Main Street Auto
Retail | 7.00% CAP | 6,278 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Main Street Auto located at 459 Opelika Rd, Auburn, AL 36830. The site consists of roughly 6,278 rentable square feet of building space on an estimated 0.71-acre parcel of land. This Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $205,000 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.
Proximity to Auburn University | The subject property is located just 1.5 miles from Auburn University, home to over 33,000 students, faculty, and staff. The site benefits from exceptional daily traffic, steady consumer spending, and year-round demand generated by one of Alabama’s largest universities.
Strong Population Growth | The property benefits from a steadily growing population, with projected annual growth of 1.6% within a 3-mile radius and 1.7% within a 5-mile radius through 2029, supporting sustained demand for retail, services, and commercial activity in the surrounding trade area.
Built-In Customer Base | The property is positioned within a densely populated trade area, with 56,177 residents within 3 miles and 83,010 residents within 5 miles, offering a robust customer base to support retail, dining, and service-oriented businesses.
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