Listed by Summit Real Estate
$985,000
Pep Boys
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 3,000
Net Rentable (SqFt) 3,000
Cap Rate 6.25%
NOI $61,500
Occupancy 100%
Tenancy Single
Brand/Tenant Jiffy Lube, Firestone
Lease Type Absolute NNN
Lease Term 17
Lease Expiration 06/30/2033
Remaining Term 7.1
Rent Bumps Yes
Lease Options 1 x 7
Year Built 1990
Year Renovated 2017
Acreage 0.410
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/01/2016
Ground Lease No
Retail | 6.25% CAP | 3,000 SqFt
Marketing description
Pep Boys is an American automotive service and tire retailer. Pep Boys was founded in Philadelphia, Pennsylvania in 1921 by Navy veterans Manny, Moe, and Jack. Today it operates over 800 locations across the United States and Puerto Rico. Pep Boys locations provide tire sales, auto repair, oil changes, brake services, battery replacement, suspension and steering work, A/C repair, engine diagnostics, and other maintenance services performed by qualified technicians.
Investment highlights
- Absolute NNN Lease | Zero landlord responsibilities
- Corporate Guarantee | National brand with 750+ locations, providing strong credit and income security
- Early Lease Extension | Tenant renewed lease two years early demonstrating their commitment to the location
- Prime Retail Corridor | Positioned on Garth Rd with excellent visibility and exposure to 28,078 VPD
- Built-In Rent Growth | 3% annual escalations providing income growth outpacing inflation
- Surrounding National Retailers Include Target, Best Buy, Hobby Lobby, Luby's, Walgreens, CVS, NTB, Sonic, Capital Bank, Frost Bank, Jiffy Lube, Joe V's Smart Shop, Starbucks and Many More
Listing Contacts
Listed by Summit Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$61,500.00
$5,125.00/mo
Valuation Metrics
0
DSCR
6.24%
Cap Rate
6.24%
ROI
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