Charlotte Retail for Sale - Northeast/I-77
Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., as exclusive advisors to the Seller, is excited to present investors with the opportunity to acquire a high-performing, net-leased Mavis Tires & Brakes in one of Charlotte’s fastest-growing residential and retail corridors (the “Property”). The Property is secured by a 100% absolute triple net lease to a corporate subsidiary of Express Oil Change, who merged with Mavis in 2018 (doing business as Mavis Tires & Brakes), offering investors zero landlord responsibilities and a reliable, long-term income stream. The tenant has operated at the site for nearly a decade, with over 10 years of remaining term on the base lease and 10% rental increases every five years, including in each of the four 5-year extension options. Situated on a 1.02-acre parcel with a well-maintained 10,521 square foot building, this offering provides durable cash flow, built-in rent growth, and minimal operational risk.
The tenant, T.E. LLC, is a subsidiary of Express Oil Change, one of the nation’s largest and most respected automotive service operators with over 390 locations across 19 states. The lease features a corporate guaranty from Express Oil Change, a core brand within the Mavis Tires & Brakes portfolio since the 2018 merger, which includes national service names like Brakes Plus, Town Fair Tire, and Tuffy Tire. With deep industry experience and private equity backing, Mavis is a dominant player in the e-commerce-resistant auto services sector.
Strategically located along Highland Shoppes Drive, just off Prosperity Church Road and highly visible from Charlotte’s I-485 Outer Loop, the Property benefits from affluent demographics and dense surrounding development. Over 65,000 residents with average household incomes exceeding $113,000 live within a 3-mile radius. The Property is adjacent to a drive-thru Bojangles, an IHOP-anchored strip center, and is shadow-anchored by Harris Teeter, with other nearby anchors including Publix and ALDI. The immediate area includes nearly 1,000 multifamily units within a quarter mile, and a growing retail corridor with robust traffic and daytime population.
The Property is surrounded by one of Charlotte’s most active residential pipelines, with a mix of completed, under-construction, and planned townhome and multifamily developments, including Highland Creek, Cardinal Point, and Prosperity Crossing, among others. In total, thousands of new residential units are being delivered or planned within a 3-mile radius, creating long-term demand drivers for neighborhood retail and services. Located in Charlotte, the 3rd fastest-growing major city in the U.S., and ranked among the top cities for business and quality of life, this offering is uniquely positioned at the intersection of institutional leasing, long-term demographic growth, and market momentum.
