Log In/Sign Up
Your email has been sent.
Long Term NNN Corp. Lease- Prominent Site Express Oil 4,732 SF Retail Building Covington, LA 70433 $2,335,000 ($493.45/SF) 6.15% Cap Rate
Investment Highlights
- Newer 15 Yr. NNN Corp. Lease with Express Oil & Tire Engineers - Part Mavis Discount Tire Inc
- Express Oil Part of one of the Largest Automotive Service Platforms in U.S. - 1100+ Locations
- Zero LL Duties & Brand New 2020 Prototype Construction- Rare 2.5% Annual Bumps - Off Interstate 12
- High Profile Retail Site next Sam’s Club/Target/Winn Dixie - Adjacent River Chase Power Center
- Suburban City of New Orleans MSA- Tremendous Demo’s ($129,737 HHI) - World Class Tourism
- Subsidiary of Golden Gate Capital w/ $19B+ in Assets - Rare Corp. Guarantee on Lease (Mavis Tire Corp)
Executive Summary
We are pleased to offer to qualified investors, an opportunity to acquire a corporate guaranteed absolute NNN single tenant net lease investment, occupied by Express Oil Change (guaranteed by Mavis Tire) on a 15 year base term with 5, 5 year options. The subject property is located along the one of the main North/South corridors through Covington, LA just off Interstate 12 and is positioned near major retailers such as Winn-Dixie, CVS, Walgreens, Target, Ross Dress for Less, Kohl’s Mercedes-Benz of Covington and more. This is an excellent opportunity to own a new construction, passive income generating investment on a long term 15-year lease that is corporate guaranteed with zero landlord responsibilities.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,732 SF
Year Built
2020
Price
$2,335,000
Price Per SF
$493.45
Cap Rate
6.15%
NOI
$143,505
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.31 AC
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Express Oil
- Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Express Oil | Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 17775 | Improvements Assessment | $49,568 |
| Land Assessment | $0 | Total Assessment | $49,568 |
Property Taxes
Parcel Number
17775
Land Assessment
$0
Improvements Assessment
$49,568
Total Assessment
$49,568
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Long Term NNN Corp. Lease- Prominent Site | Express Oil
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.