Marcus & Millichap is pleased to present the exclusive listing for a Mavis Discount Tire located at 7801 Garners Ferry Road, South Carolina. The site consists of roughly 6,730 rentable square feet of building space on estimated 1.15-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 $135,000 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, Chick-fil-A, CVS, Bank of America, McDonald’s, Aldi, Lowe’s, Ford, Firestone, Wendy’s, Tractor Supply Company, Pizza Hutt, Burger King, GameStop, Popeyes, and Many More
✓ Compelling Real Estate Fundamentals | Seven Miles Southeast of University of South Carolina | Over 34,000 Students Enrolled | Williams-Brice Stadium | Stadium Capacity Exceeds 80,000 Patrons
✓ Ease of Access and Visibility | Situated on a Hard Corner & Signalized Intersection
✓ Exceptional Traffic Counts | Interstate-77 & Garners Ferry Road | 36,600 & 64,800 Average Daily Vehicles, Respectively
✓ Proximity to Hospitality Accommodations | Hampton Inn & Suites, La Quinta Inn, Hampton Inn & Suites, Hilton Columbia Center, DoubleTree, Home2Suites, Rodeway Inn, Among Various Others
✓ Robust Demographics | Over 79,400 Individuals Within a Five-Mile Radius & 252,100 Individuals Within a Ten-Mile Radius
✓ Affluent Suburban Market | Average Household Income Within a Five-Mile Radius Exceeds $81,400
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.