Goodyear Auto Service
Proven Goodyear Auto Service Site Offering Predictable Cash Flow and Corporate‑Backed Stability
Marketing description
North Star Brokerage & Advisory is pleased to exclusively offer for sale the fee simple interest in a single-tenant Goodyear Auto Service property secured by a corporate-backed net lease and located at 7991 US Highway 51 North in Millington, Tennessee. The tenant has operated continuously at this location for over 35 years, demonstrating exceptional site viability and long-term commitment to the market. The property is currently leased through September 2029 with approximately five years of remaining term and features built-in rent growth through a contractual extension option. The net lease structure provides investors with predictable, passive income supported by a nationally recognized credit tenant in the Memphis MSA.
Note: Tenant does not report store-level sales.
ACCESS TO DILIGENCE: To access the due diligence materials for this property, please complete our short NDA form using the link below. Once submitted, you will automatically receive a link to our secure deal room where you can view and download all available documents - NDA - Goodyear
HOW TO PARTICIPATE:
● Inquiries should be made by contacting Landan Dory at [email protected]
● DO NOT show up to the property unannounced.
● DO NOT speak to staff, tenants or owners without written consent from Broker.
● All offers must be submitted in a Letter of Intent format with proof of funds and/or letter from a lender.
● Please review all diligence materials prior to contacting an agent.
Bird Dogs: Please note that due to a massive influx of "bird dog" inquiries, we are limiting our responses to only those who are able to provide proof of funds and a statement of real estate owned. We also require that any communications with the team directly include the principal buyer. We are making every effort to update our marketing materials with the seller's preferences up front, so please do not reach out simply asking if the owner is open to creative financing. Review the marketing materials first. If you can accommodate these simple requirements, we'd be happy to schedule a one-on-one meeting with our brokerage team to discuss this opportunity further.
Investment highlights
- Long-Term Operating History - The property has been continuously operated as a Goodyear Auto Service location since the building’s construction in 1989, demonstrating exceptional site longevity, consistent consumer demand, and operational permanence for automotive service use.
- Corporate-Guaranteed Income Stream - The lease is guaranteed by The Goodyear Tire & Rubber Company, a nationally recognized automotive brand with decades of operating history, providing investors with corporate-level credit support rather than franchise or local operator risk.
- Approximately Five Years of Remaining Lease Term - The property benefits from approximately five years of remaining lease term at the current rental rate, offering near-term income stability while positioning the asset for a defined future decision point. Built-In Rent Growth via Extension Option The remaining five-year renewal option includes a contractual rent increase to $6,249 per month, providing embedded income growth and the ability to extend the income stream through 2034 without re-tenanting risk.
- Net Lease Structure with Predictable Cash Flow - The net lease structure minimizes management intensity and expense exposure. While roof and structural responsibilities remain with the landlord, this allocation is transparent and commonly underwritten by net-lease investors.
- Strong Retail Corridor within the Memphis MSA - Situated along U.S. Highway 51 in Millington, the property benefits from daily traffic exposure, proximity to national retailers, and adjacency to Naval Support Activity Mid-South, a major regional employment anchor within the greater Memphis metropolitan area.
- Clean Environmental Profile - A completed Phase I Environmental Site Assessment identified no recognized environmental conditions, supporting lender confidence, reducing buyer uncertainty, and enhancing overall marketability and liquidit
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