Firestone
10407 Folsom Boulevard
Rancho Cordova, CA
Property Details
Available
Net Operating
Income
$142,448
Year Built
1971
Lease Term
N/A
Lot Size
0.89 Acres
Building Size
8,000 SQ FT
Lease Structure
NN
Ownership Type
Fee Simple
Options
(3) - 5 Year Options
Investment Details
RECENT EXTENSION
Firestone recently exercised an option to extend the lease accepting a 15% Increase in rent
5.5 YEARS REMAINING INCLUDING MULTIPLE, FIVE (5) YEAR OPTIONS
EXCELLENT INFLATION HEDGE
Above market fixed 15% increases every option – 3x the 5% increases offered in new firestone BTS leases
AFFORDABLE RENTAL RATE
30% below market rent of under $18/sf is believed to be 30-40% below market for auto service centers in the area
CORPORATE LEASE
Bridgestone Carries an A2 Credit Rating ranked by Moody’s
LONG STANDING TRACK RECORD OF PERFORMANCE
This location has served the community for over 50 Years
STRONG RESIDUAL DEMAND FOR AUTO USE PROPERTY
Significant barrier to entry as new conditional use permits allowing auto service use are extremely difficult to obtain
RETAIL NNN LEASE PROPERTY
Landlord has minimal responsibilities limited to exterior elements including roof, structure & parking lot
REPORTED STORE SALES
Strong current and historical sales trends * inquire with broker for details
HEALTHY RENT TO SALES RATIO WELL WITHIN INDUSTRY AVERAGES
HIGH VOLUME CAPACITY WITH 13 SERVICE BAYS
asking price
$ 2,848,960
cap rate
5.00%
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