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Views: 93 Updated: 01.14.24 Posted: 07.03.23 Status: Inactive

Summary

Price $5,020,400
Built/Renov 2022
Tenant Mavis Discount Tire
Cap Rate 4.90%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 8,820
Lease Start 12-01-2022
#Units 748
Price/SF $569.21
Expiration 12-01-2042
Tenant Type Automotive
NOI $246,000
R. Term 18.2
Ownership Fee Simple
Rent/SF $27.89
Increases 5.0%/4/yrs
Pop 5Mi 80,442
Lot/AC 1.38
Options 2/5yrs/5%
AHHI 5Mi $130,679

Lease Highlights

  • Brand new 2022 construction
  • Mavis Discount Tire has over 19 years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Mavis Tire Express Services

Location Description

This newly constructed Mavis Discount Tire is located along Garnet Trail with access to over 34,000 vehicles per day. The site benefits from its immediate proximity to a newly constructed Publix-anchored center with tenants including Wawa, Walgreens, Domino’s, Panda Express and others. Additional national/credit tenants in the area include Starbucks, La Fitness, Panera Bread, Taco Bell, Slim...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Mavis Discount Tire
  • Guarantor:Corp Rated
  • Company:Mavis Tire Express Services
  • # Units:748
  • Tenant S&P: B-
  • Moody’s: B3
  • Stock:Private

About Tenant

Mavis Discount Tire (“Mavis”) is one of the largest, independent, multi-brand tire dealers in the U.S.. Founded in 1972, the chain offers a menu of additional services including brakes,...


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