Express Oil Change Ground Lease,
Anderson, SC Investment Summary
| Price | $2,452,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 years |
| Lease Type | Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance |
| Rental Increases | 7.5% rental increases every five (5) years |
| Year Built | 2019 (Under Construction) |
| Building Size | 5,646 total SF (4,428 SF building with 1,218 SF underground) |
| Lot Size | 1.09 acres (47,310 SF) |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE
» New 15-year absolute NNN ground lease with scheduled rental increases, providing a hedge against inflation
» No landlord obligations – ideal no-management investment for an out-of-area investor
» Corporate guaranty from Express Oil, which recently merged with Mavis, creating one of the largest independent automotive service platforms in the U.S., with more than 830 locations
HIGH-TRAFFIC LOCATION IN STRONG COMMERCIAL CORRIDOR
» Located at the hard corner of Holly Creek Drive and East Greenville Street, with excellent visibility and access to 27,000 vehicles per day directly in front of the
property
» Close to large shopping centers and notable retailers
» Within walking distance of both the Publix-anchored Anderson Pavilion shopping center and the Badcock Home Furniture-anchored Windsor Place shopping center
CENTRAL LOCATION NEAR SCHOLS, HOSPITALS, AND RESIDENTIAL NEIGHBORHOODS
» Directly across from McCants Middle School (675 students)
» Just over a mile from Anderson University, which has 3,500 students and 545 employees
» Within walking distance of the AnMed Health North Campus, which is home to most of AnMed Health’s outpatient and diagnostic services, as well as the AnMed Health Women’s and Children’s Hospital, where thousands of babies are born each year
» Surrounded by residential neighborhoods, with nearly 70,000 people living within a five-mile radius
NEW 2019 CONSTRUCTION
» High-quality construction completed in 2019
» New building, built to tenants latest prototype with six (6) bays
Property Description
Sold
The property is located at the hard corner of Holly Creek Drive and East Greenville Street, with excellent visibility and access to 27,000 vehicles per day directly in front of the property. East Greenville Street provides access to downtown Anderson, located just over two miles away. Located in a strong commercial corridor, the property is close to large shopping centers and notable retailers. The property is within walking distance of both the Publix-anchored Anderson Pavilion shopping center and the Badcock Home Furniture-anchored Windsor Place shopping center. Other major retailers in the nearby area include McDonald’s, CVS, Walgreens, Chick-fil-A, Advance Auto Parts, Verizon, Walmart Neighborhood Market, and 7-Eleven, amongst many others.
The property is centrally located near several schools, major healthcare facilities, and residential neighborhoods. McCants Middle School, with a total enrollment of 675 students, is directly across from the property. Anderson University, which has 3,500 students and 545 employees, is just over a mile away. The property is also within walking distance of the AnMed Health North Campus, which is home to most of AnMed Health’s outpatient and diagnostic services, as well as the AnMed Health Women’s and Children’s Hospital, where thousands of babies are born each year. Additionally, the property is surrounded by residential neighborhoods, with nearly 70,000 people living within a five-mile radius.
