Investment Overview

Marcus & Millichap is pleased to present for sale a Mavis Tire & Brakes, located at 4001 4th Street N, Saint Petersburg, Florida. This investment benefits from a 20 year corporate-backed ground lease, with 12 years left to the initial term and five options of five years each. There are 10 percent increases every five years, with the next increase scheduled in October 2027. Immediately adjacent to the Mavis is a Wendy’s ground lease which is also available. The location is fantastic. Just ten minutes outside Downtown St. Petersburg, this site is so strong that there are no less than three grocers within 500 feet and six in less than a mile. The brand new Whole Foods sits behind this property, with one of its access roads along the southern boundary of this development. Incredibly, Publix has two locations across the street from one another, just two blocks south of the Subject. Drive another half mile south, and one will pass a Gordon Food Service, Fresh Market, and Trader Joe’s. As though six grocers isn’t enough, additional retailers in the immediate area include two Starbucks just one half mile away from one another, Hooters, Bank of America, Chick-Fil-A, Burger King, McDonald’s, Chase, Walgreens, and many others. Driving this concentration of retail is the tremendous density in the area: 15,000 within one mile and 110,000 within three miles. Pinellas County is the most densely populated county in Florida, and being a peninsula, there is a shortage of commercial land. Consequently, commercial assets are in tremendous demand, and vacancy is virtually non-existent. Mavis Discount Tire is one of the largest independent automotive platforms in the United States. The company was founded as Mavis Tire Supply Corporation in 1972. It recently merged with Express Oil Change & Tire Engineers, Brakes Plus, and acquired Tire Kingdom, NTB, STS Tire, Melvin’s Tire, Jack Williams Tire, Tuffy Tire, Town Fair Tire, and Action Gator. Mavis now leads a combined company of more than 2,300 locations in 39 states across the East Coast, the South and the Midwest. Mavis is a publicly held company headquartered in Millwood, New York with over 10,000 employees. This Mavis offers an investor the opportunity to purchase a stable, zero management, ground lease with an excellent tenant in a tremendous location.