Tire Kingdom

Investment Overview

Investment Highlights

• 15-Year Lease Extension Through 2041 – Recently secured a 15-year lease extension, demonstrating the tenant’s continued commitment to this Tallahassee location.
• 24+ Years of Operating History at the Site – Tire Kingdom has occupied the property since 2001, establishing a longstanding presence at this Apalachee Parkway location.
• Corporate-Guaranteed Lease – The lease is backed by a corporate guaranty, providing contractual support beyond a location-level lease.
• Double-Net (NN) Lease Structure – Tenant is responsible for property taxes, CAM, and insurance, with landlord obligations limited to roof and structure.
• Scheduled 5% Rental Increases – Contractual rent escalations occur every five years, with the next scheduled increase on December 1, 2031, based on the current lease abstract.
• Prominent Apalachee Parkway Location – Situated along a major Tallahassee retail corridor with direct access to downtown and reported traffic exceeding 29,350 vehicles per day.
• Adjacent to Walmart Supercenter – Positioned next to a major national retailer at a signalized intersection, benefiting from visibility and accessibility along an established commercial corridor.
• Established Retail Trade Area – Approximately 112,960 residents and 47,007 households within a five-mile radius, providing a substantial surrounding population base.
• Renovated in 2016 – The property underwent renovations in 2016, reflecting prior investment in the physical asset.
• Essential Automotive Service Use – Tire sales, maintenance, and repair services support the property’s role as a service-oriented retail destination.