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9875 Johnstown RdNew Albany, OH 43054
Express Oil Change & Tire Engineers - 9875 Johnstown Rd
Asset ClassRetail
Cap Rate5.25%
Cap Rate: 5.25%Square Feet: 2,212Weighted Average Lease Term: 20 YearsAccess Data Room
New 20-Year Absolute Triple-Net Lease in New Construction Grocery Anchored Retail Center
overview of deal

Overview

Price: $3,790,000

Cap Rate: 5.25%

Tenant: Mavis Express Services

Lot Size (AC): 0.42

Building Size (SF): 2,212

Year Built: 2013

Remaining Lease Term: 20 Years

Lease Type: Absolute Triple-Net (NNN)

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Investment Highlights

Cap Rate
5.25%
Land
0.42 Acres
Weighted Average Lease Term
20 Years
  • New 20-Year Absolute Triple-Net (NNN) Lease
  • Attractive 10% Increases every 5 years and 4 x 5-Year Options
  • Mavis Express Services TopCo Corp. Guaranty - Best In Class Guarantee - 1,995 units including all Express Oil Change (356 locations), Brakes Plus (155 locations), and Mavis Tires & Brakes (1,484 locations)
  • New Construction Auto-Repair Building Delivered in 2022 with 6 Service Boys
  • Located in new construction grocery anchored retail center, Aldi anchors the 2022 delivered center that also houses Dunkin and a Sheetz Gas Station. Express Oil Change is directly next to Aldi, driving traffic to the subject property
  • Direct visibility along Johnstown Rd (US-62) seeing 24,000+ VPD. The subject property is also located along a highway exit with the New Albany Bypass which sees over 50,000 VPD
  • Adjacent to Zarley Industrial Park which contains over 100,000 SF of industrial properties and tenants
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9875 Johnstown RdNew Albany, OH 43054

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Listing provided by Revere CRE