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2400 Patriot Run 6,116 SF Retail Building Owensboro, KY 42303 $3,450,000 ($564.09/SF) 5.48% Cap Rate
Investment Highlights
- 9.5 -Yr Term on 15 Yr Lease (11-30-2035) - Five Percent Bumps per Five Years
- Absolute NNN Lease - No Landlord Obligations - Five x Five Year Options
- Off Major Interchange of Hwy 60 & Hwy 54 (Leitchfield Rd.)
- Full Corporate Guarantee - Bridgestone Retail Operations, LLC - S&P = "A" Rating
- Out lot to Meijer's & Menards
- NOI = 188,962 = 5.48 Percent Cap Rate
Executive Summary
Property Overview:
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
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
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,116 SF
Building Class
B
Year Built
2020
Price
$3,450,000
Price Per SF
$564.09
Cap Rate
5.48%
NOI
$188,962
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.37 AC
Zoning
Commercial - Commercial Zoned Property
Frontage
272’ on East Parrish Avenue
Amenities
- Pylon Sign
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Services
- 6,116 SF
- -
- Triple Net
- Nov 2035
Firestone Complete Auto Care began in 1926 as a tire and service business tied to the Firestone brand. The company provides tire sales, oil changes, brake work, batteries, alignments, engine repair, and other maintenance and repair services for drivers who want routine care or more involved fixes. Firestone Complete Auto Care also supports online appointment booking and digital vehicle tools, including service-history tracking and customer offers through a mobile app. The company operates within Bridgestone Retail Operations, alongside other automotive service banners in a broad U.S. retail network.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Services | 6,116 SF | - | Triple Net | Nov 2035 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 003-55-01-010-A0-000 | Improvements Assessment | $2,322,735 |
| Land Assessment | $1,350,000 | Total Assessment | $3,672,735 |
Property Taxes
Parcel Number
003-55-01-010-A0-000
Land Assessment
$1,350,000
Improvements Assessment
$2,322,735
Total Assessment
$3,672,735
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2400 Patriot Run
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