2023 BTS Firestone Complete Auto Care | Orlando MSA | Walmart Anchored & Rent Increases! | FOR SALE

2849 Myers Road, Kissimmee, FL

$4,624,320

Price

5%

Cap Rate

6,578 sqft

Building Size

Gallery
Street
Map
Overview
Cap Rate
5%
Building Size
6,578 sqft
Lot Area
1.12 acres
Occupancy
100%
Lease Type
Absolute Net
Year Built
2023
Price Per Sqft
$703
Zoning
Commercial
Number of Tenants
1
Traffic Count #1
16,300 on Osceola Parkway
Traffic Count #2
30,000 on Simpson
Roof Type
Flat
HVAC
Roof Mounted
Construction Style
Commercial
Lease Expire Year
6/30/2039
Description

Fortis Net Lease is pleased to present this 6,578 SF. Firestone Complete Auto Care store located in Kissimmee, Florida. This property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years during the primary term and at each of the five (5 year) options to renew. The store is under construction with rent start and opening on track for July.

This Firestone store is highly visible as it is strategically positioned on the corner of Myers Road & Simpson Road seeing 30,000 cars per day, near the signalized intersection of E Osceola Parkway which sees 16,300 cars per day. It is adjacent to a Walmart Neighborhood Market which performs in the top 14% of all grocers in the country! The site is less than a 30 minute drive to all Disney World Parks! The five mile population from the site is 149,073 while the one mile average household income is $71,619 per year, which is ideal for a Firestone. This area is also experiencing great growth with five mile population growth rate at 6.05%. the The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Firestone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a cap rate of 5.00% based on NOI of $231,216.

Highlights
  • Absolute NNN 15 year lease | Zero landlord responsibilities
  • 5% rental rate increase every 5 years
  • 2023 BTS construction | Opening in July
  • Adjacent to Walmart neighborhood market | Ranks in the top 14% of all grocers in the Nation (5,283 / 38,086)
  • Near signalized corner of E Osceola Parkway (16,300 VPD)
  • Corner location on Myers Rd & Simpson Rd (30,000 VPD)
  • 5 (5 year) options | 5% rental increase at each option
  • One mile household income $71,619
  • Five mile population 149,073 | Expected growth 6.05%
  • Less than 30 minute drive to all Disney World Parks
  • Surrounded by residential | High growth area
  • Consumers spending within 5 mile radius is $1.4 billion
Documents
Title
Firestone_-_FL_-_Kissimmee.pdf
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Location
Gallery