49950 Grand River Ave
Wixom, MI 48393
Firestone Complete Auto Care · Retail Property For Sale

Fortis Net Lease is pleased to present this 6,116 SF. Firestone Complete Auto Care (Bridgestone Retail Operations, LLC) located in Wixom, Michigan. The property is encumbered with a Fifteen (15) Year NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years & contains 4 (5) Yr. Options to renew, each with a 5% rental rate increase. The store is open and started paying rent in January 2020. This Firestone store is highly visible as it is strategically positioned near the I-96 express way (125,002 cars per day) on Grand River Avenue which sees 30,668 cars per day. The five mile population from the site is 99,158 while the 5 mile average household income is $107,604 per year, making this location ideal for a Firestone. The area is experiencing great growth with the one mile population growth rate at 4.49%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Firestone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a 5.00% cap rate based on NOI of $161,298.