Retail

Goodyear - Memphis, TN

6551 Winchester Road, Memphis, TN, 38115, US

Goodyear - Memphis, TN_Property for Sale

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Goodyear - Memphis, TN 2_Property for Sale

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a Goodyear Tire & Service Center (the “Property” or “Asset”) located approximately 20 miles southeast of downtown Memphis in Memphis, Tennessee. The subject property is leased to The Goodyear Tire & Rubber Company, currently ranked the fourth largest tire manufacturer in the world with a “BB-” credit rating and “Stable” outlook from Standard and Poor’s.


Goodyear recently signed a 10-year lease extension, demonstrating long-term commitment to the site that is located one mile west of Highway-385 (132K VPD) and directly along Winchester Road (33K VPD) within a highly trafficked and dense retail corridor of Memphis.


This offering presents the unique opportunity to acquire a long-term and passive investment leased to a nationally recognized tenant in one of the most highly sought-after states in the county.

Attributes

Asking Price
CHF 658,000
Building area Gross
498 m²
Occupancy
100.00%
Year built
1985
Cap Rate
5.00%
NOI
CHF 33,000

Investment Highlights

  • Features a NN lease with over 10.5 years remaining
  • Goodyear recently executed a 10-year extension demonstrating long-term site commitment
  • Located one mile west of Highway-385 within dense retail corridor
  • Business friendly right-to-work state with no personal income tax
  • Includes industry leading + nationally recognized tenancy
  • Below market rent with high renewal probability

BOR: Tom Hooper License: TN#283775

Goodyear - Memphis, TN 4_Property for Sale
Goodyear - Memphis, TN 4_Property for Sale

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Last updated
30 Nov 2022