Mavis Discount Tire
Retail | 5.75% CAP | 6,979 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Mavis Discount Tire located at 1411 West Corbett Ave, Swansboro, NC 28584. The site consists of roughly 6,979 rentable square feet of building space on an estimated 0.89-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $175,000 and has scheduled increases of 5.00% every 5 years.
Investment highlights
Strong Corporate Guarantee | The lease is subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, a 3,000+ unit guarantee, the largest tire service operator in the US. Mavis currently operates the following brands with a highly diversified business mix: Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, Midas, and Town Fair Tire.
Outparcel to Grocery Store; Surrounded by Other Major Tenants | The property is a highly visible outparcel to a Food Lion, and is situated in a retail-rich area with major national tenants nearby, including a Walmart Supercenter, a Chevrolet dealership, Burger King, Dollar General, Pizza Hut, and Bojangles. This location offers exceptional consumer traffic, strong visibility, and the potential for sustained retail performance in a proven retail corridor.
Prime Frontage on Hwy 24 | The property benefits from excellent visibility and direct access off Highway 24, which brings approximately 30,800 vehicles per day directly to the subject property. This prime location ensures strong exposure to both local and regional traffic.
Strong Demographics with Growing Population | Consistent with trends throughout North Carolina, the area surrounding the subject property has experienced strong population growth that is expected to continue. Within a three-mile, five-mile, and ten-mile radius, population grew at a rate of 2.20%, 1.10%, and 2.50% from 2020-2024 and is expected to grow at a rate of 1.40%, 1.20%, and 1.40% through 2029, respectively.
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