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Auto Service - Gas-Conv

Tuffy Tire & Auto Service Center

400 S Euclid Ave, Bay City, MI 48706

Listing Price: $977,778

Cap Rate
6.75%
Tenant Name
Tuffy Tire & Auto Service Center
Years Remaining On Lease
9.7
Gross SF
5,680
Guarantor
Corporate Guarantee
Rentable SF
5,680
Price/Gross SF
$172.14
Lease Type
Absolute Net
Rent Per Square Feet
$11.62

Investment Overview

Built in 1980, this Tuffy Auto & Service Center is strategically positioned on South Euclid Avenue in Bay City, MI, situated directly on I-75B and less than 2 miles from I-75, a major throughfare throughout Eastern Michigan. With approximately 23,000 +/- Vehicles Per Day along South Euclid Avenue, this Tuffy store benefits from visibility along a strong retail corridor of Saginaw. Neighboring retailers include Walgreen’s, Hungry Howie’s, McDonalds, and Rite Aid as well as many others. The subject property is a 5680 square foot 8-bay building on approximately 0.42 acres.

This investment opportunity brandishes very favorable lease terms with an initial 20-year base term and operating history. The property began a freshly executed 10-year base term commenced on June 1st, 2023. The lease has two (2) 5-Year Options for Tenant Renewal and significant 7.5% rental increases every 5 years. The Guarantor on the lease is Gimex Properties Corp. Inc., a direct subsidiary of Tuffy Corporate, who is under an Absolute NNN Lease providing for zero landlord responsibilities.

Investment Highlights

  • Lease Commenced on June 1, 2023, and has 10 years remaining on the base term. The lease has two (2) - 5-year options for renewal with 7.5% rental escalations every 5 years.
  • The lease is corporately backed by Gimex Properties Corp, INC., who is owned and operated by Tuffy Corporate.
  • Tuffy Auto & Service has been a tenant since June 2003, with over 20 years' operating history at site locations.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Auto Service - Gas-Conv

Tuffy Tire & Auto Service Center

Listing Price: $977,778

Cap Rate
6.75%
Tenant Name
Tuffy Tire & Auto Service Center
Years Remaining On Lease
9.7
Gross SF
5,680
Guarantor
Corporate Guarantee
Rentable SF
5,680
Price/Gross SF
$172.14
Lease Type
Absolute Net
Rent Per Square Feet
$11.62

Investment Highlights

  • Lease Commenced on June 1, 2023, and has 10 years remaining on the base term. The lease has two (2) - 5-year options for renewal with 7.5% rental escalations every 5 years.
  • The lease is corporately backed by Gimex Properties Corp, INC., who is owned and operated by Tuffy Corporate.
  • Tuffy Auto & Service has been a tenant since June 2003, with over 20 years' operating history at site locations.

Investment Overview

Built in 1980, this Tuffy Auto & Service Center is strategically positioned on South Euclid Avenue in Bay City, MI, situated directly on I-75B and less than 2 miles from I-75, a major throughfare throughout Eastern Michigan. With approximately 23,000 +/- Vehicles Per Day along South Euclid Avenue, this Tuffy store benefits from visibility along a strong retail corridor of Saginaw. Neighboring retailers include Walgreen’s, Hungry Howie’s, McDonalds, and Rite Aid as well as many others. The subject property is a 5680 square foot 8-bay building on approximately 0.42 acres. This investment opportunity brandishes very favorable lease terms with an initial 20-year base term and operating history. The property began a freshly executed 10-year base term commenced on June 1st, 2023. The lease has two (2) 5-Year Options for Tenant Renewal and significant 7.5% rental increases every 5 years. The Guarantor on the lease is Gimex Properties Corp. Inc., a direct subsidiary of Tuffy Corporate, who is under an Absolute NNN Lease providing for zero landlord responsibilities.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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