Mavis Discount Tire
Closed2214 Harrison Rd SE, Thomson, GA 30824
Property type
Retail
Unit / Space count
1
Price
$2,475,000
Building size
6,096 sf
Rentable area
6,096 SF
Year built
2023
Year renovated
Occupancy
Zoning code
Lot size
1.30 Acres
Sold/status
Sold · Date unknown
Sale price
$2475000
CAP
6.26%
Net Operating Income
$155,000
Property description
Franklin Street is pleased this under construction Mavis Discount Tire in Thomson, Georgia. Thomson is part of the Augusta metropolitan, which is home to over 600,000 residents and is continentally located I-20 in eastern Georgia. Being located just outside of Augusta, Thomson is just a little over an hour from Athens and the Atlanta MSA. Construction has began on the site and the store is expected to open for business April 2023, which would commence its 15-year lease. This location has rare 10% bumps every 5 years of the lease term as opposed to many of the other Mavis lease structures, which have 5% and 7.5% rental increases. The site is ideally located in the center of the town's retail corridor across from the Walmart Supercenter, which services a large trade area. There is not another Walmart for 60 miles to the west and 20 miles to the east. Mavis Discount Tire is one of the largest independent multi-brand tire dealers in the United States and offers a menu of additional services including brakes, alignments, suspension, shocks, struts, oil changes, battery replacement and exhaust work. Mavis was recently bought out by BayPine for $6B with plans to expand the brand rapidly across the US through acquisition of smaller brands and through new store development. The investment opportunity allows an investor a passive income stream from a market-leading brand in an Amazon-proof industry.
Property highlights
- New construction Mavis Discount Tire with 15-year lease in the Augusta GA MSA
- Rare 10% rental bumps every 5 years
- Across the street from a Walmart Supercenter: Walmart attracts 1.7M annual visits with 11.5 average annual trips
- NNN lease with no landlord responsibilities: tenant responsible for roof, structure, HVAC and parking lot repairs
- Surrounded by national retailers servicing a large trade area including: Tractor Supply, Dollar Tree, Cato, Family Dollar, AutoZone, O'Reilly Auto Parts, Walgreens, Popeyes, among others
- Corporate guarantee with 1,500+ locations and growing
- Mavis Discount Tire was recently acquired by BayPine for a $6B evaluation