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20110 W Catawba Ave
Cornelius, NC 28031
15-Year Abs. NNN Corporate Goodyear Tire · Retail Property For Sale
Investment Highlights
- Rare 100% Absolute NNN corporate lease (land & building) with Goodyear Tire & Rubber, Inc. – the third largest tire manufacturer in the world
- Corporate guaranty from Goodyear Tire & Rubber Co. (NASDAQ: GT); $2.4B market cap, $250M+ net income, a 127-year-old company
- Below Market Rent, Low Basis Investment: Neighboring parcels are garnering over $70 PSF in base rent
- 28+ Year Operating History & New 15-Year Commitment: Operating since 1998, recently executed a 15-yr lease extension with 2 additional 5-yr options
- Extremely rare 18.75% rent increases every five years, including during both option periods, provides inflation protection for 25 years
- Situated in Cornelius within the Lake Norman submarket: Avg HHI exceeds $135,000 & luxury estates trade as high as $20M+
Property Facts
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,400 SF
Building Class
B
Year Built
1998
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.49 AC
Zoning
HC - Heavy Commercial
Parking
16 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 005-271-18 | Improvements Assessment | $899,500 |
| Land Assessment | $750,100 | Total Assessment | $1,649,600 |
Property Taxes
Parcel Number
005-271-18
Land Assessment
$750,100
Improvements Assessment
$899,500
Total Assessment
$1,649,600
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