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29159093
29159092

2400 Patriot Run, Owensboro, KY 42303

DT
IL 471.009921, IN RB14050851 (+1)
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown
$3,450,000
143 days on market
Updated 7 days ago

Firestone Complete Auto Care

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,116
Net Rentable (SqFt) 6,116
Units 1
Cap Rate 5.48%
NOI $188,962
Occupancy 100%
Tenancy Single
Brand/Tenant Firestone
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 11/30/2035
Remaining Term 9.5
Rent Bumps Yes
Lease Options 5 x 5 year - 5.00% bumps
Price per SqFt $564
Class A
Year Built 2020
Buildings 1
Stories 1
Lot Size (SqFt) 59,650
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 11/30/2020
Occupancy Date 11/30/2020
Ground Lease No

Retail | 5.48% CAP | 6,116 SqFt

Marketing description

Firestone Complete Auto Care, located at 2400 Patriot Run in Owensboro, KY, is an absolute net lease investment with 9.5 years remaining on the original 15-year lease, set to expire on November 30, 2035. The property is strategically positioned just off the major interchange of US Route 60 and KY Highway 54, offering excellent visibility and accessibility. It is surrounded by prominent national retailers, including Meijer Supermarket and Menards. Lease & Tenant Information:

The lease is guaranteed by Bridgestone Retail Operations, LLC, a wholly owned subsidiary of Bridgestone Americas. Bridgestone Retail Operations holds strong credit ratings, with an “A” from S&P and an A1 from Moody’s. The lease includes 5% rent escalations every five years. Bridgestone Retail Operations (BSRO) is the world’s largest company-owned auto care and tire store network, operating over 2,200 locations across the United States. Headquartered in Nashville, TN, BSRO generates estimated annual revenue of $222.8 million. Firestone Complete Auto Care is its flagship brand, with more than 1,700 locations nationwide. Other brands under the BSRO umbrella include Tires Plus, Hibdon Tires Plus, and Wheel Works.

Market Overview: Owensboro, KY Owensboro is a vibrant riverfront city located in Daviess County along the southern banks of the Ohio River. With a population of approximately 60,000, it ranks as Kentucky’s fourth-largest city. Known for its rich bluegrass music heritage, legendary barbecue, and welcoming small-town charm, Owensboro serves as a regional hub for commerce, healthcare, and culture. Often referred to as the “BBQ Capital of the World,” Owensboro is famous for its signature mutton barbecue and hosts the annual International BBQ Festival each May, attracting food lovers from across the country. The city is conveniently located about 123 miles north of Nashville, TN, and 109 miles south of Louisville, KY, with access via road, rail, river, and air.

Investment highlights

9.5 -Yr Term on 15 Yr Lease (11-30-2035) - 5% Bumps per 5 Yrs

Out lot to Meijer's & Menards

Absolute NNN Lease - No Landlord Obligations - 5 x 5 Yr options

Full Corporate Guarantee - Bridgestone Retail Operations, LLC - S&P = "A" Rating

Off Major Interchange of Hwy 60 & Hwy 54 (Leitchfield Rd.

Listing Contacts

DT
IL 471.009921, IN RB14050851 (+1)
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$188,962.00
$15,746.83/mo

Valuation Metrics

0
DSCR
5.48%
Cap Rate
5.48%
ROI

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Additional Information

Name
Grant Fitzgerald
License
Lic. #: 286261
Brokerage
Marcus & Millichap
Brokerage Phone
502-329-5900
Title
Broker of Record
Brokerage Address
9300 Shelbyville, #1012, Louisville, KY 40222
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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