30 Bahia Avenue Ln - Auto Repair FOR SALE


Ocala, FL 34472
$4,672,000 USD
678-808-2762
30 Bahia Avenue Ln, Ocala, FL for Sale
$4,672,000 USD
Auto Repair - FOR SALE
1/3
null | 5.15% Cap Rate

30 Bahia Avenue Ln
Ocala, FL 34472


OVERVIEW

“A” RATED INVESTMENT GRADE TENANT (BRIDGESTONE RETAIL OPERATIONS, LLC) • The lease is guaranteed by Bridgestone, parent company of Firestone, which is the world’s largest manufacturer of tire and rubber products. • Bridgestone/Firestone has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector. • Founded in 1900 Firestone is a wholly owned subsidiary of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide. • In 2023, Bridgestone (NYSE: BRDCY) had revenue in excess of $28.7 billion and ranked #250 on the Fortune 500 list. ATTRACTIVE OCALA, FL LOCATION | TAX FREE STATE • The subject property is located on Highway 464 (14,900 VPD) which connects this property to downtown Ocala which is only 10 miles northwest of this Firestone. • Ocala is about an hour northwest of Orlando and has an MSA population of 331,298 that has seen a 4% growth rate since 2010. • According to the Ocala Metro Chamber & Economic Partnership, the Ocala metro area has one of the fastest growing economies and highest annual wage growth in the nation. • Major companies now calling Ocala home include FedEx and AutoZone, and industries such as logistics and manufacturing are seeing explosive growth. ADJACENT TO A PUBLIX ANCHORED SHOPPING CENTER & A WALMART SUPERCENTER • This Firestone is strategically located on Highway 464 (14,900 VPD) adjacent to a 400,000 square foot Publix Anchored Shopping Center and a Walmart Supercenter • New retail development next to this Firestone include ALDI, 7-Eleven, Caliber Car Wash, Wendy’s, Take 5 Oil Change, Dollar Tree, and a Florida Credit Union. • There is a future Popshelf (Dollar General Brand) proposed for the lot in between this Firestone and the Wendy’s. • Additional surrounding national retailers include McDonald’s, Taco Bell, Advance Auto Parts, CVS, Walgreens, and more. • There are more than 4,300 homes in the Silver Springs Shores Community with 60 new homes under construction 1 mile away from this Firestone. 15 YEAR NNN LEASE WITH INCREASES CORPORATELY GUARANTEED BY BRIDGESTONE • This new 6,723 SF Firestone sits on 1.34 acres and has 7 service bays. • Subject property has a 15 Year NNN lease corporately guaranteed by Bridgestone Retail Operations, LL • 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 rent is scheduled to commence in June 2024

FOR SALE DETAILS

PRICE

$4,672,000 USD

PRICE/SF

$695 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Firestone | Adjacent to Publix & Walmart

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.34 AC

LAND SF

58,370 SF

ZONING

B4

APN/PARCEL ID

37491-103-02

ASK ABOUT THIS PROPERTY

Don McMinnMarcus & MillichapMore Info
678-808-2762

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Don McMinnMarcus & MillichapMore Info
678-808-2762

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.