Colliers Net Lease Investment Group is pleased to offer the opportunity to purchase a long operating GoodYear Tire truck service location in Belleville, Michigan with the potential for a value add play.
The tenant has been in possession of the building since 1989. The current lease runs through April 30, 2026 and is guaranteed by Goodyear Tire and its affiliate. The tenant has renewed the lease multiple times, the last extension being 2014. There have been nearly $500,000 of renovations since then including extensive roof repair, upgraded plumbing and more. This is a passive investment, with Landlord responsible for roof and structure only.
There are no remaining options.
This property is located in a prime industrial corridor and sits across the highway from a large Visteon facility. The location is strategic for the groups it services.
The property is offered at $2,150,000 which translates to a 7.76% cap rate.