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Views: 113 DOM: 672 Updated: 09.08.24 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 11.3
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 over 13 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...

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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,...


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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

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