OFFERING SUMMARY
Price: $1,632,000
Cap Rate: 5.50%
Gross Leasable Area: 7,800 SF
NOI: $89,760
OFFERING HIGHLIGHTS
- Corporate Backed, Absolute Net Lease
- 14+ Years of Lease Term Remaining
- 10% Increases Every Five Years
- Established Automotive Operating History
- Mavis Purchased Operations in 2017
INVESTMENT OVERVIEW
Marcus & Millichap is pleased to present a recently extended, corporately guaranteed Mavis in Eunice, Louisiana. The absolute net provides an incoming investor with a corporately backed long term, management-free lease at a location with a long term, well established and successful automotive history. When Mavis purchased the operations in 2017 they signed a brand new, 20-year absolute net lease with sustainable rent.
The property itself benefits from strong visibility, seeing over 14,800 vehicles per day, and has a dense population within a two, five, and ten-mile radius of the site. Already benefiting from several strong tenants in the immediate area including Tractor Supply, Walmart, Popeyes and Taco Bell, this location has also seen growth in recent years as development is occurring all around the property including a new bank being built directly across the street.
