Express Oil & Tire Engineers | 15.5 Years NNN | 851 1st St N
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Express Oil & Tire Engineers | 15.5 Years NNN 851 1st St N
3,566 SF Retail Building Alabaster, AL 35007 £1,724,592 (£484/SF) 5.85% Net Initial Yield
Investment Highlights
- Corporately guaranteed lease | Backed by Mavis Tire Express Services Corp, the second largest independent auto service business in the U.S.
- 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
- Long-term, passive investment | ±15.5 years remaining on the absolute NNN lease | Zero Landlord responsibilities
- Directly across from Shelby Baptist Medical Center | 252-bed hospital
- Express Oil Change & Tire Engineers has ±350 locations across 19 states
Executive Summary
• 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 Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,566 SF
Building Class
C
Year Built
1997
Price
£1,724,592
Price Per SF
£484
Net Initial Yield
5.85%
NOI
£100,881
Tenancy
Single
Number of Floors
1
Building FAR
0.34
Land Acres
0.24 AC
Zoning
C - Commercial
Parking
12 Spaces (3.37 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
- Signalised Intersection
PROPERTY TAXES
| Parcel Number | 13-7-35-1-001-028-001 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £68,952 |
PROPERTY TAXES
Parcel Number
13-7-35-1-001-028-001
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£68,952
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Express Oil & Tire Engineers | 15.5 Years NNN | 851 1st St N
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