loader
Join Free
DOM: 358 Updated: 07.22.24 Posted: 03.27.23 Status: Sold 03.20.24

Summary

Price $4,199,482
Built/Renov 2023
Tenant Driver's Edge
Cap Rate 5.80%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 7,446
Lease Start 04-01-2023
#Units 350
Price/SF $563.99
Expiration 03-31-2043
Tenant Type Automotive
NOI $243,570
R. Term 17.11
Ownership Fee Simple
Rent/SF $32.71
Increases 10.0%/5/yrs
Pop 5Mi 210,921
Lot/AC 1.09
Options 4/5yrs/10%
AHHI 5Mi $132,905

Lease Highlights

  • New 2023 construction
  • Brand-new 20 year lease with 4 (5-year) options to extend
  • Lease features 10% rental inceases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate guarantee by Leonard Green & Partners

Location Description

This newly constructed Driver’s Edge Complete Tire and Auto Service is strategically located along Virginia Parkway, a major thoroughfare which sees 24,902 vehicles passing per day. Located within a dense retail corridor, the site is adjacent to a new Walmart center that had an average of ±40,000 visits per month in the last year. Other nearby major national tenants include Starbucks,...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Driver's Edge
  • Guarantor:Corporate
  • Company:Leonard Green & Partners
  • # Units:350
  • Stock:Private

About Tenant

GB Auto Service, Inc., dba Driver’s Edge is a leading provider of quality aftermarket automotive repair, maintenance, and tire services. The company originally started operations in 1999 under the...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,455 104,800 224,081
2023 Total Population : 10,194 101,325 211,481
2023 Employed Civilian Pop : 5,637 52,574 107,371
2023 Total Businesses : 191 3,217 6,586
2023 Average Household Income : $ 169,828 $ 140,596 $ 144,563
2023 Total Consumer Spending : $ 491 M $ 4346 M $ 9195 M
2023 Median Age : 37 36 35
2023 Total Households : 3,427 36,369 74,829
2023 Pop Age 25+: Bachelor's Degree : 2,673 24,318 49,938
2023 Average Home Value : $ 454,934 $ 441,741 $ 462,179
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Virginia Pkwy Hardin Rd 2011 25,569 0.05 mi
Sorrell Rd Gentle Creek Dr 2009 180 0.34 mi
Gentle Creek Dr White Rock Creek Dr 2004 1,980 0.41 mi
Hardin Blvd Sorrell Rd 2011 13,961 0.58 mi
North Hardin Boulevard Boyd Creek Rd 2020 11,084 0.61 mi
North Hardin Boulevard W University Dr 2021 13,855 0.61 mi
Hardin Rd White Ave 2011 10,233 0.71 mi
Jordan Road Virginia Pkwy 2020 2,410 0.71 mi
Virginia Parkway Lake Forest Dr 2020 25,578 0.73 mi
Virginia Pkwy Lake Forest Dr 2011 26,113 0.73 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity