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Views: 125 DOM: 675 Updated: 09.08.24 Posted: 11.11.22 Status: Active

Summary

Price $2,215,000
Built/Renov 2020
Tenant Express Oil Change
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,732
Lease Start 11-28-2020
#Units 341
Price/SF $468.09
Expiration 12-31-2035
Tenant Type Automotive
NOI $136,327
R. Term 11.3
Ownership Fee Simple
Rent/SF $28.81
Increases 7.5%/5/yrs
Pop 5Mi 63,564
Lot/AC 0.83
Options 5/5yrs/7.5%
AHHI 5Mi $68,726

Lease Highlights

  • Lease has over 13 years remaining with 5 (5 -year) options to extend
  • The lease features 7.5% rental increases every 5 years and at the beginning of each option period
  • This is an Absolute NNN lease with zero landlord responsibilities
  • The lease is corporate guaranteed by Mavis

Location Description

Express Oil Change is strategically located along Thomas St. (US Hwy 190) in Hammond, LA with clear visibility and access to 23,500 vehicles passing by daily. The subject property is next to major retailers such as Walmart Supercenter, Hobby Lobby, Winn Dixie, Lowe’s, Albertson’s and more. Additionally, the site is located 2.5 miles from Southeastern Louisiana University (14,300+ students), it...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Express Oil Change
  • Guarantor:Corporate
  • Company:BayPine LP
  • # Units:341
  • Stock:Private

About Tenant

Express Oil Change & Tire Engineers is an American automotive maintenance brand, with services including its signature 10 minute oil change , in addition to full-service mechanical,...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 4,083 31,568 62,848
2022 Total Population : 4,101 31,483 61,502
2022 Employed Civilian Pop : 1,571 15,009 29,621
2022 Total Businesses : 552 2,234 3,084
2022 Average Household Income : $ 58,925 $ 69,853 $ 77,397
2022 Total Consumer Spending : $ 83 M $ 727 M $ 1608 M
2022 Median Age : 33 31 34
2022 Total Households : 1,635 11,955 23,946
2022 Pop Age 25+: Bachelor's Degree : 446 3,653 7,364
2022 Average Home Value : $ 372,410 $ 273,641 $ 260,357
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Thomas St Market St 2010 24,914 0.16 mi
Old Baton Rouge Hwy Chauvin Dr 2010 5,813 0.31 mi
LA3260 N Morrison Blvd 2020 5,840 0.37 mi
US0190 S Morrison Blvd 2020 14,572 0.38 mi
Hwy 190 W W Thomas St 2010 28,561 0.38 mi
LA1040 Camellia Ave 2020 2,569 0.40 mi
US0051 W Thomas St 2020 21,989 0.47 mi
US0051 W Church St 2020 15,849 0.48 mi
S Morrison Blvd Guidry Dr 2010 24,769 0.50 mi
US0051-X N Morrison Blvd 2020 19,095 0.59 mi

Listing Broker

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