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Goodyear Tire: New 10-Yr. Corporate Net Lease 100 E Kennedy St 13,449 SF Retail Building Spartanburg, SC 29306 $1,791,000 ($133.17/SF) 5.50% Cap Rate

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Investment Highlights

Long-Term, Committed Tenant with Newly Executed 10-Year Lease Extension (beginning December 2025)
Prime Corner Parcel: 0.87-acre site at the signalized intersection of S Church Street & E Kennedy Street in the core of downtown Spartanburg
Spartanburg ranked #10 fastest-growing metro in the U.S. (Census Bureau, 2024), #3 Best Southern City (Southern Living)

Long-Term Commitment: Goodyear Tires has operated on-site since 2007 and recently executed a new 10-year lease extension beginning December 2025
Walking distance to major landmarks; Fifth Third Ballpark, Spartanburg County Courthouse, Denny’s Plaza, Spartanburg Community College, and more
Backed by a corporate lease with Goodyear Tire & Rubber Co. (NASDAQ: GT); $2.4B market cap, $250M+ net income (+222% Y/Y), 5.69% net margin (+229% Y/Y

Executive Summary

Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., as exclusive advisors to the seller, are pleased to present the opportunity to acquire a single-tenant net-leased (STNL) Goodyear Tires in Spartanburg, SC (the “Property”). The Property features a long-term commitment, with Goodyear - on site since 2007 - having recently executed a new 10-year lease extension commencing December 2025. Positioned on a prime 0.87-acre corner parcel at the signalized intersection of S Church Street and E Kennedy Street, the Property benefits from a core downtown location within walking distance of major civic, educational, and entertainment landmarks. Spartanburg represents one of the nation’s most dynamic growth markets, ranked the #10 fastest-growing metro in the U.S. (Census Bureau, 2024), the #3 Best Southern City (Southern Living), and #8 nationally for millennial population growth among small metros. The lease is backed by Goodyear Tire & Rubber Co. (NASDAQ: GT), a corporate tenant with a $2.4B market cap, $250M+ net income (+222% year-over-year), and a 5.69% net margin (+229% year-over-year), providing investors with secure, durable cash flow in a booming Southeast market.

Goodyear (Spartanburg, SC) - Flyer

Property Facts Under Contract

Sale Type

Investment

Property Type

Retail

Property Subtype

Auto Repair

Building Size

13,449 SF

Building Class

Year Built

1961

Price

$1,791,000

Price Per SF

$133.17

Cap Rate

5.50%

NOI

$98,500

Tenancy

Single

Building Height

1 Story

Building FAR

0.35

Lot Size

0.87 AC

Zoning

Commercial (NEC)

Parking

29 Spaces (2.16 Spaces per 1,000 SF Leased)

Frontage

226’ on Church St

Corner Lot

Pylon Sign

Signage

Retailer
99,999 SF
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Goodyear is a global tire manufacturer serving consumer, commercial, aviation, and industrial markets. The company was founded in 1898 by Frank Seiberling in Akron, Ohio, and was named after Charles Goodyear, the inventor of vulcanized rubber. Goodyear designs, manufactures, and markets tires for passenger vehicles, commercial trucks, aircraft, motorcycles, and off-road equipment, along with related services and solutions. The company operates manufacturing, research, distribution, and retail facilities across multiple regions worldwide. Goodyear is publicly traded on the Nasdaq under the ticker symbol GT. Over its operating history, the company has been recognized for several industry milestones, including the introduction of the Goodyear Blimp in 1925, which remains a widely recognized corporate symbol, and its long-standing involvement in motorsports and aviation tire supply.