NNN Pro Group is pleased to present the exclusive listing for a Mavis located at 551 Academy Ave in Waynesboro, GA. The site consists of roughly 10,603 rentable square feet of building space on estimated 0.73-acre parcel of land. This Mavis is subject to a 20-year absolute triple-net (NNN) lease, which commences upon close of escrow. The current annual rent is $143,805 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 6, 5-year renewal options.
Long Term 20-Year Sale-Leaseback
Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
Attractive Rental Increases of Five Percent (5%) Every Five (5) Years
Six (6) Tenant Renewal Periods of Five (5) Years Each
✓ 20-Year Triple-Net (NNN) Lease: At closing the tenant will execute a brand new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities.
✓ Corporate Guaranty: The lease will carry a corporate guaranty from New Potato Creek Holdings, the corporate entity for Tidal Wave Auto Spa.
✓ Attractive Rental Increases: The lease will feature 2.00% annual rental increases that will continue through the base term and into the five, five-year tenant renewal option periods.
✓ Potential Tax Benefits: Qualifies for 80% Bonus Depreciation (please consult your CPA).
