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Express Oil Change

1417 Clay Ave, Panama City, FL 32401

Listing Price: $1,578,947

Cap Rate
4.75%
Tenant Name
Express Oil Change & Tire Engineers
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
2,440
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$30.74

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Express Oil Change located at 1417 Clay Ave in Panama City, Florida. The site consists of roughly 2,440 rentable square feet of building space on estimated 0.54-acre parcel of land. This Express Oil Change is subject to a 20-year Absolute Triple-Net (NNN) sale-leaseback, which will commence upon the close of escrow. The annual rent is$75,000 and is scheduled to increase by five percent (5%) every five (5) years. There are six (6), five (5)-year tenant renewal options.

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Auto Parts

Express Oil Change

Listing Price: $1,578,947

Cap Rate
4.75%
Tenant Name
Express Oil Change & Tire Engineers
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
2,440
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$30.74

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Express Oil Change located at 1417 Clay Ave in Panama City, Florida. The site consists of roughly 2,440 rentable square feet of building space on estimated 0.54-acre parcel of land. This Express Oil Change is subject to a 20-year Absolute Triple-Net (NNN) sale-leaseback, which will commence upon the close of escrow. The annual rent is$75,000 and is scheduled to increase by five percent (5%) every five (5) years. There are six (6), five (5)-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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