604 Springridge Rd - Auto Repair FOR SALE


Clinton, MS 39056
$2,688,900 USD
212-430-5180
604 Springridge Rd, Clinton, MS for Sale
$2,688,900 USD
Auto Repair - FOR SALE
1/8
null | 6.75% Cap Rate

604 Springridge Rd
Clinton, MS 39056


HIGHLIGHTS

  • Absolute NNN Mavis Discount Tire w/No Landlord Management
  • Over 11 Years of Lease Base Term w/ Rent Increases
  • Lease Corporately Guaranteed by Express Oil Change LLC which Merged with Mavis Discount Tire in 2018
  • Active Retail Corridor with New Development
  • Just 10 Minutes from Jackson, the Capital of Mississippi
  • Sound Demographics Driving Store Performance

OVERVIEW

Absolute NNN (NNN) Mavis Discount Tire w/No Landlord Management Located on a Heavily Trafficked Section of Springridge Road (10,000 Vehicles Per Day (VPD)) in Clinton, Hinds County, MS. Subject Property Currently Has Over 11 Years Remaining on the Lease Base Term With 4, 5-Year Options Remaining and Attractive 10 Percent Rent Increases in Each Option to Hedge Against Inflation. Lease Corporately Guaranteed by Express Oil Change LLC which Merged with Mavis Discount Tire in 2018, the Largest Independent Tire Retail Dealership in the United States. Subject Property is Surrounded by a Host of Highly Active Businesses, Government Utilities, and Retailers Including QuikTrip (Built 2023), Dollar General, Circle K, Popeye’s, and Peoples Bank, Among Many Others. Clinton is Less Than 10 Driving Minutes from Jackson, MS - the Capital and Most Populous City in the State with Over 600,000 Residents Currently Living in the Metro Region. Situated in an Area with Over 55,000 People Living Within a 5-Mile Radius with an Average Annual Household Income Exceeding $67,000.

FOR SALE DETAILS

PRICE

$2,688,900 USD

PRICE/SF

$541 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mavis Discount Tire

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

-

APN/PARCEL ID

2862-0164-006

ASK ABOUT THIS PROPERTY

Christopher PappasMarcus & MillichapMore Info
212-430-5180

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Christopher PappasMarcus & MillichapMore Info
212-430-5180

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