Mavis Discount Tire 604 Springridge Rd 4,970 SF Retail Building Clinton, MS 39056 $2,688,900 ($541.03/SF) 6.75% Cap Rate



INVESTMENT HIGHLIGHTS
- Absolute NNN Mavis Discount Tire w/No Landlord Management
- Lease Corporately Guaranteed by Express Oil Change LLC which Merged with Mavis Discount Tire in 2018
- Just 10 Minutes from Jackson, the Capital of Mississippi
- Over 11 Years of Lease Base Term w/ Rent Increases
- Active Retail Corridor with New Development
- Sound Demographics Driving Store Performance
EXECUTIVE SUMMARY
Absolute NNN (NNN) Mavis Discount Tire w/No Landlord Management Located on a Heavily Trafficked Section of Springridge Road (10,000 Vehicles Per Day (VPD)) in Clinton, Hinds County, MS. Subject Property Currently Has Over 11 Years Remaining on the Lease Base Term With 4, 5-Year Options Remaining and Attractive 10 Percent Rent Increases in Each Option to Hedge Against Inflation. Lease Corporately Guaranteed by Express Oil Change LLC which Merged with Mavis Discount Tire in 2018, the Largest Independent Tire Retail Dealership in the United States. Subject Property is Surrounded by a Host of Highly Active Businesses, Government Utilities, and Retailers Including QuikTrip (Built 2023), Dollar General, Circle K, Popeye’s, and Peoples Bank, Among Many Others. Clinton is Less Than 10 Driving Minutes from Jackson, MS - the Capital and Most Populous City in the State with Over 600,000 Residents Currently Living in the Metro Region. Situated in an Area with Over 55,000 People Living Within a 5-Mile Radius with an Average Annual Household Income Exceeding $67,000.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,970 SF
Building Class
C
Year Built/Renovated
2000/2015
Price
$2,688,900
Price Per SF
$541.03
Cap Rate
6.75%
NOI
$181,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.73 AC
Parking
15 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
100’ on Springridge Rd
NEARBY MAJOR RETAILERS








PROPERTY TAXES
Parcel Number | 2862-0164-006 | Improvements Assessment | $19,896 |
Land Assessment | $15,501 | Total Assessment | $35,397 |