ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Firestone Complete Auto Care – North Smithfield, RI – Ground Lease

22 Dowling Village Boulevard
Sold

SALE PRICE: $1,762,500
CAP RATE: 5.11%

PROPERTY HIGHLIGHTS:

  • PRIME RETAIL — Within Dowling Village premier power center (600K SF, mixed-use development) anchored by Lowe’s, Walmart Supercenter & ALDI Supermarket — North Smithfield’s largest site for commercial development (trade area of nearly 190K people) featuring cross easements with box tenants & development potential near the property site.
  • EXCELLENT LOCATION — 20 minutes from Providence (1.7M+ people) & less than 1 hour from Boston; I-295 runs just south of the town with direct access from nearby North Smithfield Expressway.
  • NATIONAL TENANT — Firestone is the leading provider of maintenance, repairs and tires with over 1,700 locations nationwide in 40 states.
  • QUALITY INVESTMENT — 20-year ground lease with zero landlord obligations; rent increases throughout base term and options.
  • LARGE, DENSE WORKFORCE TRADE AREA — Over 94,000 people, with an average household income of nearly $73K, within five miles of the property.
  • There are no features available

$1,762,500

8,736 SF

Price:

$1,762,500

Cap Rate:

5.11%

Building Size:

8,736 SF

SF Land Area:

1.43 acres

Current NOI:

$90,000

Lease Type:

Ground

Remaining Term:

Seventeen and One-Half (17.5) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Michael O'Mara

(617) 239-3616

Download Offering Memorandum
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