Property details
1031 Property, Southwest Region
Property Description
1031 Property ideal for 1031 Property Exchange.
This 1031 Property lease term shown is an estimate. Actual lease term is fifteen (15) Years to commence upon completion of improvements. February 2008 rent commencement.
This 1031 Property will house a corporate owned Research & Development facility for Bridgestone Japan (“BSJ”) that includes outside storage of scrap rubber tires (there will be no manufacturing, testing or disposal of tires at this facility). The existing building will be retrofitted to accommodate BSJ’s industry specific band saw and water cutter, installed in a soundproof enclosure inside the building. Tires are brought in, cut into sections and later removed for proper disposal, while others will be transported to alternate facilities for analysis and testing in order to manufacture a better tire.
Bridgestone Americas Holding, Inc., through its subsidiaries (including Bridgestone Firestone North American Tire, LLC) is an international manufacturer with 55 production facilities throughout the Americas. The Nashville Tennessee-based company is the largest subsidiary of Bridgestone Corporation, based in Tokyo, Japan.
Shcedule of rents:
Years 1 - 5: $132,665
Years 6 - 10: $145,932
Years 11 - 15: $160,525
What is the ideal 1031 Property to invest in?
1031 property varies from low management to high management. Most of our investors lean towards 1031 property with little to no management.
Other properly related to 1031 Property
» Search for all properties related to 1031 Property by using our PROPERTY SEARCH, expand the Property Types, then check the boxes for "Single Tenant" and "Ground Lease".
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Highlights
- Status:
- Sold
- Price:
- $2,041,000
- PSF:
- $285
- Cap Rate:
- 6.50%
- Annual Rent:
- $132,665
- Rent Increases:
- 10% Every Five (5) Years
Property Information
- Building Size:
- 7,170 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Industrial
- Units/Spaces:
- 1
- Year Built:
- 2008
- Land Area:
- 42,641 sq.ft.
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Bridgestone Firestone North American Tire
- Lease Type:
- NN
- Lease Commencement:
- 2/1/2008
- Lease Expiration:
- 1/31/2023
- Lease Term:
- 15 years
- Years Remaining:
- 15 years
- Landlord Responsibilities:
- Landload responsilbe for Roof & Structure, Parking Lot and Utility Lines Located Outside & Serving the Building.
- Options:
- Four (4) -5 Year
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.