Address: 125 Foxfield Way, Pooler, Georgia, United States 31322
Type: Auto Parts Retailer
Cap Rate: 5.75%
Lease Type: Triple-Net (NNN)
Annual Rent: $204,600
Net Operating Income: $204,600
Options: Four (4), Five (5)-Year Option Periods
Rentable Sq/Ft: 11,965 SF
Rent Sq/Ft: $17.1
Price Sq/Ft: $297
Lot Size: +/- 1.26 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Mavis Discount Tire located at 125 Foxfield Way in Pooler, Georgia. The site consists of roughly 11,965 rentable square feet of building space on estimated 1.26-acre parcel of land.
This Mavis Discount Tire is subject to a 20-year Absolute Triple-Net (NNN) lease, which commenced on March 16, 2015. The current annual rent is$204,600 and is scheduled to increase by ten (10%) percent every five (5) years. There are four (4), five (5)-year tenant renewal options.
The subject investment property features high visibility and ease of access on the corner of Foxfield Way and Barret Drive. This property is situated in an extremely dense retail outlet with large anchor tenants such as Home Depot, Walmart, Sam’s Club, among various other large retailers. This retail corridor borders the extremely active Interstate-95, experiencing average daily traffic counts exceeding 63,000 vehicles per day, and additionally experiences large volumes of daily traffic on Pooler Avenue, which brings an additional 17,000 vehicles into the immediate surrounding area each day. Average household income exceeds $86,000 for homes within three miles of the subject property. There are more than 18,000 individuals residing within a three-mile radius of the subject property and more than 42,000 individuals within a five-mile radius.
This Mavis Discount Tire is well-positioned in the center of a highly dense retail corridor located as an outparcel of a shopping center that is anchored by Home Depot, Target and Staples. Many national and local tenants surround the subject property, as well as shopping centers and academic institutions. Major national tenants in the immediate area include: Walmart, Home Depot, McDonald’s, Panera Bread, Chick-fil-A, T.J. Maxx, Buffalo Wild Wings, LongHorn Steakhouse, Olive Garden, Taco Bell, Chipotle, Truist Bank, Chili’s Grill & Bar, in addition to many others. The site is just under a 30-minute drive southeast to the vibrant Downtown Savannah, where a plethora of small businesses, restaurants and other merchants are located, along with Savannah State University, which boasts a total student enrollment exceeding 4,470. The Savannah International Airport, experiences a just under 2.8 million passengers per year, second to only Hartsfield-Jackson Atlanta International Airport, as the busiest Georgia airport. This subject Mavis Discount Tire investment property benefits from the abundance of hospitality accommodations in and around the dense retail corridor in which it is located; among those hotels: Holiday Inn & Suites, Red Roof Inn & Suites, Hampton Inn & Suites, Hilton Garden Inn, DoubleTree, Embassy Suites, among various others.
Savannah is the fifth-largest city and third-largest metropolitan area in Georgia. It is an industrial center and an important Atlantic seaport. Savannah’s downtown area, which includes the Savannah Historic District and the Savannah Victorian Historic District, is one of the largest National Historic Landmark Districts in the United States and attracts millions of visitors each year. Companies in Savannah flourish thanks, in part, to the city’s superior infrastructure and logistics. Logistics Today named Savannah “the most logistic friendly city in the nation” three years in a row, and Area Development Magazine Named Savannah “Top 5 for Best Cities with Port-related Intermodal Sites.” Savannah is ideally located at the crossroads of I-16 and I-95, and 80 percent of the United States population can be reached within a two-day drive. The Port of Savannah is the fourth-largest and second-busiest port in the nation, as well as the fastest-growing. With a strong manufacturing base, excellent port, rail, and highway access, a strong workforce development program and the only large deep-water industrial terminal complex with significant in-place infrastructure, Savannah is perfectly positioned to continue its track record of strong growth. While residents and visitors enjoy its rich historical tradition, Savannah continues to improve its business environment, infusing the area with advantages that benefit its major industries: manufacturing, distribution, tourism, military, port operations, health care, and innovative technology firms and entrepreneurs.
BROKER OF RECORD: Michael J. Fasano #352663