Select Real Equity Advisors is pleased to present our Exclusive Offering for the single tenant, NN leased, Goodyear Tire and Rubber property located at 101 Rockaway Turnpike, Lawrence, Nassau County, NY.
LONG TERM OCCUPANCY HISTORY: Goodyear originally executed their lease in1968 and have continually renewed options. The tenant presently pays $237,246 p/a and operates on a 15-year NN lease term that expires on 7/31/2030 with one additional 5 year option. The lease features 10% rental escalation every 5 years with the next base rent increase to $260,620, occurring as of 8/1/2025.
TENANT OVERVIEW: 100% occupied and corporately backed by The Goodyear Tire & Rubber Company with a Standard and Poor’s rating of BB-. Having over 1,000 locations throughout the United States, the Goodyear brand is a household name and is well positioned for long-term success.
IRREPLACEABLE LOCATION: The asset is located within Nassau County’s desirable “Five Towns” at the NWC of the traffic light-controlled intersection of Rockaway Turnpike and East Avenue in Lawrence, NY and is in very close proximity to the Belt Parkway, Southern State Parkway and Sunrise Highway. The location is very close to the Queens border and JFK International Airport. The traffic count is very strong with 55,276 VPD passing by the site. Retailers in the area include Lowe’s Home Improvements, Stop & Shop, Target, Costco, LA Fitness, Chick-fil-A and many others in this high traffic and desirable location. There are 209,499 people living within 3 miles of the property earning an average annual income of $126,384.
THE PROPERTY: The Goodyear building is a one-story structure of +/-7,700 square feet with 8 service bays on +/-.34 acres and was completed in 1970 with recent improvements of +/-$600,000. occurring in 2015, when the tenant extended their lease.
Please contact us to receive additional details regarding this quality investment opportunity.