Fort Worth, TX - Mavis Tires

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Mavis Tires & Brakes investment property located in Fort Worth, Texas. The tenant, Mavis Southeast LLC, recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The property may qualify for bonus depreciation, investors should confirm with their tax/legal advisor.

The property is located near the signalized hard-corner intersection of Basswood Blvd and N Blue Mound Rd which combine to average more than 51,300 vehicles passing daily. The asset is also located just over a mile from Interstate 35W, which sees over 185,200 VPD. The Mavis is a part of the Victory Shops at Basswood which includes other tenants such as Crunch Fitness, McDonald’s, Chipotle, Starbucks, Jersey Mike’s, Swig, and Chase Bank. In addition, the subject property is across from Basswood Village, a Kroger-anchored center with other national/credit tenants including CVS, Take 5 Car Wash, Pizza Hut, and many others. The Kroger ranks in the 95th percentile nationwide and 97th percentile in Texas for annual visits per Placer.ai. The asset is across from Saginaw High School, with a student population of over 2,200. The 5-mile trade area is supported by a population of over 294,300 residents and 76,500 employees with an average household income of $129,124. Fort Worth is the 10th most populous city in America with over 1 million residents and has grown almost 10% since 2020.

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Listing ID: a28TP000003WvXhYAK