Listed by SURMOUNT
$3,148,148
Mavis Tires & Brakes
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,952
Cap Rate 5.40%
NOI $170,000
Tenancy Single
Brand/Tenant Express Oil, Mavis Discount Tires
Lease Type NNN
Lease Term 20
Remaining Term 20
Year Built 2025
Acreage 1.000
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 25242 Farm to Market Road 1093, Katy, TX 77494. The site consists of roughly 6,952 rentable square feet of building space on an estimated 1-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 $170,000 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.
- Outstanding Demographics | Extremely Affluent Community | Strong Growth Trends | Average household income exceeds $165,000 within a one-mile radius, $172,000 within a three-mile radius, and $167,000 within a five-mile radius of the subject property. Population counts are also strong, exceeding 15,000 within one mile, 97,000 within three miles, and 225,000 within five miles, with extremely high growth trends over the past five years which is expected to continue.
- Outparcel to Lowe’s | Surrounded by Strong Anchor Tenants | The subject property is strategically positioned as an outparcel to a Lowe’s, across the street from a H-E-B grocery store, and right near other national tenants such as a Walmart Supercenter, Kroger, Petco, McDonald’s, Starbucks, Chipotle, and many more. All these tenants help drive consistent consumer traffic in the immediate area.
- Income Tax-Free State | The subject property benefits from its location in Texas, an income tax-free state. Ownership of an asset in an income-tax free state can provide several benefits to landlords, providing greater incentive for investment. Discuss with a Certified Public Accountant for further details.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,000.00
$14,166.67/mo
Valuation Metrics
0
DSCR
5.4%
Cap Rate
5.4%
ROI
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