Listed by Colliers - Los Angeles - Orange County, California, Colliers - Houston, Texas
$2,215,000
Express Oil Change
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 4,732
Cap Rate 6.15%
NOI $136,327
Occupancy 100%
Tenancy Single
Brand/Tenant Express Oil
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 12/31/2035
Remaining Term 9.6
Price per SqFt $468
Broker Co-Op Yes
Acreage 0.830
Investment Type Net Lease
Lease Commencement 12/18/2020
Retail | 6.15% CAP | 4,732 SF
Marketing description
We are pleased to offer to qualified investors, an opportunity to acquire a corporate guaranteed absolute NNN single tenant net lease investment, occupied by Express Oil Change (guaranteed by Mavis Tire) on a 15 year base term with 5, 5 year options. The subject property is located on Thomas St. (US Hwy 190) in Hammond, LA next to major retailers such as Walmart Supercenter, Hobby Lobby, Winn-Dixie, Ross Dress for Less, Lowe’s, Albertson’s and more. Additionally, the subject property sees over 23,500 VPD and is well positioned to benefit easy access from both right and left turns into the property. This is an excellent opportunity to own a brand new construction, passive income generating investment on a long term 15-year lease that is corporate guaranteed with zero landlord responsibilities.
Investment highlights
- Brand New 15 Yr. NNN Corp. Lease with Express Oil & Tire Engineers - Part of Mavis Tire
- High Profile Retail Corridor next to Walmart/Lowe’s - Adjacent to Town & Country Plaza
- Express Oil Part of one of the Largest Automotive Service Platforms in U.S. - 1100+ Locations
- Suburban City of New Orleans - Site near Southeastern Louisiana University - over 15K Students
- Main & Main Retail Trade Area along Hwy 190 - Zero LL Duties - Brand New 2020 Prototype Construction
- Subsidiary of Golden Gate Capital w/ $19B+ in Assets - Rare Corp. Guarantee on Lease (Mavis Tire Corp)
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California, Colliers - Houston, Texas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,327.00
$11,360.58/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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