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Mavis Tire 1810 S Lake Dr 6,753 SF Retail Building Lexington, SC 29073 $2,940,000 ($435.36/SF) 6.65% Cap Rate
Investment Highlights
- 15 YEAR NET LEASE WITH RENT ESCALATIONS
- LOCATED NEAR MARKET DRIVERS
- BRAND NAME TENANT AND GUARANTOR
Executive Summary
- 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
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 6,753 SF
- -
- Mar 2032
Mavis Discount Tire has been saving people money on tires for more than 50 years! While the company was founded as Mavis Tire Supply Corporation in 1972, its roots can be traced back to 1949. It all started with Vic's Cycle Shop, which repaired bicycles sold by its neighbor, a toy shop. In no time at all, the tiny shop developed a great reputation for performing seemingly impossible bicycle repairs. It quickly grew into a better equipped, better capitalized business. Its reputation of Value Oriented Service spread far and wide store building. One day, a customer requested that the bicycle shop repair a flat tire on his car! Using bicycle tire repair tools, Victor was able to repair the tire and, before long, the neighborhood's bicycle wizard found himself in the automobile tire business. In 1965 Victor and his wife, Marion changed the shop's name to 'Vic the Tire King'. With their new name and focus, the owners became pioneers in the vastly expanding automotive era.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 6,753 SF | - | Mar 2032 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 007600-04-123 | Improvements Assessment | $30,102 |
| Land Assessment | $44,485 | Total Assessment | $74,587 |
Property Taxes
Contacts
-
David Hoppe -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
Presented by
Mavis Tire | 1810 S Lake Dr
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