Cape Coral, FL - Discount Tire

Description:

• The tenant, Discount Tire, recently signed a brand new 20-year lease with 7 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years, generating NOI and hedging against inflation
• Discount Tire is America’s largest independent tire and wheel retailer, with 25,000 employees, over 1,200 stores in 39 states, and annual revenue of
$5.2 billion
• Below Market Rent ($17.80 PSF)
• Established Brand (1,200+ Units)

• The site is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Home Depot, Target, Publix, Culver’s, Walmart Supercenter, Kohl’s, Aldi’s, Lowe’s, and many more
• Home Depot ranks in the top 98th percentile in visits (FL & US per placer.ai)
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The asset is in close proximity to Cape Coral High School (1,887 students), Caloosa Elementary School (972 students), and Cape Coral Hospital (308 beds), further increasing consumer traffic to the immediate trade area