Mavis Discount Tire (GL)

24536 John T Reid Parkway, Scottsboro, AL 35768

$1,250,000

Cap Rate 5.20%

Views: 178 DOM: 494 Updated: 08.06.24 Posted: 08.16.23 Status: Active

Summary

Price $1,250,000	Built/Renov 2024	Tenant Mavis Discount Tire (GL)
Cap Rate 5.20%	Lease Type Abs NNN	Guarantor Corp Rated
Size/SF 6,925	Lease Start 09-01-2024	#Units 879
Price/SF $180.51	Expiration 12-01-2044	Tenant Type Automotive
NOI $65,000	R. Term 19.11	Ownership Ground Lease
Rent/SF $9.39	Increases 10.0%/5/yrs	Pop 5Mi 15,177
Lot/AC 1.86	Options 6/5yrs/10%	AHHI 5Mi $71,682

Lease Highlights

Brand new 2024 construction
Mavis Discount Tire will be signing a brand-new 20-year lease with 6 (5-year) options upon completion of construction
Ground lease will feature a 10% rental increase 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

Mavis Discount Tire is currently under construction with a 2024 opening. The site is situated as an outparcel to a Publix anchored shopping center at the signalized, hard corner intersection of John T Reid Parkway and State Highway 35 with access to 51,000 vehicles per day. Additionally, the site is positioned across from Scottsboro Marketplace, a Walmart shadow anchored center that’s home to...

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Key Features

New construction
Build to suit
Near major nationals
Shopping Ctr out-parcel
Highway location
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee
Credit rated company

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Links

Mavis Discount Tire Wikipedia Mavis Discount Tire Wikipedia Scottsboro, Alabama Zip Code 35768 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Mavis Discount Tire
Guarantor:Corp Rated
Company:Mavis Tire Express Services
# Units:879
Tenant S&P: B-
Moody’s: B3
Stock:Private

About Tenant

Mavis Discount Tire (“Mavis”) is an independent American tire dealer and automotive service chain. Founded in 1972, the chain offers additional services including brakes, alignments, suspension,...

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Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
50799 Views
165 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
46370 Views
137 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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