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Express Oil Change

Panama City, Florida

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Marcus & Millichap is pleased to present the exclusive listing for an Express Oil Change located at 1417 Clay Avenue in Panama City, Florida. The site consists of roughly 2,440 rentable square feet of building space on estimated 0.54-acre parcel of land.
This Express Oil Change is subject to a 20-year Absolute Triple-Net (NNN) sale-leaseback, which will commence upon the close of escrow. The annual rent is$75,000 and is scheduled to increase by five percent (5%) every five (5) years. There are six (6), five (5)-year tenant renewal options.

About the Investment
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

Key Details

Price:
$1,578,947
Cap Rate:
4.75%
Annual Rent:
$75,000
Address:
1417 Clay Avenue, Panama City, Florida 32401
Property Type:
Net-Leased Automotive Service
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20.0 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20.0 Years
Rental Increases:
5% Every Five (5) Years
Lot Size:
0.54 Acres
Building Size:
2,440 SF
Tenant:
Express Oil Change

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Alexandre Marietto

License: 10401294047

Robert Stein

License: 10401341647

Nicole Lin

Broker of record

Ryan Nee

License: BK3154667


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