Auto Service - Gas-Conv

Firestone

1482 Stringtown Road, Grove City, OH 43123

Listing Price: $3,217,000

Cap Rate
7.25%
Tenant Name
Firestone
Years Remaining On Lease
3.10
Guarantor
Corporate Guarantee
Rentable SF
7,832
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.80

Investment Overview

Marcus & Millichap is pleased to present for sale Firestone a single-tenant property located at 1482 Stringtown Road, Columbus (Grove City), Ohio 43123. The subject property is comprised of 7,832 square feet built in 2009. The building sits on a large 1.28 Acre lot with frontage on Stringtown Road that oversees 31,100+ Vehicles Per Day. Firestone benefits from a substantial built-in customer base with a population of 580,100+ & 237,900+ households in a 10-mile radius, as well as an average household income of $70,414. Strategically located, Firestone sits in the heart of a major retail corridor in Grove City and just ½ mile from Interstate-71 which oversees 86,500+ vehicles per day. Firestone Tire and Rubber Company is an American tire company founded by Harvey Firestone in 1900. Firestone soon saw the huge potential for marketing tires for automobiles, and the company was a pioneer in the mass production of tires. Harvey Firestone had a personal friendship with Henry Ford and became the original equipment supplier of Ford Motor Company automobiles. Bridgestone was founded in 1931 in Japan and became Japan’s largest tire manufacturer. In 1988 Bridgestone acquired Firestone to transform into the world’s largest tire and rubber company with 2,200 locations, 143,600 employees and $32.9 Billion in Revenue. The operations in the Americas were renamed Bridgestone/Firestone, Inc and Bridgestone Retail Operations, LLC, comprises the entire U.S. retail division of Bridgestone/Firestone. Bridgestone is the ultimate parent company of the tenant. Bridgestone (NYSE: BRDCY) is ranked #365 on the Fortune 500 list and has an A credit rating with S&P and A2 with Moody’s.

Investment Highlights

  • Triple-Net Lease: Current 15 Year Term has 3 Years Remaining with Four, 4 Year Options to Extend and a 6.5% Increase at the beginning of each option.
  • Strong Corporate Guaranty: Publicly Traded (NYSE: BRDCY) Bridgestone Retail Operations, LLC Has More than 2,200 Tire & Vehicle Service Centers Across the United States.
  • Excellent Access / Visibility: Firestone has Frontage on Stringtown Road Which Oversees 31,100+ Vehicles Per Day. Stringtown Road Connects to Interstate-71 just 1/2 Mile from Firestone.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

Listing Price: $3,217,000

Cap Rate
7.25%
Tenant Name
Firestone
Years Remaining On Lease
3.10
Guarantor
Corporate Guarantee
Rentable SF
7,832
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.80

Investment Highlights

  • Triple-Net Lease: Current 15 Year Term has 3 Years Remaining with Four, 4 Year Options to Extend and a 6.5% Increase at the beginning of each option.
  • Strong Corporate Guaranty: Publicly Traded (NYSE: BRDCY) Bridgestone Retail Operations, LLC Has More than 2,200 Tire & Vehicle Service Centers Across the United States.
  • Excellent Access / Visibility: Firestone has Frontage on Stringtown Road Which Oversees 31,100+ Vehicles Per Day. Stringtown Road Connects to Interstate-71 just 1/2 Mile from Firestone.

Investment Overview

Marcus & Millichap is pleased to present for sale Firestone a single-tenant property located at 1482 Stringtown Road, Columbus (Grove City), Ohio 43123. The subject property is comprised of 7,832 square feet built in 2009. The building sits on a large 1.28 Acre lot with frontage on Stringtown Road that oversees 31,100+ Vehicles Per Day. Firestone benefits from a substantial built-in customer base with a population of 580,100+ & 237,900+ households in a 10-mile radius, as well as an average household income of $70,414. Strategically located, Firestone sits in the heart of a major retail corridor in Grove City and just ½ mile from Interstate-71 which oversees 86,500+ vehicles per day. Firestone Tire and Rubber Company is an American tire company founded by Harvey Firestone in 1900. Firestone soon saw the huge potential for marketing tires for automobiles, and the company was a pioneer in the mass production of tires. Harvey Firestone had a personal friendship with Henry Ford and became the original equipment supplier of Ford Motor Company automobiles. Bridgestone was founded in 1931 in Japan and became Japan’s largest tire manufacturer. In 1988 Bridgestone acquired Firestone to transform into the world’s largest tire and rubber company with 2,200 locations, 143,600 employees and $32.9 Billion in Revenue. The operations in the Americas were renamed Bridgestone/Firestone, Inc and Bridgestone Retail Operations, LLC, comprises the entire U.S. retail division of Bridgestone/Firestone. Bridgestone is the ultimate parent company of the tenant. Bridgestone (NYSE: BRDCY) is ranked #365 on the Fortune 500 list and has an A credit rating with S&P and A2 with Moody’s.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

MM Texture Background
MM Textured Background Lower