Mavis
Retail | 5.15% CAP | 7,000 SqFt
Marketing description
Brand-new 15-year absolute net ground lease Mavis featuring 10% rental increases every 5 years throughout the base term and options. The tenant is a leader in the automotive service industry with 70+ years of experience.
Investment highlights
Brand-new 15-year absolute net ground lease featuring 10% rental increases every 5 years
Corporate guaranty from tenant’s parent company
Pad to top performing Kroger location – top 3% of grocery stores nationwide in terms of annual visits (per Placer.ai)
Significant visibility on signalized hard corner intersection – 41,000+ VPD
Low rent relative to other new construction Mavis comps which are $165-175K+
Dense residential trade area – 319,000+ residents within a 5-mile radius of the subject property
Annual auto maintenance/repair spending totals over $92 million in a 5-mile radius (per CoStar)
Other prominent & proximal tenants driving traffic to the direct trade area include Walmart, Amazon, ALDI, Chipotle, Starbucks, and McDonald’s
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