Mavis Discount Tire | 1231 W Loop 281
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Mavis Discount Tire 1231 W Loop 281
6,416 SF Retail Building Longview, TX 75604 $2,450,000 ($382/SF) 5.50% Cap Rate
Investment Highlights
- At closing the tenant will execute a brand new 20-year absolute triple-net lease. The lease will have no landlord responsibilities.
- Recession Resistant Due to Non Discretionary Nature of Services
- The lease will be subject to a strong corporate guarantee from Mavis Tire Express Services
- Attractive Rent Increases | The lease will feature scheduled increases of 5.00% every 5 years, hedging against inflation.
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Mavis
Discount Tire located at 1231 W Loop 281, Longview, TX 75065.
The site consists of roughly 6,500 rentable square feet of building
space on an estimated 1-acre parcel of land. This Mavis Discount
Tire is subject to a 20-year Triple Net (NNN) lease which will
commence upon close of escrow. The annual rent will be
$134,750 and has scheduled increases of 5.00% Every 5 Years.
Discount Tire located at 1231 W Loop 281, Longview, TX 75065.
The site consists of roughly 6,500 rentable square feet of building
space on an estimated 1-acre parcel of land. This Mavis Discount
Tire is subject to a 20-year Triple Net (NNN) lease which will
commence upon close of escrow. The annual rent will be
$134,750 and has scheduled increases of 5.00% Every 5 Years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,416 SF
Building Class
B
Year Built
1998
Price
$2,450,000
Price Per SF
$382
Cap Rate
5.50%
NOI
$134,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.00 AC
Parking
26 Spaces (4.05 Spaces per 1,000 SF Leased)
Frontage
183 FT on West Loop 281
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 26104 | Improvements Assessment | $301,850 |
| Land Assessment | $88,900 | Total Assessment | $390,750 |
PROPERTY TAXES
Parcel Number
26104
Land Assessment
$88,900
Improvements Assessment
$301,850
Total Assessment
$390,750
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Mavis Discount Tire | 1231 W Loop 281
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