Listed by SURMOUNT
$2,608,696
Mavis Tires & Brakes
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,850
Cap Rate 5.75%
NOI $150,000
Tenancy Single
Brand/Tenant Express Oil, Mavis Discount Tires
Lease Type NNN
Lease Term 20
Remaining Term 20
Year Built 1965
Acreage 0.660
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 724 Cherry Road, Rock Hill, SC 29732. The site consists of roughly 6,850 rentable square feet of building space on an estimated .66-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.
- Proximity to Winthrop University | The subject property is just steps away from Winthrop University, a public university with an enrollment of approximately 5,300 students. Winthrop University increases traffic and provides a consistent consumer base in the immediate area.
- Excellent Frontage on Cherry Rd | The subject property benefits from its positioning on Cherry Rd. Cherry Rd is one of the main throughways in the area and brings over 26,000 vehicles directly to the site daily, ensuring that there is a consistent traffic stream of potential customers.
- Excellent Demographics with Strong Growth Trends | There are over 62,000 individuals residing within a three-mile radius and over 103,000 individuals residing within a five-mile radius, highlighting the density of the area. The population has grown and is expected to continue growing in the near future.
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
5.75%
Cap Rate
5.75%
ROI
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