3104 Boones Creek Rd - Specialty FOR SALE


Johnson City, TN 37615
$2,956,500 USD
216-292-7006
3104 Boones Creek Rd, Johnson City, TN for Sale
$2,956,500 USD
Specialty - FOR SALE
1/6
null | 5.75% Cap Rate

3104 Boones Creek Rd
Johnson City, TN 37615


HIGHLIGHTS

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 5% Rental Increases Every Five Years with Multiple Renewal Options
  • Express Oil Change & Tire Engineers Operates 380+ Locations Across 19 States
  • Corporate Guaranty by Mavis Tire Express Services Corp., One of the Largest Independent Automotive Service Businesses in the United States
  • 54,025 Residents within a 5-Mile Radius in Growing Johnson City Trade Area
  • Average Household Income Exceeds $112,000 within 3 Miles of the Subject Property

OVERVIEW

Express Oil Change & Tire Engineers is an American automotive maintenance brand with services including its signature 10 minute oil change, in addition to full-service mechanical, tires, brakes, and more general service offerings. The brand operates over 380 locations across 19 states. Mavis has been saving people money on tires for more than 50 years. While the company was founded as Mavis Tire Supply Corporation in 1972, its roots can be traced back to 1949. Originally a bicycle shop, the family owned business became a tire shop by filling a neighborhood need to work on automobile tires and quickly grew their reputation and customer base. By 1971, Mavis had become a three-store chain and a neighborhood staple. In 1972, striving for a more professional image, the operating name was changed to Mavis Tire Supply, one of the first multi-brand tire dealers in the New York area. In 1988, management of the family owned business was passed on to the next generation. Located in the foothills of the Appalachian Mountains, Johnson City, Tennessee combines big-city amenities, small-town Southern charm, and world-class outdoor recreation. Johnson City is in Washington, Carter, and Sullivan counties of Tennessee, mostly in Washington County. As of the 2020 United States census, the population was 71,046, making it the eighth largest city in Tennessee.

FOR SALE DETAILS

PRICE

$2,956,500 USD

PRICE/SF

$1,478 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Express Oil Change & Tire Engineers

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,949 SF

ZONING

A

APN/PARCEL ID

021-085.19

ASK ABOUT THIS PROPERTY

Alex FrankelMarcus & MillichapMore Info
216-292-7006

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Alex FrankelMarcus & MillichapMore Info
216-292-7006

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