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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
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Long Term NNN Corp. Lease- Prominent Site | Express Oil
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