Mavis Tires & Brakes (GL)

1190 Missouri Avenue North, Largo, FL 33770

$2,100,000

Cap Rate 5.00%

Views: 91 Updated: 08.19.24 Posted: 05.01.24 Status: Inactive

Summary

Price $2,100,000	Built/Renov 2016	Tenant Mavis Tires & Brakes (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp Rated
Size/SF 7,725	Lease Start 09-15-2016	#Units 879
Price/SF $271.84	Expiration 09-30-2036	Tenant Type Automotive
NOI $105,000	R. Term 11.9	Ownership Ground Lease
Rent/SF $13.59	Increases 10.0%/2/yrs	Pop 5Mi 255,879
Lot/AC 0.87	Options 4/5yrs/10%	AHHI 5Mi $93,216

Lease Highlights

Mavis Tires & Brakes has 12+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities 
Corporate guaranteed lease

Location Description

Mavis Tires & Brakes is strategically located at the signalized, hard corner intersection of Rosery Road and Missouri Avenue N, one of the area’s primary commercial corridors, with access to a robust combined daily traffic count of 42,600 vehicles. The property enjoys outstanding visibility and frontage and is shadow anchored by Walmart Supercenter, with an ALDI located across the street....

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
WalMart out-parcel
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Mavis Tires & Brakes Wikipedia Largo, Florida Zip Code 33770 Broker Site Page Drone Video (YouTube)

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	17,797	108,253	247,763
2023 Total Population :	17,580	108,658	248,615
2023 Employed Civilian Pop :	8,696	53,076	126,617
2023 Total Businesses :	730	5,900	13,340
2023 Average Household Income :	$ 69,668	$ 81,259	$ 88,488
2023 Total Consumer Spending :	$ 502 M	$ 3588 M	$ 8783 M
2023 Median Age :	47	51	50
2023 Total Households :	8,231	50,691	114,095
2023 Pop Age 25+: Bachelor's Degree :	2,444	17,080	40,444
2023 Average Home Value :	$ 253,887	$ 327,329	$ 368,345

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Missouri Avenue North	Rosery Rd NE	2019	33,500	0.05 mi
Missouri Avenue North	Rosery Rd NE	2022	30,000	0.05 mi
Rosery Rd NW	2nd St	2018	2,400	0.10 mi
Rosery Road Northwest	2nd St	2022	800	0.20 mi
Rosery Rd NE	Vancouver Dr	2011	10,280	0.41 mi
South Betty Lane	Auburn St	2022	2,300	0.47 mi
Missouri Ave N	4th Ave NW	2011	34,000	0.52 mi
Clearwater Largo Rd N	10th Ave NW	2005	27,500	0.55 mi
Rosery Rd NE	Balboa Ln	2011	8,997	0.60 mi
Missouri Ave N	2nd Ave NE	2011	34,115	0.64 mi

Listing Broker

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