Long Term NNN Corp. Lease- Prominent Site
4,732 SF | Retail Building | Covington, LA 70433 | $2,391,750 ($505/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,391,750
- Property Type
-
Retail
- Square Feet
- 4,732 SF
- Price / Square Foot
- $505
Listing Contacts
Eric Carlton
Verified Profile
Jereme Snyder
Verified Profile
Paul Dominique
Verified Profile
- Property Info
Property Overview
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.
Property Details
- Year Built
- 2020
- Stories
- 1
- Property Subtype
- Freestanding, Vehicle Related, Service
- Lot Size (sq. ft)
- 57,064 SF
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)
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