Lubbock, TX - Mavis Tires

Description:

6.5+ Years Remaining | Corporate Signature | Strong Store Performance (#3 In Texas) 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 Lubbock, Texas. The property has more than 6.5 years of lease term remaining with four (4) additional 5-year renewal options, providing stable in-place income with significant long-term extension potential. The lease features a 9.73% rental increase on April 1, 2028, followed by 10% rental increases at the beginning of each renewal option thereafter, providing contractual rent growth. The lease features a corporate signature through T.E., LLC, part of the Mavis platform formed by the 2018 merger of Mavis and Express Oil Change & Tire Engineers under Golden Gate Capital, now 3,500+ locations. The lease is absolute NNN with zero landlord responsibilities, providing an ideal, management-free investment opportunity for a passive or out-of-state investor. The location also demonstrates strong store performance, ranking as the #3 most-visited Mavis Tires & Brakes location in Texas according to Placer.ai. The property features strong frontage along Slide Road (36,600 VPD), providing excellent visibility and convenient customer access. The site is positioned within an established commercial node near national brands including Dairy Queen, KFC, and Bank of America, as well as Rockridge Plaza, a Food King-anchored shopping center attracting approximately 1.4 million annual visits according to Placer.ai. Lubbock is the 10th-largest city in Texas and experienced approximately 6.2% population growth between 2020 and 2025. The 5-mile trade area is supported by more than 212,000 residents and 91,900 employees, while the 1-mile trade area features an average household income of $120,065.

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Listing ID: a28TP000003QoAjYAK