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Goodyear, Hunstville, AL

Goodyear

AL, United States

Price $4,527,500
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 7.5% Rental Increases Every 5 Years in Initial Term and 9% Rental Increases in Options
Year Built Q4 2015
Building Size 5,965 sq. ft.
Lot Size 0.944 Acres (41,121 sq. ft.)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

15-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES
» Leased to Goodyear Tire & Rubber Company for 15 years, plus four five-year options
» 7.5% rental increases every five years in initial term and 9% rental increases in options
» Scheduled rent increases provide a hedge against inflation
» Net-lease requires minimal landlord management
HIGH-TRAFFIC LOCATION IN PRIME RETAIL CORRIDOR
» Located at signalized hard corner, with access and visibility to 58,270 vehicles per day on U.S. 72
» Outparcel to multi-tenant retail center anchored by Kroger
» Close proximity to several major shopping centers and big box retailers

CLOSE PROXIMITY TO MAJOR EDUCATION AND EMPLOYMENT CENTERS
» Less than two miles from Cummings Research Park, with nearly 300 different companies and 30,000 employees
» Near Redstone Arsenal and Marshall Space Flight Center, the two largest employers in the region
» Close to University of Alabama in Huntsville, the largest university in the greater Huntsville area

BRAND NEW CONSTRUCTION
» High-quality construction completed in Q4 2015
» Features latest Goodyear store designs and concepts
» Brand new construction, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at a signalized hard corner on U.S. 72, with excellent access and visibility to 58,270 vehicles per day. U.S. 72 is a major commercial thoroughfare through western Huntsville that includes a number of shopping centers, hotels, fast food locations, and other businesses, including two movie theaters. Located in a prime retail corridor, the site is outparcel to a multi-tenant shopping center anchored by Kroger. Several major retail centers are located near the property; tenants in the area include Academy Sports + Outdoors, Kohl’s, Home Depot, Super Target, Walmart Supercenter, and many others.

The property benefits from its close proximity to the largest employers in the Huntsville area. The site is located in the West University area, a vital primary access route from the western subdivisions and the cities of Madison and Athens into the Cummings Research Park, Redstone Arsenal, and Marshall Space Flight Center employment centers. Together, Redstone Arsenal, Cummings Research Park, and Marshall Space Flight Center employ approximately 71,500 people. Additionally, the University of Alabama in Huntsville is also near the property. The college is the largest university serving the greater Huntsville area, with over 7,800 students and 1,660 staff members.

Contact Us About This Property

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