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SINGLE TENANT NET LEASE GOOD YEAR 515 S Dixie Hwy 5,500 SF Retail Building West Palm Beach, FL 33401 $4,250,000 ($772.73/SF) 2.14% Cap Rate
Investment Highlights
- TENANT: The Goodyear Tire & Rubber Company
- LEASE TYPE: Absolute NNN
- LEASE ESCALATIONS:10% increases every five (5) years during the initial term
- USE: Tire sales, installation, and related automotive services
- LEASE TERM: 15 years (commencement 2022)
- LEASE OPTIONS: Six (6) five (5)-year options to renew (10% increases at the beginning of each option term)
Executive Summary
This corporate-backed, absolute NNN lease with Goodyear offers investors true hands-off, bond-style income from a globally recognized, investment-grade tenant. The 15-year lease, commencing in 2022, includes six 5-year renewal options with 10% rent increases every five years, providing predictable growth and long-term security. Located on the high-traffic US-1 corridor in Downtown West Palm Beach, the property benefits from excellent visibility, urban infill, and easy access to Okeechobee Blvd and I-95. With zero landlord responsibility, this 5,500 SF building on an 11,731 SF lot delivers stable cash flow and a 25-year horizon of built-in escalations, making it a rare opportunity for investors seeking reliable, long-term income.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,500 SF
Building Class
C
Year Built
1965
Price
$4,250,000
Price Per SF
$772.73
Cap Rate
2.14%
NOI
$90,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.47
Lot Size
0.27 AC
Zoning
QGD-10 - Downtown WPB – Quadrille Garden District
Parking
8 Spaces (1.45 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Goodyear is dedicated to producing, innovating, and servicing the best tires in the world. Their mission began well over a century ago in Akron Ohio, and after more than a century, Goodyear has evolved to become one of the world’s largest tire companies. A global leader in creating the future of mobility, Goodyear is constantly developing new and innovative products designed to harness the power of forward movement.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 74-43-43-21-08-055-0011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,667,668 |
Property Taxes
Parcel Number
74-43-43-21-08-055-0011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,667,668
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SINGLE TENANT NET LEASE GOOD YEAR | 515 S Dixie Hwy
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