Investment Offering
Avon, CT - Firestone
225 W Main Street | Avon, CT 06001
$4,000,000
Price5%
Cap Rate$199,941
NOI2023
Year Built6,222
± SF Offering GLA2.16
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate signed, investment-grade (S&P: A) Firestone investment property located in Avon, Connecticut. The tenant, Bridgestone Retail Operations, LLC, recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is signed by a subsidiary of the corporate entity, Bridgestone Corporation (OTCMKTS: BRDCY | S&P: A), and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1926, Firestone is a well-known and established brand with more than 1,700 locations.
Location
The subject property is strategically located along W. Main Street, a major retail and commuter thoroughfare serving 24,800 vehicles per day. The site benefits from excellent visibility via significant street frontage. The newly-constructed building will feature a state-of-the-art design using high-quality materials. In addition, the asset is ideally situated next to a Walmart anchored Center in the heart of a dense retail corridor serving the town of Avon. Other nearby national/credit tenants including Chase Bank, Marshalls, CVS Pharmacy, Whole Foods, Stop & Shop, Walgreens, HomeGoods, Advance Auto Parts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by approximately 58,000 residents and 29,500 employees, providing a direct consumer base from which to draw. Residents within 3 miles of the subject property boast an affluent average household income of $188,974.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226