Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$2,897,196
Express Oil Change & Tire Engineers
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 5,670
Cap Rate 5.35%
NOI $155,000
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
Year Built 2025
Acreage 2.770
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition Sale for leaseback
Abs NNN | 5.35% CAP | 5,670 SF
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.
Starke, Florida is a small city located in north-central Florida, about 25 miles southwest of Jacksonville and roughly 50 miles northeast of Gainesville. It serves as the county seat of Bradford County.
Investment highlights
- Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
- Five Percent Rental Increases Every Five Years with Multiple Renewal Options
- Express Oil Change & Tire Engineers Operates Over 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.
- Conveniently Located Along US-301, Easily Accessible by 20,000 Plus Cars per Day
- Situated Nearby Other Major Retailers Including Dollar Tree, ACE Hardware, Tractor Supply Co., IHOP, and More
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$155,000.00
$12,916.67/mo
Valuation Metrics
0
DSCR
5.35%
Cap Rate
5.35%
ROI
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