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Mavis Tire 1810 S Lake Dr 6,753 SF Retail Building Lexington, SC 29073 $4,011,630 CAD ($594.05 CAD/SF) 6.65% Cap Rate

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Investment Highlights

15 YEAR NET LEASE WITH RENT ESCALATIONS
LOCATED NEAR MARKET DRIVERS

BRAND NAME TENANT AND GUARANTOR

Executive Summary

15 YEAR NET LEASE WITH RENT ESCALATIONS
- 6+ years remaining term with 10% rental increase in year 11, and 10% increases for each 5-year option
- Corporate Guaranty by Mavis (2,100+ locations)
- Four (4) renewal options with 10% increase for each option
BRAND NAME TENANT AND GUARANTOR
- This location is corporately back by Mavis Tire
- Mavis acquired NTB and Tire Kingdom in May 2023
- Mavis has over 2,100 service centers, and roughly did over $2.4B of revenue
LOCATED IN MAJOR RETAIL CORRIDOR
- Fronting South Lake Dr (AADT 26,000)
- Over 720k SF of retail space within a 2 mile radius, boasting a 0.2% vacancy rate
- Outparcel to one of the top performing Walmart in the Country (2.4M visitors in trailing 12 months)
- Multiple national retail tenants are located near by include Lowes, Walmart, Aldi, Food Lion, and Publix
STRONG DEMOGRAPHICS
- Average Household Income exceeds $98k in a 5-mile radius
- Over 65K people live within a 5 mile radius
- Over 16K employees in a 5-mile radius
LOCATED NEAR MARKET DRIVERS
- Less than a mile to White Knoll High School - 2,165 students
- 1.2 miles (5-minute drive) to Saxe Gotha Elementary- 698 Students
- 2.6 Miles from Carolina Springs Middle School - 901 students
- Approximately 10 miles from Columbia, SC
COLUMBIA, SC MSA
- The South Carolina State Capital has an annual growth rate of 1.46% and has the population has grown more than 6% since 2020
- Columbia has a strong job market with projected job growth of over 27% in the next ten years
- Healthcare and Education industries are the major economic drivers

Lexington, SC_Mavis_6.65%

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Auto Repair

Building Size

6,753 SF

Building Class

Year Built

2017

Price

$4,011,630 CAD

Price Per SF

$594.05 CAD

Cap Rate

6.65%

NOI

$266,779 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.29

Lot Size

0.53 AC

Parking

30 Spaces (6 Spaces per 1,000 SF Leased)

Major Tenants

Retailer
6,753 SF
-
Mar 2032

Mavis Discount Tire permet aux gens d'économiser de l'argent sur les pneus depuis plus de 50 ans ! Bien que l'entreprise ait été fondée sous le nom de Mavis Tire Supply Corporation en 1972, ses origines remontent à 1949. Tout a commencé avec Vic's Cycle Shop, qui réparait les bicyclettes vendues par son voisin, un magasin de jouets. En un rien de temps, le minuscule atelier s'est forgé une excellente réputation en effectuant des réparations de bicyclettes apparemment impossibles. Elle s'est rapidement transformée en une entreprise mieux équipée et mieux capitalisée. Sa réputation de service axé sur la valeur s'est répandue dans de nombreux magasins. Un jour, un client a demandé au magasin de bicyclettes de réparer un pneu crevé sur sa voiture ! À l'aide d'outils de réparation de pneus de bicyclette, Victor a pu réparer le pneu et, peu de temps après, le magicien cycliste du quartier s'est retrouvé dans le commerce des pneus d'automobile. En 1965, Victor et son épouse Marion changent le nom de l'atelier pour « Vic the Tire King ». Avec leur nouveau nom et leur nouvelle orientation, les propriétaires sont devenus des pionniers de l'ère automobile en pleine expansion.