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Views: 96 Updated: 10.24.23 Posted: 06.25.23 Status: Inactive

Summary

Price $3,228,500
Built/Renov 2023
Tenant Mavis Discount Tire
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 6,800
Lease Start 09-01-2023
#Units 748
Price/SF $474.78
Expiration 09-01-2043
Tenant Type Automotive
NOI $169,500
R. Term 18.9
Ownership Fee Simple
Rent/SF $24.93
Increases 7.5%/10/yrs
Pop 5Mi 36,520
Lot/AC 0.95
Options 6/5yrs/7.5%
AHHI 5Mi $103,471

Lease Highlights

  • Brand new 2023 construction
  • Mavis Discount Tire recently signed a brand new 20-year lease with 6 (5-year) options to extend
  • Lease features a 7.50% rental increase starting at year 10 and every 5 years after including at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Mavis Tire Express Services

Location Description

This newly constructed 6,800 square foot Mavis Discount Tire is situated on a .95 acre parcel along Sea Island Parkway (Us Hwy21) with access to 22,300 vehicles per day. The site is an outparcel to a larger development that includes Publix, AutoZone, Sherwin Williams, Wendy’s and others. Additionally surrounding national/credit tenants include Walmart, Food Lion, Walgreens, McDonalds and many...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Mavis Discount Tire
  • Guarantor:Corp Rated
  • Company:Mavis Tire Express Services
  • # Units:748
  • Tenant S&P: B-
  • Moody’s: B3
  • Stock:Private

About Tenant

Mavis Discount Tire (“Mavis”) is one of the largest, independent, multi-brand tire dealers in the U.S.. Founded in 1972, the chain offers a menu of additional services including brakes,...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 1,736 16,052 37,962
2022 Total Population : 1,666 15,631 36,520
2022 Employed Civilian Pop : 721 7,657 15,912
2022 Total Businesses : 249 1,065 1,790
2022 Average Household Income : $ 125,749 $ 97,724 $ 103,471
2022 Total Consumer Spending : $ 73 M $ 588 M $ 1289 M
2022 Median Age : 45 41 37
2022 Total Households : 688 6,980 14,473
2022 Pop Age 25+: Bachelor's Degree : 294 2,217 5,338
2022 Average Home Value : $ 620,901 $ 493,014 $ 437,431
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Sams Point Way Robin Dr 2019 3,000 0.15 mi
Sams Point Rd Mayfair Ct 2019 21,700 0.16 mi
Sea Island Parkway Ferry Rd 2019 22,300 0.17 mi
Youmans Drive Sangster Rd 2019 1,500 0.37 mi
Sunset Blvd High Pt 2019 2,500 0.40 mi
Miller Dr W Jasmine Ct 2019 1,200 0.41 mi
Sea Island Pkwy Youmans Dr 2005 19,300 0.41 mi
Youmans Dr Red Oak Dr 2010 1,200 0.49 mi
Sea Island Pkwy Dow Rd 2010 18,300 0.50 mi
Sea Island Parkway Geechie Rd 2019 19,100 0.59 mi

Listing Broker

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