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Mavis 2607 S Main St 5,866 SF Retail Building High Point, NC 27263 $2,615,385 ($445.85/SF) 5.85% Cap Rate
Investment Highlights
- Long Term Corporate Lease
- Minimal Landlord Responsibilties
- Strategic Location
- Fixed Rent Increase
- Strong Corporate Tenant
- Recession Resistant Investment
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a brand-new Mavis investment property located at 2607 South Main Street in High Point, North Carolina (the “Property”). The building has been redeveloped for Mavis and contains 5,886 square feet. The building was completed, and Mavis opened in April of 2023. Mavis has 17+ years remaining on their lease with four (4), 5-year renewal options. The Property is situated along South Main Street in a heavily developed commercial district that is centered around US Highways 29 and 70 in the south- end of High Point. The Property is across the street from a Walmart Supercenter and adjacent to an Aldi and enjoys outstanding visibility and frontage along South Main Street, the area’s primary commercial corridor. The Property is 0.5-miles from US Highways 29 and 70, 2-miles from Interstate 74 and 2.5-miles from Interstate 85. The trade area is surrounded by national retailers and manufacturing and warehouse properties that drive significant traffic to the area as well as a growing number of residential neighborhoods, providing a strong customer base.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,866 SF
Building Class
C
Year Built
2023
Price
$2,615,385
Price Per SF
$445.85
Cap Rate
5.85%
NOI
$153,000
Tenancy
Single
Building Height
1 Story
Slab To Slab
11’
Building FAR
0.13
Lot Size
1.01 AC
Zoning
RC - Residential -- allows for "cluster" development
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Mavis Discount Tire began as Vic’s Cycle Shop in 1949 in Westchester County, New York, and the business was renamed Mavis Tire Supply in 1972. Mavis Discount Tire later expanded carefully across the Northeast and, in 2018, merged with Express Oil Change & Tire Engineers and Brakes Plus to create a national automotive care platform. Today, Mavis Discount Tire operates within a family of brands that includes Mavis Tires & Brakes, Midas, NTB, Tire Kingdom, and others. The company provides tires, oil changes, brakes, alignments, batteries, suspension work, exhaust work, state inspections, and other auto repair services across the United States and Canada.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0179541 | Improvements Assessment | $393,200 |
| Land Assessment | $634,200 | Total Assessment | $1,027,400 |
Property Taxes
Parcel Number
0179541
Land Assessment
$634,200
Improvements Assessment
$393,200
Total Assessment
$1,027,400
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