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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

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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 Brochure

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Auto Repair

Building Size

5,500 SF

Building Class

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

150’ on Dixie

Pylon Sign

Signage

Signalized Intersection

Major Tenants

Retailer
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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.