Listed by SURMOUNT
$2,542,373
Mavis Tires & Brakes
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,979
Cap Rate 5.90%
NOI $150,000
Tenancy Single
Brand/Tenant Express Oil, Mavis Discount Tires
Lease Type NNN
Lease Term 20
Remaining Term 20
Year Built 2025
Acreage 1.120
Investment Type Sale/Leaseback
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition Sale for leaseback
Absolute NNN 20-Year Corporate Sale-Leasebacks
Marketing description
Surmount is pleased to present the exclusive listing for a Mavis Tires & Brakes located at 3125 Highway 78 East, Jasper, AL 35501. The site consists of roughly 6,979 rentable square feet of building space on an estimated 1.12-acre parcel of land. Mavis Tires & Brakes is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $150,000 and has scheduled increases of 5.00% Every 5 Years.
Investment highlights
- Excellent Corporate Guarantee from Leading Tire Retailer | The lease is backed by a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, the largest tire service operator in the U.S. with over 3,000 locations. Mavis operates a highly diversified portfolio of brands, including Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, Midas, and Town Fair Tire.
- Strong Frontage on Highway 78 East | The subject property is situated on Highway 78 East, one of the main corridors in the area. Highway 78 East brings roughly 30,000 vehicles directly to the site daily, ensuring that there is steady traffic flow in the trade area.
- Dense Retail Corridor | High-Performing Tenants | The subject property benefits from being situated in a dense retail corridor near major national tenants such as a Walmart Supercenter, The Home Depot, Chick-fil-A, Starbucks, Aldi, and many more. The Walmart places in the 85th percentile for visits while The Home Depot places in the 82nd percentile for visits in Alabama, highlighting the strength of the corridor.
- Expanding Market of Aging Vehicles | With the average vehicle age now exceeding 12 years and more cars on the road than ever, the need for ongoing maintenance is rising. This long-term trend supports sustained growth for auto centers as aging fleets require regular upkeep and repair.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,000.00
$12,500.00/mo
Valuation Metrics
0
DSCR
5.9%
Cap Rate
5.9%
ROI
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