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Tire Kingdom | Corporate Guaranteed NNN | JAX FL

10755 Philips Hwy, Jacksonville, FL 32256

Listing Price: $2,130,219

Cap Rate
6.80%
Tenant Name
Tire Kingdom
Years Remaining On Lease
1.2
Gross SF
6,720
Guarantor
Corporate Guarantee
Rentable SF
6,720
Price/Gross SF
$317.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.56

Investment Overview

Marcus & Millichap is pleased to present this Tire Kingdom located at
10755 Philips Highway, Jacksonville, Florida.
The property consists of a 6,720 square foot free-standing retail
structure and is situated on a .98 acre parcel. Located within the Butler/
Baymeadows submarket of Jacksonville, the property benefits from
desirable and strong demographics, with a population of 115,818 and
an average household income of $91,501 within a five mile radius.
Strategically located on Highway US-1 less than one mile from the
intersection of Interstate-95 and Intersate-295, the property experiences
traffic counts of over 39,000 vehicles per day. The numerous surrounding
car dealerships, rental agencies, and auto service shops, create an
automotive retail corridor with synergy in the consumer market, making
this location ideal for Tire Kingdom.
The Butler/Baymeadows submarkets strength is made evident by the
annual consumer spending above $4.5 Billion within a 5-mile radius
of the property. Consumer household spending on transportation and
maintenance within a 5-mile radius is $372 million, making it the secondlargest
category behind food and alcohol. Numerous national retailers
in the immediate trade area include Walmart Supercenter, Home Depot,
Best Buy, McDonalds, Starbucks, Chick-fil-A, The Avenues Shopping
Mall, Ford, Nissan, Chevrolet, Volvo, Enterprise, and many others.
This build to suit 8-bay Tire Kingdom is a well-established location with
over 19 years of operation since opening in 2002. As a demonstration
of the tenants commitment, during their 2nd Option Period in 2017,
Tire Kingdom amended a third 5-Year Lease Option with a two percent
annual rent increase.
Tire Kingdom is a large American tire store chain located primarily in
the southern part of the United States. In the year 2000, it became a
subsidiary of TBC Corporation. TBC is headquartered in Palm Beach
Gardens, Florida and it owns Tire Kingdom with 180 plus locations,
NTB with 450 plus locations, Tire America, Big O Tires with 440 plus
locations, and Midas with 2,100 locations.

Investment Highlights

  • TBC Corporate Guarantee NNN Lease | 180+ Tire Kingdom Stores and 450 NTB Stores
  • Established Build to Suit Location with 19 Years of Operation
  • Close Proximity to Interstate-295 and Interstate-95
  • Annual Consumer Spending of $4.5+ Billion within 5-mile a Radius
  • High Traffic Location Visible to 39K+ Vehicles per Day
  • Absolute Net Lease | No Landlord Responsibilities

Exclusively Listed By

Auto Parts

Tire Kingdom | Corporate Guaranteed NNN | JAX FL

Listing Price: $2,130,219

Cap Rate
6.80%
Tenant Name
Tire Kingdom
Years Remaining On Lease
1.2
Gross SF
6,720
Guarantor
Corporate Guarantee
Rentable SF
6,720
Price/Gross SF
$317.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.56

Investment Highlights

  • TBC Corporate Guarantee NNN Lease | 180+ Tire Kingdom Stores and 450 NTB Stores
  • Established Build to Suit Location with 19 Years of Operation
  • Close Proximity to Interstate-295 and Interstate-95
  • Annual Consumer Spending of $4.5+ Billion within 5-mile a Radius
  • High Traffic Location Visible to 39K+ Vehicles per Day
  • Absolute Net Lease | No Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present this Tire Kingdom located at
10755 Philips Highway, Jacksonville, Florida.
The property consists of a 6,720 square foot free-standing retail
structure and is situated on a .98 acre parcel. Located within the Butler/
Baymeadows submarket of Jacksonville, the property benefits from
desirable and strong demographics, with a population of 115,818 and
an average household income of $91,501 within a five mile radius.
Strategically located on Highway US-1 less than one mile from the
intersection of Interstate-95 and Intersate-295, the property experiences
traffic counts of over 39,000 vehicles per day. The numerous surrounding
car dealerships, rental agencies, and auto service shops, create an
automotive retail corridor with synergy in the consumer market, making
this location ideal for Tire Kingdom.
The Butler/Baymeadows submarkets strength is made evident by the
annual consumer spending above $4.5 Billion within a 5-mile radius
of the property. Consumer household spending on transportation and
maintenance within a 5-mile radius is $372 million, making it the secondlargest
category behind food and alcohol. Numerous national retailers
in the immediate trade area include Walmart Supercenter, Home Depot,
Best Buy, McDonalds, Starbucks, Chick-fil-A, The Avenues Shopping
Mall, Ford, Nissan, Chevrolet, Volvo, Enterprise, and many others.
This build to suit 8-bay Tire Kingdom is a well-established location with
over 19 years of operation since opening in 2002. As a demonstration
of the tenants commitment, during their 2nd Option Period in 2017,
Tire Kingdom amended a third 5-Year Lease Option with a two percent
annual rent increase.
Tire Kingdom is a large American tire store chain located primarily in
the southern part of the United States. In the year 2000, it became a
subsidiary of TBC Corporation. TBC is headquartered in Palm Beach
Gardens, Florida and it owns Tire Kingdom with 180 plus locations,
NTB with 450 plus locations, Tire America, Big O Tires with 440 plus
locations, and Midas with 2,100 locations.

Exclusively Listed By

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