Investment Highlights
- 5-Year, Double Net (NN) Lease Commencing in June 2021
- Long-Term Tenant in Place Since 1966, Showing a Strong Commitment to the Site
- Two, Five-Year Renewal Options With Five Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
- Goodyear Tire & Rubber Company (NASDAQ: GT) is a Corporate Fortune 500 Tenant
- Located on Hollywood Boulevard With a Daily Traffic Count of Approx. 55,500 Vehicles. Directly off Interstate 95 Which has a Daily Traffic Count of More Than 223,000 Vehicles.
- Population in the Area is Over 400,000 Within a Five-Mile Radius of the Subject Property. Part of the Broward County MSA – Between Fort Lauderdale, 10 Miles North; and Miami, 20 Miles South
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Goodyear Auto Service in Hollywood, Florida. This listing offers a five-year, double net (NN) lease commencing in June 2021. There are two, five-year tenant renewal options with five percent rent increases every five years throughout base term and option periods. This Goodyear is a long-term tenant and has been in place since 1966, showing a strong commitment to the site. Goodyear Tire & Rubber Company is a corporate Fortune 500 tenant.
The Subject Property is in a prime South Florida location with exceptional demographics and traffic counts. Located on Hollywood Boulevard with a daily traffic count of approximately 55,500 vehicles, and directly off Interstate 95 with more than 223,000 vehicles per day. The population in the area is over 400,000 within a five-mile radius of this Goodyear. This Property is less than seven miles from Fort Lauderdale-Hollywood International Airport.
Surrounding national retailers include Publix, Target, Harbor Freight Tools, Orange Theory Fitness, Walgreens, CVS, Bank of America, Wells Fargo, Wendy’s, McDonald’s, Taco Bell, Twin Peaks, Cricket Wireless, AT&T, Cold Stone Creamery, The UPS Store, Fresenius Medical Care, Starbucks and many more. The Subject Property is one mile from Orangebrook Golf & Country Club, a historic 36-hole championship golf course, and two miles from Joe DiMaggio Children’s Hospital at Memorial. One of the major tourist destinations in Hollywood is the Hollywood Beach Boardwalk which was named one of America’s best beach boardwalks by Travel + Leisure Magazine, and is only 3.5 miles from Goodyear.
Located in Hollywood, FL and part of the Broward County MSA, the property is conveniently located between Fort Lauderdale, 10 miles North, and Miami, 20 miles South. Broward County contains a total population of 1.9 million people. Since 2000, the county’s population has increased by roughly 268,400 residents. Companies are attracted to the Metro for its tax structure, proximity to Latin American markets, large-educated workforce, and desirable climate.