Les Schwab Tires - 20 Yr Ground Lease | 2306 S Mentzer St
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Les Schwab Tires - 20 Yr Ground Lease 2306 S Mentzer St
11,480 SF 100% Leased Retail Building Mitchell, SD 57301 £1,453,618 (£127/SF) 5% Net Initial Yield
Investment Highlights
- Brand New 20-Year Absolute Triple-Net (NNN) Corporate Ground Lease
- New High-Quality 2024 Construction
- 10 Percent Rental Increases Every Five Years with Six, Five Year Renewals
- Exceptional Residual Value - Value of Improvements well Exceeds Purchase Price
- Pinned between a Super Walmart & Menard's
Executive Summary
Les Schwab Tire Centers is a well-known, family-owned business primarily focused on selling tires, wheels, and automotive services. Founded in 1952 by Les Schwab in Prineville, Oregon, the company has grown into one of the largest independent tire dealers in the United States. It operates hundreds of retail locations primarily in the western United States, including Oregon, Washington, California, Idaho, Nevada, and other states in the Pacific Northwest and Rocky Mountain regions.
Mitchell, South Dakota, is a small city located in the southeastern part of the state, roughly 60 miles west of Sioux Falls, the largest city in South Dakota. As of the 2020 census, Mitchell has a population of around 15,000 people. It's the county seat of Davison County and serves as a regional hub for commerce, education, and services in the area. Mitchell is home to several public schools, as well as Mitchell Technical College, which offers a range of vocational and technical training programs.
Mitchell, South Dakota, is a small city located in the southeastern part of the state, roughly 60 miles west of Sioux Falls, the largest city in South Dakota. As of the 2020 census, Mitchell has a population of around 15,000 people. It's the county seat of Davison County and serves as a regional hub for commerce, education, and services in the area. Mitchell is home to several public schools, as well as Mitchell Technical College, which offers a range of vocational and technical training programs.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
11,480 SF
Building Class
B
Year Built
2024
Price
£1,453,618
Price Per SF
£127
Net Initial Yield
5%
NOI
£72,681
Percent Leased
100%
Number of Floors
1
Building FAR
0.12
Land Acres
2.12 AC
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Les Schwab Tires - 20 Yr Ground Lease | 2306 S Mentzer St
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