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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

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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

Auto Repair

Building Size

5,866 SF

Building Class

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

Retailer
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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.