x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Express Oil Change, Concord , NC

Express Oil Change

Concord, North Carolina

Price $2,950,000
Cap Rate 5.00%
NOI $147,500*
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 7.5% Rental Increases Every Five (5) Years After Year 10
Year Built 2022
Building Size 4,630 SF With Eight (8) Service Bays
Lot Size 0.645 Acres (28,096 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG AUTO SERVICE TENANT
» Express Oil, which merged with Mavis, is one of the largest independent automotive service platforms in the United States with over 1,000 locations combined
» New 15-year absolute NNN lease with scheduled rental increases
» 7.5% rental increases every five (5) years after year 10 of the lease, providing a hedge against inflation
» Requires zero landlord management, ideal for an out-of-area investor

LOCATED IN A FIRMLY ESTABLISHED AND AFFLUENT AREA
» Convenient access to 21,000 vehicles per day along George W. Liles Parkway
» Beneficial proximity to Concord thoroughfares, including Poplar Tent Road and Interstate 85 (148,000 combined AADT)
» 104,223 residents live within a five-mile radius, creating a stable customer base for Express Oil
» Average annual household income of $123,772 within a one-mile radius of the property
» Projected 11 percent average annual household income increase within one mile of the site in the next five years, poising Express Oil Change and Concord for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» 1.5 miles from International Business Park (500 acres, 30 businesses, 3,000+ employees)
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Target, Marshalls, DICK’S Sporting Goods, Publix, Heartland Dental (under construction), Harris Teeter, Food Lion, and many more
» Five miles from Charlotte Motor Speedway ($451 million annual economic impact, 1.5 million annual visitors)
» Common gateway to Downtown Charlotte, the most populous city in North Carolina (population 874,579)

NEW 2022 CONSTRUCTION
» 2022 construction featuring two buildings with eight (8) service bays
» Features latest store designs and concepts



Property Description

The property is located along George W. Liles Parkway, which experiences 21,000 vehicles per day passing in front of the site. The location maintains a beneficial proximity to highly trafficked Concord thoroughfares, including Poplar Tent Road and Interstate 85 (combined 148,000 AADT). The site serves 104,223 residents living within a five-mile radius of the location. The property is located in an established area, with an average annual household income of $123,772 within a one-mile radius of the site. The average annual household income within one mile is projected to increase 11 percent in the next five years, poising Express Oil Change and Concord for concurrent growth.

The property is centrally located near large employers, retailers, and community hubs. The site is 1.5 miles from International Business Park, featuring 500 acres, 30 businesses, and 3,000+ employees. The property is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Target, Marshalls, DICK’S Sporting Goods, Publix, Heartland Dental (under construction), Harris Teeter, Food Lion, and many more. The site also resides five miles from Charlotte Motor Speedway, which generates $451 million in annual economic impact and attracts 1.5 million annual visitors. Additionally, the location serves as a common gateway to Downtown Charlotte, the most populous city in North Carolina (population 874,579).

Contact Us About This Property

Mike & Scott & Vince & Ryan Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link