Mavis Discount Tire

Longview, TX

Key Details

Price:$2,450,000
Cap Rate:5.50%
Annual Rent:$134,750
Address:1231 West Loop 281, Longview, Texas 75605
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:20 Years
Lease Expiration:20 Years from Close of Escrow
Lease Term Remaining:20 Years
Rental Increases:5.00% Every 5 Years
Lot Size:1.00 Acres
Building Size:6,500 SF
Year Built:2022
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 1231 West Loop 281, Longview, Texas 75605. The site consists of roughly 6500 rentable square feet of building space on an estimated 1-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $134,750 and has scheduled increases of 5.00% Every 5 Years.

About the Investment

  • 20-Year Absolute Triple Net (NNN) Lease | At closing the tenant will execute a brand new 20-year absolute triple-net lease. The lease will have no landlord responsibilities.
  • Strong Corporate Guarantee | The lease will be subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, a 2000+ unit guarantee, the largest tire service operator in the US. Mavis currently operates the following brands with a highly diversified business mix: Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, and Town Fair Tire.
  • Recession Resistant Due to Non Discretionary Nature of Services | The tire services business is highly recession-resistant, during COVID-19, tire shops and maintenance centers experienced a 44% increase in revenues on average.
  • Attractive Rent Increases | The lease will feature scheduled increases of 5.00% every 5 years, hedging against inflation.

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Matthew Anuszkiewicz

manuszkiewicz@nnnpro.com
License: NY: 10401294046
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Robert Stein

rstein@nnnpro.com
License: NY: 10401341647

Broker of Record

Brian Brockman

Bang Realty-Texas, Inc
License: 701472
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.