Express Oil - Freestanding FOR SALE


Covington, LA 70433
$2,335,000 USD
949-903-3399
Express Oil, Covington, LA for Sale
$2,335,000 USD
Freestanding - FOR SALE
1/4
null | 6.15% Cap Rate

Express Oil
Covington, LA 70433


HIGHLIGHTS

  • Newer 15 Yr. NNN Corp. Lease with Express Oil & Tire Engineers - Part Mavis Discount Tire Inc
  • High Profile Retail Site next Sam’s Club/Target/Winn Dixie - Adjacent River Chase Power Center
  • Express Oil Part of one of the Largest Automotive Service Platforms in U.S. - 1100+ Locations
  • Suburban City of New Orleans MSA- Tremendous Demo’s ($129,737 HHI) - World Class Tourism
  • Zero LL Duties & Brand New 2020 Prototype Construction- Rare 2.5% Annual Bumps - Off Interstate 12
  • Subsidiary of Golden Gate Capital w/ $19B+ in Assets - Rare Corp. Guarantee on Lease (Mavis Tire Corp)

OVERVIEW

We are pleased to offer to qualified investors, an opportunity to acquire a corporate guaranteed absolute NNN single tenant net lease investment, occupied by Express Oil Change (guaranteed by Mavis Tire) on a 15 year base term with 5, 5 year options. The subject property is located along the one of the main North/South corridors through Covington, LA just off Interstate 12 and is positioned near major retailers such as Winn-Dixie, CVS, Walgreens, Target, Ross Dress for Less, Kohl’s Mercedes-Benz of Covington and more. This is an excellent opportunity to own a new construction, passive income generating investment on a long term 15-year lease that is corporate guaranteed with zero landlord responsibilities.

FOR SALE DETAILS

PRICE

$2,335,000 USD

PRICE/SF

$493 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long Term NNN Corp. Lease- Prominent Site

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.31 AC

LAND SF

57,064 SF

ZONING

-

APN/PARCEL ID

17775

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.