Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$3,043,478
Mavis Tires & Brakes Sale-Leaseback
Details
Property Type Retail
Sub Type Storefront, Auto Shop
Square Footage 6,137
Cap Rate 5.75%
NOI $175,000
Occupancy 100%
Tenancy Single
Brand/Tenant Mavis Discount Tires, Mavis Tire Supply
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options 6, 5 Year Options
Year Built 2024
Acreage 1.650
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Sale Condition Sale for leaseback
Absolute NNN 20 Year Lease | 5% Increases | Corporate Guaranty
Marketing description
As the largest multibrand tire dealer in the United States, Mavis operates over 3,500 service centers throughout the United States under a variety of operating formats, including: Mavis Tire, Express Oil Change & Tire Engineers, and Brakes Plus. Mavis generates approximately $2.4 billion in revenue annually. The Mavis brands are rapidly expanding with goals to add 100+ stores per year.
Greensboro is the third largest city in North Carolina, located in the Piedmont Triad region. Known for its Southern charm, affordable cost of living, and strong historical heritage, the city attracts residents and visitors with its extensive public parks, excellent gastronomy, and ample infrastructure.
Investment highlights
- Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
- 5% Rental Increases Every Five Years with Multiple Renewal Options
- Mavis Offers a Menu of Additional Services Including Brakes, Alignments, Oil Changes, Suspension, Shocks, Struts, Battery Replacement, and Exhaust Work
- Mavis is One of the Largest Independent Automotive Service Businesses in the United States with Over 3,500 Service Centers in the United States
- Situated within the Piedmont Triad Region, Part of the Greensboro/Winston-Salem MSA
- Average Household Income Exceeds $120,000 Within a 1-Mile Radius
- Adjacent to Harris Teeter and Lidl and Surrounded by Local Businesses and Retailers
- Easily Accessible by 19,900+ CPD on W Gate City Blvd, Providing a Direct Route to Downtown Greensboro
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$175,000.00
$14,583.33/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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