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Views: 98 DOM: 158 Updated: 11.04.24 Posted: 07.16.24 Status: Active

Summary

Price $1,959,000
Built/Renov 2023
Tenant Strickland Brothers
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,860
Lease Start 08-02-2023
#Units 227
Price/SF $1,053.23
Expiration 11-01-2038
Tenant Type Automotive
NOI $127,342
R. Term 13.10
Ownership Fee Simple
Rent/SF $68.46
Increases 10.0%/4/yrs
Pop 5Mi 95,323
Lot/AC 0.67
Options 4/5yrs/10%
AHHI 5Mi $97,063

Lease Highlights

  • New 2023 construction
  • Strickland Brothers has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Strickland Brothers is strategically located on Seven Oaks Boulevard, with access to 10,900 vehicles passing by daily. The property is conveniently situated close to Interstate 24, which sees 120,000 vehicles per day, and is positioned across from a Publix-anchored shopping center and RaceTrac. Major corporations in the vicinity include Nissan, Pepsi, Tenneco, and Asurion. The immediate area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Strickland Brothers
  • Guarantor:Corporate
  • Company:Princeton Equity Group
  • # Units:227
  • Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change. It offers a list of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 5,077 51,156 106,512
2024 Total Population : 4,795 45,667 95,207
2024 Employed Civilian Pop : 2,576 23,505 50,080
2024 Total Businesses : 145 825 2,038
2024 Average Household Income : $ 103,745 $ 99,954 $ 100,122
2024 Total Consumer Spending : $ 154 M $ 1416 M $ 2966 M
2024 Median Age : 38 37 37
2024 Total Households : 1,702 16,202 33,791
2024 Pop Age 25+: Bachelor's Degree : 719 6,863 13,627
2024 Average Home Value : $ 389,856 $ 413,841 $ 424,999
*ESRI data is presented for informational purposes only

Listing Broker

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