Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$2,807,100
Express Oil Change & Tire Engineers Sale-Leaseback
Details
Property Type Retail
Sub Type Storefront, Auto Shop
Square Footage 4,551
Cap Rate 5.7%
NOI $160,000
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 2024
Acreage 0.700
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition Sale for leaseback
Mavis Guaranty (3,500+ Locations) | New 20-Yr Abs NNN
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.
Savannah is located on the Georgia coast and is known for its historical district and architecture, as well as its famous golf courses and beaches, which attract millions of tourists each year. More than 14 million people visit the region in a typical year, which provides a $3 billion economic impact to the local economy.
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.
- Densely-Populated Trade Area Just South of Downtown Savannah - Daytime Population Exceeds 201,287 People within a Five-Mile Radius
- Five Minutes from Savannah State University (Approximately 3,700 Students)
- Close Proximity to Some of Savannah's Largest Employers - Fort Stewart/Hunter Army Air Field (Approximately 6,580 Employees), St. Joseph's Candler (Approximately 4,963 Employees), and Memorial University Medical Center (Approximately 4,300 Employees)
- Easily Accessible Location Off Harry S Truman Pkwy (Approximately 55,500 Cars per Day)
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,000.00
$13,333.33/mo
Valuation Metrics
0
DSCR
5.7%
Cap Rate
5.7%
ROI
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