Main Street Auto
Retail | 6.75% CAP | 3,086 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Main Street Auto located at 11910 Chapman Highway, Seymour, TN 378 65. The site consists of roughly 3,086 rentable square feet of building space on an estimated 2.38-acre parcel of land. Main Street Auto subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $147,809 and has scheduled increases of 2.00% annually starting 3/1/2031.
Investment highlights
Strong Corporate Guarantee | The lease features a corporate guarantee from Main Street Auto. Main Street Auto is a rapidly growing operator of automotive repair shops in the southeast and beyond. They currently operate ~150 locations. The corporate guarantee on this lease is backed by ~110 of these locations.
Income Tax Free State | Tennessee is 1 of 9 income tax free states in the United States. Ownership of an asset in an income tax free state can provide several benefits to landlords. Discuss with a Certified Public Accountant for further details.
Dense Retail Corridor | The subject property is strategically positioned within a dense retail corridor that features prominent national and local tenants. Notable nearby retailers include Kroger, Tractor Supply, AutoZone, Advance Auto Parts, Dollar Tree, Dollar General, Walgreens, Taco Bell, KFC, Starbucks, Burger King, Little Caesars, Sonic, Subway, Dunkin', Zaxby's, Wendy's, Dairy Queen, and many more.
Brand-New Long-Term Triple-Net (NNN) Lease | This site is subject to a brand-new 20-year absolute triple-net (NNN) lease which commenced on 2/20/2025. The lease features 2.00% annual rental increases starting 3/1/2031 and has no landlord responsibilities.
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