Marcus & Millichap is pleased to present the exclusive listing for a Mavis Discount Tire located at 3877 Centerville Rosebud Rd in Snellville, GA. The site consists of roughly 6,418 rentable square feet of building space on estimated 1.08-acre parcel of land.
This Mavis Discount Tire is subject to a 20-year Absolute Triple-Net (NNN) lease, which commences upon close of escrow. The annual rent is $85,000 and is scheduled to increase by five (5%) percent 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
About the Location:
✓ Dense Retail Corridor | Walmart, Walgreens, Publix, Wendy’s, Dollar Tree, Burger King, Advance Auto Parts, Chevron, McDonald’s, AutoZone, Domino’s, and Aldi
✓ Robust Demographics | Population Exceeds 127,150 Individuals Within a Five-Mile Radius
✓ Compelling Location Fundamentals | Less Than 30 Miles from Hartsfield-Jackson Atlanta International Airport (ATL) |Busiest Airport in the United States | Serves Over 100,000,000 Passengers Annually
✓ Strong Academic Presence | Within 10 Miles of Emory University | Over 15,000 Students Enrolled
✓ Strong Traffic Counts | Over 28,000 Vehicles Per Day on Centerville Highway
✓ Positive Real Estate Fundamentals | Within Twenty Miles of Downtown Atlanta
✓ Affluent Suburban Community | Average Income Within A 1-Mile Radius Exceeds $87,900
About the Tenant/Brand:
✓ Mavis is the second largest independent automotive service business in the U.S. with over 1,050 service centers in 29 states, $1.5 billion of revenue and industry-leading profit margins.
✓ Mavis has a best-in-class management team and operating culture and has generated the strongest and most consistent financial results in the industry with over 10 years of positive comparable sales growth.
✓ The company consists of three operating formats: Mavis Tire, Express Oil Change & Tire Engineers, and Brakes Plus
✓ Mavis was founded in 1972 and offers a diverse range of tire and mechanical services and exceptional customer service.
✓ Mavis has leading market share in its key regions (especially the Northeast), and a strong real estate profile with very well-maintained buildings and equipment.
✓ Mavis’ strong asset base leads to superior financial results; Mavis’ average unit volumes are approximately $1.5 million per store which is ~25% higher than Monro, the only competitor that is a public company.
✓ David and Stephen Sorbaro have been co-CEOs of Mavis for over 30 years.