company "A" Investment Grade Credit
  • Interstate Location (131,254 VPD)
  • Growing Orlando Suburb 5 Mile Pop Growth: 41%
  • 15-Year Lease NNN Lease With Increases

Investment Overview

"A" Rated Investment Grade Tenant (Bridgestone Retail Operations, LLC) • Tires Plus was founded in 1976 and is based in Clearwater, FL. Tires Plus was acquired by Bridgestone; today, Tires Plus has more than 5,000 teammates working in 400+ stores in 23 states. • Tires Plus and Firestone are wholly owned subsidiaries of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide. • The lease is guaranteed by Bridgestone, parent company of Tires Plus, and is the world’s largest manufacturer of tire and rubber products. • Bridgestone/Tires Plus has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector. • In 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list. 15 Year NNN Lease Corporately Guaranteed By Bridgestone • This new 6,262 SF Tires Plus sits on 1.35 acres and has 7 service bays. • Subject property has a 15 Year Lease NNN lease corporately guaranteed by Bridgestone Retail Operations, LLC • 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 property is currently under construction and is scheduled to deliver in April 2024. High Growth Orlando Suburb Near Walt Disney World • The subject property is in the city of Davenport, 40 miles southwest of downtown Orlando off Interstate 40 (128,500 VPD) & is only 12 miles away from Walt Disney World. • The 5 mile population growth for this property is 41.31%. • Walt Disney World attracts over 58 million visitors annually and employs over 75,000 employees. • Disney brings $75.2 billion in annual economic impact – along with 463,000 jobs and $5.8 billion in additional state tax revenue. • Orlando is the Fourth Largest City in Florida and the state’s largest inland city with a population of 287,442. • The Orlando region ranked first in the nation for job growth for four consecutive years. • Florida is one of seven states that has no income tax. Interstate Location In A Growing Industrial & Retail Hub • This Tires Plus is located in Davenport off Interstate 4 (128,500 VPD) on US Hwy 27 (57,000 VPD). • The growing amount of manufacturing warehouses and distribution centers is becoming a larger part of Davenport’s industry growth. • The Tires Plus is positioned directly in front of multiple distribution centers including a recently developed 270,000 SF Amazon sorting facility, MC05. Other nearby distribution centers and manufacturing facilities include Walmart, FedEx, CVS, Best Buy, and more. • There are several housing developments under construction in the surrounding area such as Marlowe at Ridgeview (125 units), Championsgate (1,450 Homes), Westside Hills (560 Homes), and more. • Positioned near multiple new retail developments including Champions Crossing, a Publix Anchored Shopping Center.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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