Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$3,271,028
Express Oil Change & Tire Engineers Sale-Leaseback
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 5,672
Cap Rate 5.35%
NOI $175,000
Occupancy 100%
Tenancy Single
Brand/Tenant Express Oil, Mavis Discount Tires
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options 6, 5 Year Options
Price per SqFt $577
Year Built 2025
Acreage 1.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition Sale for leaseback
Phoenix MSA | 5.35% CAP | 5,672 SqFt
Marketing description
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, tires, brakes, and more general service offerings. The brand operates over 422 locations across 19 states.
Surprise, Arizona is located just 28 miles northwest of downtown Phoenix. The City of Surprise sits at the foot of the White Tank Mountains and is currently home to over 100,000 residents.
Investment highlights
- Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
- 5% Rental Increases Every Five Years with Multiple Renewal Options
- Express Oil Change & Tire Engineers Operates 422+ Locations Across 19 States
- Corporate Guaranty by Mavis Tire Express Services Corp., One of the Largest Independent Automotive Service Businesses in the United States with Over 3,500 Service Centers Across the U.S.
- 220,546 Residents within a 5-Mile Radius in Growing Phoenix MSA Trade Area
- Average Household Income Exceeds $109,000 within 1 Mile of the Subject Property
- Easily Accessible Location Near the Corner of North Litchfield Road and West Waddell Road (43,000+ Cars per Day)
- Situated at a Busy Retail Intersection Anchored by Fry's, Safeway, EOS Fitness, and AMC Theatres
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$175,000.00
$14,583.33/mo
Valuation Metrics
0
DSCR
5.35%
Cap Rate
5.35%
ROI
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