515 S Dixie Highway
SINGLE TENANT NET LEASE GOOD YEAR TIRE AND SERVICE
Marketing description
This corporate-backed, absolute NNN lease with Goodyear offers investors true hands-off, bond-style income from a globally recognized, investment-grade tenant. The 15-year lease, commencing in 2022, includes six 5-year renewal options with 10% rent increases every five years, providing predictable growth and long-term security. Located on the high-traffic US-1 corridor in Downtown West Palm Beach, the property benefits from excellent visibility, urban infill, and easy access to Okeechobee Blvd and I-95. With zero landlord responsibility, this 5,500 SF building on an 11,731 SF lot delivers stable cash flow and a 25-year horizon of built-in escalations, making it a rare opportunity for investors seeking reliable, long-term income.
Investment highlights
TENANT: The Goodyear Tire & Rubber Company
USE: Tire sales, installation, and related automotive services
LEASE TYPE: Absolute NNN
LEASE TERM: 15 years (commencement 2022)
LEASE ESCALATIONS: 10% increases every five (5) years during the initial term
LEASE OPTIONS: Six (6) five (5)-year options to renew (10% increases at the beginning of each option term)
NOI: $90,750.00
ZONING: QGD-10 (Downtown WPB – Quadrille Garden District)
CORE LOCATION: Downtown West Palm Beach, minutes to The Square, Clematis, Flagler waterfront, and Palm Beach Island
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