Tire Kingdom Hallandale Beach, Florida

$2,735,000
Cap Rate: 6.00%
Closed Single-Tenant
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.00%
Price: $2,735,000
Rentable Square Feet: 5,796
Price PSF: $471.88
Annual Rent: $164,135
Land Area: 0.77 Acres
Year Built: 1987
Lease Type: NNN
Lease Term: 30 Years
Option Periods: 1, 5-Year Option
Lease Expiration: 3/31/2021

100 W. Hallandale Beach Blvd
Hallandale Beach, FL 33009

Investment Highlights

  • 30-Year Operating History, Triple Net (NNN) Lease
  • Rental Increase is CPI Every Third Year, at No More Than 9 1/3 Percent
  • Located on Hallandale Beach Blvd. With a Daily Traffic Count of 52,000 Vehicles
  • Less Than 1 Mile from Interstate 95, Daily Traffic Count of Over 262,000 Vehicles
  • Surrounding Retailers Include Publix, Walmart Supercenter, Big Lots and Many More
  • 1.5 miles from Gulfstream Park Racing and Casino, Premier American Horse Racing Venue
  • Corporate Tenant | Corporate Guarantee

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Tire Kingdom located in Hallandale Beach, FL. Tire Kingdom offers a has a triple net (NNN) lease, and 30-year operating history with more than two years remaining. The subject property consists of a 5,796 -square foot, free-standing building, situated on a 0.77-acre parcel. Tire Kingdom offers a corporate tenant with a corporate guarantee. TBC Corporation is one of the nation’s largest vertically integrated marketer of tires for the automotive replacement market with over 1,250 + locations in 41 states, Washington DC, Alberta & British Columbia, Canada.

Tire Kingdom is ideally situated with excellent access and visibility on Hallandale Beach Blvd. which has a daily traffic count of 52,000 vehicles, and is less than one mile from Interstate 95, which has a daily traffic count of more than 262,000 vehicles. Surrounding national retailers include Publix, Walmart Supercenter, Petco, Big Lots, Burlington, Family Dollar, Dollar Tree, Winn Dixie, Panera Bread, Five Guys, Starbucks, Wendy’s, McDonalds, Taco Bell, Bank of America, Wells Fargo and many more.

Hallandale Beach is in South Florida, part of Broward County which is home to more than 1.9 Million People. Tire Kingdom is minutes from some of the area’s top attractions and only 1.5 miles from Gulfstream Park Racing and Casino, one of the most important venues for horse racing in America.

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