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Views: 142 DOM: 307 Updated: 10.18.24 Posted: 01.19.24 Status: Active

Summary

Price $2,615,385
Built/Renov 2023
Tenant Mavis Discount Tire
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp Rated
Size/SF 5,866
Lease Start 04-17-2023
#Units 879
Price/SF $445.85
Expiration 04-30-2043
Tenant Type Automotive
NOI $153,000
R. Term 18.5
Ownership Fee Simple
Rent/SF $26.08
Increases 10.0%/4/yrs
Pop 5Mi 95,450
Lot/AC 0.00
Options 5/5yrs/10%
AHHI 5Mi $62,063

Lease Highlights

  • Mavis Discount Tire has 18+ years remaining on the current lease term with 5 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Mavis Discount Tire is strategically located on South Main Street, with access to 23,100 vehicles passing by daily. The property is located in a highly developed commercial district that is centered around US Highways 29 and 70. Its prime location includes being across the street from a Walmart Supercenter and adjacent to an Aldi, providing excellent visibility and frontage. The property is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 3,728 37,827 95,026
2023 Total Population : 3,806 38,285 95,813
2023 Employed Civilian Pop : 1,927 15,599 41,592
2023 Total Businesses : 409 2,486 4,265
2023 Average Household Income : $ 51,552 $ 55,488 $ 69,812
2023 Total Consumer Spending : $ 72 M $ 717 M $ 2271 M
2023 Median Age : 35 36 38
2023 Total Households : 1,574 14,633 37,157
2023 Pop Age 25+: Bachelor's Degree : 230 2,544 10,011
2023 Average Home Value : $ 222,377 $ 168,583 $ 202,800
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fraley Road 2019 3,500 0.11 mi
SR 1009 Plz Ln 2020 21,000 0.25 mi
South Main Street W Willis Ave 2021 25,000 0.26 mi
West Fairfield Road Surrett Dr 2021 9,800 0.31 mi
Bellemeade Street 2019 1,700 0.38 mi
South Main Street E Moore Ave 2021 22,000 0.44 mi
East Fairfield Road Bellemeade St 2019 16,000 0.45 mi
East Fairfield Road Akers Ct 2021 14,000 0.47 mi
S Main St E Fairfield Rd 2003 29,000 0.48 mi
NW Cloverleaf Pl 2021 600 0.52 mi

Listing Broker

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