20110 W Catawba Ave - Auto Repair FOR SALE
Cornelius, NC 28031 |
20110 W Catawba Ave
Cornelius, NC 28031
HIGHLIGHTS
- Rare 100% Absolute NNN corporate lease (land & building) with Goodyear Tire & Rubber, Inc. – the third largest tire manufacturer in the world
- 28+ Year Operating History & New 15-Year Commitment: Operating since 1998, recently executed a 15-yr lease extension with 2 additional 5-yr options
- Corporate guaranty from Goodyear Tire & Rubber Co. (NASDAQ: GT); $2.4B market cap, $250M+ net income, a 127-year-old company
- Extremely rare 18.75% rent increases every five years, including during both option periods, provides inflation protection for 25 years
- Below Market Rent, Low Basis Investment: Neighboring parcels are garnering over $70 PSF in base rent
- Situated in Cornelius within the Lake Norman submarket: Avg HHI exceeds $135,000 & luxury estates trade as high as $20M+
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
15-Year Abs. NNN Corporate Goodyear Tire
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
TOTAL BUILDING SIZE
6400
STORIES
1
YEAR BUILT
1998
SPRINKLERS
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PARKING SPACES
16
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
005-271-18
