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Long Term NNN Corp. Lease- Prominent Site Express Oil 4,732 SF Retail Building Covington, LA 70433 $3,259,473 CAD ($688.82 CAD/SF) 6.15% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Newer 15 Yr. NNN Corp. Lease with Express Oil & Tire Engineers - Part Mavis Discount Tire Inc
  • Express Oil Part of one of the Largest Automotive Service Platforms in U.S. - 1100+ Locations
  • Zero LL Duties & Brand New 2020 Prototype Construction- Rare 2.5% Annual Bumps - Off Interstate 12
  • High Profile Retail Site next Sam’s Club/Target/Winn Dixie - Adjacent River Chase Power Center
  • Suburban City of New Orleans MSA- Tremendous Demo’s ($129,737 HHI) - World Class Tourism
  • Subsidiary of Golden Gate Capital w/ $19B+ in Assets - Rare Corp. Guarantee on Lease (Mavis Tire Corp)

EXECUTIVE SUMMARY

We are pleased to offer to qualified investors, an opportunity to acquire a corporate guaranteed absolute NNN single tenant net lease investment, occupied by Express Oil Change (guaranteed by Mavis Tire) on a 15 year base term with 5, 5 year options. The subject property is located along the one of the main North/South corridors through Covington, LA just off Interstate 12 and is positioned near major retailers such as Winn-Dixie, CVS, Walgreens, Target, Ross Dress for Less, Kohl’s Mercedes-Benz of Covington and more. This is an excellent opportunity to own a new construction, passive income generating investment on a long term 15-year lease that is corporate guaranteed with zero landlord responsibilities.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,732 SF
Year Built
2020
Price
$3,259,473 CAD
Price Per SF
$688.82 CAD
Cap Rate
6.15%
NOI
$200,322 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.31 AC

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Express Oil
  • Services
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Express Oil Services 99,999 SF - Lorem Ipsum Jan 0000

NEARBY MAJOR RETAILERS

PJ's Coffee
Hancock Whitney
First Horizon Bank
Starbucks
Chase Bank
Five Guys
Texas Roadhouse
Olive Garden
Buffalo Wild Wings
Chili's Grill & Bar

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
17775
Land Assessment
$0 CAD
Improvements Assessment
$69,193 CAD
Total Assessment
$69,193 CAD
  • Listing ID: 24663590

  • Date on Market: 2021-12-14

  • Last Updated:

  • Address: Express Oil, Covington, LA 70433

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