770.913.3900

Express Oil Change & Tire Engineers

Express Oil Change & Tire Engineers

6118 U.S. HWY 98

Hattiesburg, MS 39402

Corporate NNN Lease
New 20 - Year Sale-Leaseback

Contacts

Sean W. Patrick, CCIM

Senior Vice President, Investment Sales

770.913.3946

spatrick@ackermanco.net

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KB Yabuku

Vice President, Ackerman Retail Investment Sales

770.913.3917

kyabuku@ackermanco.net

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Overview

Ackerman Retail, a division of Ackerman & Co., is pleased to offer for sale the fee-simple interest in an Express Oil Change in Hattiesburg, MS. Express Oil Change is on a 20-year absolute triple net (NNN) lease with 10 percent rental escalations every five years throughout the initial term and the four, five – year renewal options. The sale is proposed to be a cash transaction and is offered free and clear of existing debt.

PROPERTY HIGHLIGHTS

  • Recent 20 Year Corporate Sale-Leaseback, Absolute NNN,10% rental increases every 5 years
  • Above Average Unit Level Rent to Sales Ratio
  • Strong Corporate Guaranty: Mavis Tire Express Services Intermediate Corp, the parent company of Express Oil Change, LLC (Over 1100 locations)
  • Area retailers include: Target, Academy Sports, Ross, T.J. Maxx, Walmart Supercenter, Lowe’s, Belk, Hobby Lobby
  • Less than a mile from Merit Health Wesley Hospital with 1,500 employees
  • More than 2,000 businesses within 5 miles
  • Close proximity to 845,104 SF Turtle Creek Regional Mall