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