Asking Price: $770,000
Building Size: 2,990 SQ FT
Lot Size: 24829
Cost per Square Foot: $257.53
Freestanding Absolute triple net lease with 3% annual increases through 2029. Automotive service shops have occupied this space for 26+ years and AAMCO recently inked a lease through March 2029 with no termination clause. The tenant just completed a $90K+ remodel in 2019, showing their commitment to the market and location. The vibrant downtown of Clovis attracts various quality tenants surrounding the location bringing great synergy for AAMCO to flourish. Well known and established Automotive building in a highly traveled area near Downtown Clovis. The freestanding building has a functional floor plan that the tenant has made substantial improvements to. Includes (6) Vehicle Bay Doors, (4) of which are Drive through, automotive lifts, and a +/-700 SF improved office/waiting area with HVAC. Sale does NOT include businesses - they are wonderful tenants that will secure your investment.
Key Points: Quality Franchisee with Four Active Locations Tenant in Expansion Mode Adding 3-4 Locations in Next 18 Months 10 Year Firm Term Through March 2029 Over 50 Years As One Of The Most Trusted Experts AAMCO Is The Most Trusted And Recognized "Automotive" Brands In The Country Absolute NNN Lease w/ Annual Increases: 7.75% Avg Cap Rate Express Lube Operating for 26+ Years at This Location +/- 2,990 SF Building: Significantly Improved on Tenants Dime Great Exposure with 170' Frontage on Villa Ave (1 Curb Cut) Surrounded with Quality Tenants - 48,884 Cars Per Day
Parking: 5.0 spaces per 1,000 sq. ft.