Express Oil & Tire Engineers | 15.5 Years NNN
3,566 SF | Retail Building | Alabaster, AL 35007 | $2,183,000 ($612/SF) | 5.85% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,183,000
- Property Type
-
Retail
- Square Feet
- 3,566 SF
- Price / Square Foot
- $612
Listing Contacts
Cortland Lioi
Verified Profile
Gary Chou
Verified Profile
Zack Williams
Verified Profile
Matt Coates
Verified Profile
Rad Werssowetz
Verified Profile
- Property Info
Property Overview
• Corporately guaranteed lease | Lease is backed by Mavis Tire Express Services Corp, which is the second largest independent auto service
business in the U.S. with 2,000+ service centers in 38 states | $3B of revenue and industry leading profit margins
– The parent company consists of five operating formats: Mavis Tire, Express Oil Change & Tire Engineers, Brakes Plus, Nation Tire & Battery, and Tire Kingdom
– Express Oil Change & Tire Engineers has ±350 locations across 19 states
• Long-term, passive investment | ±15.5 years remaining on the absolute NNN lease | Zero Landlord responsibilities
• Excellent access and visibility from 1st St (aka Hwy 119) which sees a robust ±52,620 VPD
• 10% rent increases every 5 years throughout initial terms and options, providing a great hedge against inflation
• Directly across from Shelby Baptist Medical Center | 252-bed hospital
• Site is walking distance to well known retailers such as ALDI, Big Lots, Staples, Arby’s, Jersey Mike’s, Jack’s, Sonic, AutoZone, Papa Johns,
Little Caesars, Crunch Fitness, Dollar General, Subway, among others
• About 2 miles from:
– I-65 | ±85,430 VPD
– Alabaster Promenade | 411,000+ SF shopping center anchored by Target, JCPenney, and DICK’S | Other tenants include HomeGoods, T.J. Maxx, ULTA, PetSmart, Panera Bread, among others
– Colonial Promenade | 722,300+ SF shopping center anchored by Lowe’s, Belk, and Ross
– Propst Promenade | Walmart Supercenter-anchored shopping center
business in the U.S. with 2,000+ service centers in 38 states | $3B of revenue and industry leading profit margins
– The parent company consists of five operating formats: Mavis Tire, Express Oil Change & Tire Engineers, Brakes Plus, Nation Tire & Battery, and Tire Kingdom
– Express Oil Change & Tire Engineers has ±350 locations across 19 states
• Long-term, passive investment | ±15.5 years remaining on the absolute NNN lease | Zero Landlord responsibilities
• Excellent access and visibility from 1st St (aka Hwy 119) which sees a robust ±52,620 VPD
• 10% rent increases every 5 years throughout initial terms and options, providing a great hedge against inflation
• Directly across from Shelby Baptist Medical Center | 252-bed hospital
• Site is walking distance to well known retailers such as ALDI, Big Lots, Staples, Arby’s, Jersey Mike’s, Jack’s, Sonic, AutoZone, Papa Johns,
Little Caesars, Crunch Fitness, Dollar General, Subway, among others
• About 2 miles from:
– I-65 | ±85,430 VPD
– Alabaster Promenade | 411,000+ SF shopping center anchored by Target, JCPenney, and DICK’S | Other tenants include HomeGoods, T.J. Maxx, ULTA, PetSmart, Panera Bread, among others
– Colonial Promenade | 722,300+ SF shopping center anchored by Lowe’s, Belk, and Ross
– Propst Promenade | Walmart Supercenter-anchored shopping center
Property Details
- Class
- C
- Year Built
- 1997
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding
- Lot Size (sq. ft)
- 10,454 SF
Highlights
- Corporately guaranteed lease | Backed by Mavis Tire Express Services Corp, the second largest independent auto service business in the U.S.
- Long-term, passive investment | ±15.5 years remaining on the absolute NNN lease | Zero Landlord responsibilities
- Excellent access and visibility from 1st St (aka Hwy 119) which sees a robust ±52,620 VPD
- Directly across from Shelby Baptist Medical Center | 252-bed hospital
- 10% rent increases every 5 years throughout initial terms and options, providing a great hedge against inflation
- Express Oil Change & Tire Engineers has ±350 locations across 19 states
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