FIRESTONE COMPLETE AUTO CARE | ALLEN, TEXAS



INVESTMENT SUMMARY

Purchase Price
$3,987,649

Location
802 S Greenville Ave

Cap Rate
5.40%

Annual Rent
$215,333.04

Building Size
6,546 SF

Land Area
1.08 Acres

Ownership
Fee Simple

Lease Type
NNN

Term Remainning
9.5 Years

LEASE EXPIRATION
01/31/2035

Renewal Options

RENT INCREASES
5% Every 5 Years

Parking
27 Spaces

Year Built
2020

APN
R430700A00501

Traffic Counts
28,259 VPD
INVESTMENT HIGHLIGHTS
FIRESTONE CORPORATE LEASE:
- 9.5 Years of Guaranteed Lease Term Remaining (Lease Exp: January 2035)
- 5% Rent Increases Every 5 Years During Initial Term & Extension Periods (Next Increase = January 2030)
- Five (5) - Five (5) Year Extension Periods
2020 CONSTRUCTION:
- 6,546 Building on 1.08 Acre Parcel
- High Quality Construction - Brick, CMU, and EIFS Stucco
- Newest Building Prototype - 8 Service Bays & Retail/Showroom Area
ABSOLUTE NNN LEASE:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Pays Property Taxes Directly to Taxing Authority
KALAHARI RESORTS EXPANSION:
- Proposed Kalahari Location in Allen Would Include: 1.2 Million Square Feet of Resort & Convention Space, Including at Least 900 Guest Rooms, an Indoor and Outdoor Water Park, a 165,000 Square Foot Convention Center and Family Entertainment Center/Arcade
- A Resort of This Size Would Employ Up to 1,000 People and Is Expected to Include an Investment Approaching $1 Billion
- A Feasibility Study Estimates the Project Would Generate More than $5 Billion Dollars in Direct and Indirect Spending During Its First 10 Years of Operation in Allen
- The Economic Incentive Agreement Reached With the City Requires the Project to Be Operational by 2033 but the Resort Could Open as Soon as 2030
PROXIMITY FROM ALLEN, TEXAS:
- Plano, TX | 5 Miles
- McKinney, TX | 10 Miles
- Frisco, TX | 14 Miles
- Dallas, TX | 24 Miles
- Arlington, TX | 44 Miles
- Fort Worth, TX | 54 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile: 13,865 Residents | $126,388 Average Household Income
- 3-Mile: 114,833 Residents | $153,937 Average Household Income
- 5-Mile: 292,408 Residents | $162,964 Average Household Income
- 7-Mile: 563,399 Residents | $168,396 Average Household Income
- 10-Mile: 1.04M Residents | $166,292 Average Household Income
TENANT:
- Bridgestone Retail Operations, LLC
- Operates 2,200+ Locations with $4.6 Billion in Revenue
- Investment Grade Credit Tenant with "A" Rating by S&P