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Views: 19 DOM: 22 Updated: 08.28.24 Posted: 08.27.24 Status: Active

Summary

Price $3,072,000
Built/Renov 2021
Tenant Express Oil Change
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,730
Lease Start 04-11-2022
#Units 2,000
Price/SF $649.47
Expiration 04-10-2042
Tenant Type Automotive
NOI $192,000
R. Term 17.6
Ownership Fee Simple
Rent/SF $40.59
Increases 7.0%/5/yrs
Pop 5Mi 40,146
Lot/AC 0.82
Options 4/5yrs/7%
AHHI 5Mi $102,616

Lease Highlights

  • Express Oil Change has 17+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 7% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Express Oil Change is strategically located at the hard corner intersection of Market Place Blvd and Tanger Blvd, with access to a combined daily traffic count of 21,430 vehicles. The property benefits from convenient access just off I-75, which sees 98,800 VPD, and serves as an outparcel to a high-volume Walmart Supercenter. It is also located down the street from Tanger Outlets, which...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Express Oil Change
  • Guarantor:Corporate
  • Company:BayPine LP
  • # Units:2,000
  • Stock:Private

About Tenant

Express Oil Change & Tire Engineers is an American automotive maintenance brand, with services including its signature 10-minute oil change and full-service mechanical, tires, brakes, and more...


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Listing Broker

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