loader
Join Free
Views: 138 DOM: 738 Updated: 10.18.24 Posted: 11.14.22 Status: Active

Summary

Price $2,335,000
Built/Renov 2020
Tenant Express Oil Change
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,732
Lease Start 12-28-2020
#Units 341
Price/SF $493.45
Expiration 12-31-2035
Tenant Type Automotive
NOI $143,505
R. Term 11.1
Ownership Fee Simple
Rent/SF $30.33
Increases 7.5%/3/yrs
Pop 5Mi 72,665
Lot/AC 1.31
Options 5/5yrs/7.5%
AHHI 5Mi $103,234

Lease Highlights

  • Tenant has 11+ years remaining with 5 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years and at the beginning of each option period
  • Ideal 1031 exchange asset | Absolute NNN lease features zero landlord responsibilities
  • Lease is corporate guaranteed by Mavis

Location Description

Express Oil Change is located along one of the main North/South corridors (LA-21) through Covington, LA just off interstate 12 which sees more than 23,049 vehicles passing daily. The site is positioned near major retailers such as Winn-Dixie, CVS, Walgreens, Target, Ross Dress for Less, and many more. The 5-mile trade area is supported by more than 72,665 residents, and 41,812 daytime...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Express Oil Change
  • Guarantor:Corporate
  • Company:BayPine LP
  • # Units:341
  • Stock:Private

About Tenant

Express Oil Change & Tire Engineers is an American automotive maintenance brand, with services including its signature 10 minute oil change , in addition to full-service mechanical,...


...

Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 3,002 30,493 78,921
2022 Total Population : 2,851 28,344 74,274
2022 Employed Civilian Pop : 1,279 12,124 33,449
2022 Total Businesses : 391 2,338 4,706
2022 Average Household Income : $ 127,629 $ 122,206 $ 113,818
2022 Total Consumer Spending : $ 127 M $ 1168 M $ 2803 M
2022 Median Age : 45 42 41
2022 Total Households : 1,196 11,370 29,203
2022 Pop Age 25+: Bachelor's Degree : 540 6,243 15,482
2022 Average Home Value : $ 355,796 $ 436,960 $ 375,225
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Highway 21 S Tyler St 2020 19,205 0.53 mi
S Tyler St Inwood Dr 2012 23,049 0.77 mi
S Tyler St I- 12 2020 12,676 0.82 mi
Brewster Rd River Chase Dr 2020 569 0.91 mi
Pinnacle Pkwy Brewster Rd 2020 4,305 1.33 mi
I-0012 TpkeRd 2020 74,008 1.81 mi
I- 12 Three Rivers Rd 2012 56,810 1.88 mi
S Tyler St W 18th Ave 2012 15,095 1.92 mi
Leake Ave Joliet St 2018 17,488 2.09 mi
W 21st Ave W St Mary Dr 2012 8,837 2.11 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity