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Views: 78 DOM: 72 Updated: 10.25.24 Posted: 10.10.24 Status: Active

Summary

Price $1,500,000
Built/Renov 1988/2024
Tenant Brakes Plus
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 6,370
Lease Start 11-01-2024
#Units 160
Price/SF $235.48
Expiration 11-30-2034
Tenant Type Automotive
NOI $90,000
R. Term 9.11
Ownership Fee Simple
Rent/SF $14.13
Increases 10.0%/5/yrs
Pop 5Mi 112,991
Lot/AC 0.60
Options 5/5yrs/10%
AHHI 5Mi $107,403

Lease Highlights

  • Brand new 10-year lease with 5 (5-year) options to extend
  • 10% rental increases every 5 years throughout the primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Brakes Plus is strategically located at the hard corner intersection of S. Broadway Avenue and Just North of Loop 323, the area's busiest retail corridor, with access to a combined daily traffic count of 42,690 vehicles. The property is situated near Broadway Square Mall, the largest mall in Tyler, featuring over 625,000 square feet of retail space with more than 80 tenants, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Brakes Plus
  • Guarantor:Corp Rated
  • Company:Mavis Tire Express Services
  • # Units:160
  • Tenant S&P: B-
  • Moody’s: B3
  • Stock:Private

About Tenant

Brakes Plus is a full-service auto repair and maintenance shop offering a wide range of services, including brake repair, maintenance, air conditioning, clutch repair, axle service, engine repair,...


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Listing Broker

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