Listed by Colliers - Los Angeles - Orange County, California, Colliers - Houston, Texas
$2,335,000
Express Oil
Details
APN 106-000-4154
Property Type Retail
Sub Type Auto Shop
Square Footage 4,732
Units 1
Cap Rate 6.15%
NOI $143,505
Tenancy Single
Brand/Tenant Express Oil
Lease Type NNN
Lease Term 15
Lease Expiration 12/31/2035
Remaining Term 9.4
Rent Bumps Yes
Lease Options 4-5 Year Options with 7.50% Increases Each Option
Price per SqFt $493
Year Built 2020
Buildings 1
Stories 1
Acreage 1.310
Lease Commencement 12/28/2020
Occupancy Date 12/28/2020
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 along the one of the main North/South corridors through Covington, LA just off Interstate 12 and is positioned near major retailers such as Winn-Dixie, CVS, Walgreens, Target, Ross Dress for Less, Kohl’s Mercedes-Benz of Covington and more. This is an excellent opportunity to own a new construction, passive income generating investment on a long term 15-year lease that is corporate guaranteed with zero landlord responsibilities.
Investment highlights
Newer 15 Yr. NNN Corp. Lease with Express Oil & Tire Engineers - Part Mavis Discount Tire Inc
High Profile Retail Site next Sam’s Club/Target/Winn Dixie - Adjacent River Chase Power Center
Express Oil Part of one of the Largest Automotive Service Platforms in U.S. - 1100+ Locations
Suburban City of New Orleans MSA- Tremendous Demo’s ($129,737 HHI) - World Class Tourism
Zero LL Duties & Brand New 2020 Prototype Construction - Rare 2.5% Annual Bumps - Off Interstate 12
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
$143,505.00
$11,958.75/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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