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Updated: 04.13.24 Posted: 02.02.24 Status: Sold

Summary

Price $1,076,000 $1,076,000
Built/Renov 12800
Tenant MAACO
Cap Rate 7.25% 7.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1
Lease Start 05-01-2024
#Units 7
Price/SF $1,065,346.53 $1,065,346.53
Expiration 04-30-2034
Tenant Type Automotive
NOI $78,000
R. Term 8.11
Ownership Fee Simple
Rent/SF $77,227.72
Increases 10.0%/5/yrs
Pop 5Mi 150,067
Lot/AC 1.00
Options 3/5yrs/10%
AHHI 5Mi $65,975

Highlights

  • Maaco will be signing a brand-new 10-year lease with 3 (5-year) options to extend at the close of escrow
  • The lease features 10% rental increases every 5 years throughout they initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by MJW Investments, LLC

Location Description

MAACO is strategically located on West Burgess Road, with access to 8,500 vehicles passing by daily. The surrounding area features prominent national tenants like Wendy's, McDonald's, Family Dollar, and others. Additionally, the vicinity is home to several car dealerships, including Subaru, Honda, Hyundai, Ford, and more. The 5-mile trade area is supported by a population of 150,067 with an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: MAACO
  • Guarantor:Franchisee
  • Company:MJW Investments, LLC
  • # Units:7
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: DRVN

About Tenant

MAACO Collision Repair & Auto Painting is the leading franchisor of auto paint and collision repair shops. MAACO repairs accident damage, dents, and faded paint for nearly 500,000 drivers...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,019 59,446 154,453
2023 Total Population : 5,011 58,889 152,711
2023 Employed Civilian Pop : 2,354 28,797 73,368
2023 Total Businesses : 259 2,739 7,004
2023 Average Household Income : $ 56,717 $ 63,819 $ 70,140
2023 Total Consumer Spending : $ 110 M $ 1293 M $ 3789 M
2023 Median Age : 38 37 39
2023 Total Households : 2,192 23,065 61,792
2023 Pop Age 25+: Bachelor's Degree : 607 6,566 18,289
2023 Average Home Value : $ 194,608 $ 219,721 $ 241,887
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Burgess Road Maxam St 2021 9,000 0.09 mi
West Burgess Road Maxam St 2022 8,600 0.10 mi
E Burgess Rd N Palafox St 2009 9,900 0.26 mi
Pensacola Blvd Sloan Cir 2009 48,000 0.28 mi
Pensacola Boulevard I- 10 2022 38,000 0.36 mi
North Palafox Street Whitehead Dr 2021 19,000 0.36 mi
North Palafox Street Airport Blvd 2022 18,500 0.36 mi
Owens St 2022 4,000 0.40 mi
I-10/SR-8 EB Owens St 2021 5,000 0.40 mi
Diamond Rd Sloan Cir 2009 9,600 0.42 mi

Listing Broker

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