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Firestone Complete Auto Care, Cheyenne, WY

Firestone Complete Auto Care

WY, USA

Price $3,784,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof Structure, and Parking Lot
Rental Increases 5% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 6,421 SF
Lot Size 1.00 Acre (43,560 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jack Hinson
Cushman & Wakefield
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Lease backed by Bridgestone Retail Operations, LLC (2,200-unit industry leading operator)
» Bridgestone Retail Operations, LLC is a wholly owned subsidiary of Bridgestone Americas Inc., the world’s largest tire and rubber product manufacturer
» 5% rental increases every five years, providing an excellent hedge against inflation
» Absolute NNN lease requires no landlord management, ideal for an out of area investor
» Upgraded 2020 construction with brick façade and eight auto bays
» Bridgestone/Firestone is Rated “A” by S&P

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING AREA

» Excellent visibility and access to 28,440 vehicles per day directly in front of the property on Dell Range Boulevard
» 83,695 residents within a five-mile radius of the property
» Average household income of $72,118 within a five-mile radius of the property

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to Menard’s and immediately adjacent to Chick-fil-A
» Located on Cheyenne’s primary retail corridor and surrounded by a strong mix of well-established local and national retailers, including Walmart Supercenter, Hobby Lobby, Sam’s Club, McDonald’s, Texas Roadhouse, Panera Bread, Sonic, Kohl’s, Michael’s, Kum & Go, Target, Lowes, and many others
» Minutes from East High School (1,444 students) and Cheyenne VA Medical Center (44 total medical beds and a 50-bed nursing home care unit)
» Less than 5 minutes from Frontier Mall (520,000 SF regional mall – one of only three shopping malls in Wyoming)

WYOMING RANKED #1 MOST TAX-FRIENDLY STATE IN U.S.
» Combined state and local sales tax is the third lowest in the U.S.
» No state income tax, and gas is well below national average


Property Description

SOLD

The property is strategically located on Dell Range Boulevard along Cheyenne’s primary retail corridor with excellent visibility and access to 33,599 vehicles per day at the intersection. The site is located in a densely populated and growing area, with 83,695 residents living within a five-mile radius of the site. Visibility is increased by the property’s central location in a robustly affluent area, with an average household income of
$72,118 within a five-mile radius of the site. With strong underlying real estate fundamentals, the property is posed for long-term success.

The property benefits from its proximity near large employers, retailers, and community hubs. The site is an outparcel to Menard’s and directly adjacent to Chick-fil-A, and surrounded by many national retailers including Walmart Supercenter, Hobby Lobby, Sam’s Club, McDonald’s, Texas Roadhouse, Panera Bread, Sonic, Kohl’s, Michael’s, Target, Lowes, and several others. Moreover, the property is less than five minutes from Frontier Mall (520,000 SF regional mall – one of only three shopping malls in Wyoming). The site is also minutes away from East High School (1,444 students) and Cheyenne VA Medical Center (44 total medical beds and a 50-bed nursing home care unit), increasing traffic to the site.

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