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Auto Service - Gas-Conv

Tuffy Tire & Auto Service Center

2929 Bay Rd, Saginaw, MI 48603

Listing Price: $950,000

Cap Rate
7.00%
Tenant Name
Tuffy Tire & Auto Service Center
Years Remaining On Lease
8.9
Gross SF
7,750
Guarantor
Corporate Guarantee
Rentable SF
7,750
Price/Gross SF
$122.58
Lease Type
Absolute Net
Rent Per Square Feet
$8.52

Investment Overview

Built in 1974, this Tuffy Auto & Service Center is strategically positioned on Bay Road in Saginaw, MI less than 2.5 miles from I-675 access, which connects directly to I-75, a major throughfare throughout Eastern Michigan. With approximately 29,300 +/- Vehicles Per Day along Bay Road and its neighboring Weiss Street this Tuffy store benefits from visibility along a strong retail and industrial corridor of Saginaw. Neighboring retailers include Walgreen’s, O’Reilly Auto Parts, Family Dollar, McDonalds, and 7-Eleven as well as many others. The subject property is a 7750 square foot 6-bay building on approximately 0.41 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
  • Corporate Guaranty: The lease is corporately backed by Gimex Properties Corp, INC., who is owned and operated by Tuffy Corporate
  • Long-Term Tenant: 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: $950,000

Cap Rate
7.00%
Tenant Name
Tuffy Tire & Auto Service Center
Years Remaining On Lease
8.9
Gross SF
7,750
Guarantor
Corporate Guarantee
Rentable SF
7,750
Price/Gross SF
$122.58
Lease Type
Absolute Net
Rent Per Square Feet
$8.52

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
  • Corporate Guaranty: The lease is corporately backed by Gimex Properties Corp, INC., who is owned and operated by Tuffy Corporate
  • Long-Term Tenant: Tuffy Auto & Service has been a tenant since June 2003, with over 20 years' operating history at site locations.

Investment Overview

Built in 1974, this Tuffy Auto & Service Center is strategically positioned on Bay Road in Saginaw, MI less than 2.5 miles from I-675 access, which connects directly to I-75, a major throughfare throughout Eastern Michigan. With approximately 29,300 +/- Vehicles Per Day along Bay Road and its neighboring Weiss Street this Tuffy store benefits from visibility along a strong retail and industrial corridor of Saginaw. Neighboring retailers include Walgreen’s, O’Reilly Auto Parts, Family Dollar, McDonalds, and 7-Eleven as well as many others. The subject property is a 7750 square foot 6-bay building on approximately 0.41 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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