Tire Kingdom – Apopka, FL

Investment Offering – $3,234,780

1631 U.S. Route 441 | Apopka, FL 32712

NOI: $169,826 Cap Rate: 5.25%
Lease Term: 25 Remaining Term: 19.5
Lease Type: NNN Building Sq. Ft.: 6,980
Renewal Options: Three (3), Five (5) Year Options

PROPERTY HIGHLIGHTS

  • Absolute Triple Net Lease Structure provides for a passive, management free income stream
  • Long-Term Lease with over 19.5 years remaining on original 25-year base lease term
  • Cumulative capped CPI based Rent Increases every 5 years (max 12%) provide for a growing income stream and a hedge against inflation
  • Strong Credit Tenant, Lease Guarantor, TBC Corporation ($3.2 Billion in sales), is one of the nation’s largest vertically integrated marketers of tires which dominates both retail and wholesale sectors of the market. TBC Corporation, which consists of company-operated retail stores under various brands; NTB, Tire Kingdom, Merchant’s Tire and Auto Centers and Big O Tire stores. Together, the company operates more than 1,200 locations in 42 states. This lease also carries a separate guarantee with parent company Sumitomo Corporation of America rated ‘A-’ by Standard & Poor’s.
  • The tenant’s industry has a strong positive long-term growth forecast.
  • Excellent location with approximately 91,000 people within 5 miles with average household income levels of $77,000. Expected growth is 10% plus over next 5 years in this area.
  • Situated as the only outparcel to Lowe’s Home Improvement store and along W Orange Blossom Trail that has approximately 38,000 VPD
  • The property has excellent visibility and access.

CONTACT US

PAUL TRUPIA III
P: 646.791.0818
paul@kentwoodcapital.com

ED BRESLIN
P: 310.774.3790
ebreslin@kentwoodcapital.com

OFFERING
MEMORANDUM

To download the offering memorandum, please enter your name, email address and indicate whether you are a Buyer or Broker:

1,566 Comments