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Auto Parts

Service King - Early 5 Year Lease Renewal

5475 Fox Plaza Dr, Memphis, TN 38115

Listing Price: $1,829,000

Cap Rate
6.00%
Tenant Name
Service King
Years Remaining On Lease
6.1
Gross SF
16,000
Guarantor
Corporate Guarantee
Rentable SF
16,000
Price/Gross SF
$114.31
Lease Type
Double Net
Rent Per Square Feet
$6.86

Investment Overview

Service King strives to be the collision repair operator of choice by providing a secure, fulfilling workplace that motivates its teammates to deliver safe, superior repairs with excellent customer service while ensuring sustainable, profitable growth and opportunity. In 2014, Service King acquired Sterling Auto Body Centers and its 62 collision repair centers across 16 U.S. states. The deal marked the largest acquisition in collision repair industry history, establishing the national footprint and future strategy for growth. Today, Service King remains the collision repair operator of choice across the U.S. with 335 locations in 24 states and plans to continue growing. Memphis is a city in southwestern Shelby County, Tennessee, located along the Mississippi River. The city’s estimated 2020 population was over 633,100 residents, making it the state’s second-most populous city behind Nashville. It is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and Missouri. The Memphis metro spans 3,000 square miles over nine counties in the states of Tennessee, Mississippi, and Arkansas. Greater Memphis contains nearly 1.4 million residents, with more than 951,000 residing in Shelby County. Memphis is a regional center for commerce, education, media, and entertainment.

Investment Highlights

  • Six Years Remaining on Corporate Lease Term with Service King - Lease Recently Extended
  • Two Percent Rental Increase Occurring in January 2023 / 10 Percent in Each Option
  • 208,661 Residents within a Five-Mile Radius - Memphis Infill
  • Easily Accessible via Mount Moriah Road (25,300 Cars/Day) and South Mendenhall Road (27,700 Cars/Day)
  • Situated in Dense Auto Corridor with Several Car Dealerships and Repair Centers
  • 10 Minutes from Memphis International Airport
  • One Mile Off the I-240 Freeway (172,000 Cars/Day), a Major Memphis Area Connector
  • Strong Daytime Population - 279,300 Employees in Surrounding Area

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Auto Parts

Service King - Early 5 Year Lease Renewal

Listing Price: $1,829,000

Cap Rate
6.00%
Tenant Name
Service King
Years Remaining On Lease
6.1
Gross SF
16,000
Guarantor
Corporate Guarantee
Rentable SF
16,000
Price/Gross SF
$114.31
Lease Type
Double Net
Rent Per Square Feet
$6.86

Investment Highlights

  • Six Years Remaining on Corporate Lease Term with Service King - Lease Recently Extended
  • Two Percent Rental Increase Occurring in January 2023 / 10 Percent in Each Option
  • 208,661 Residents within a Five-Mile Radius - Memphis Infill
  • Easily Accessible via Mount Moriah Road (25,300 Cars/Day) and South Mendenhall Road (27,700 Cars/Day)
  • Situated in Dense Auto Corridor with Several Car Dealerships and Repair Centers
  • 10 Minutes from Memphis International Airport
  • One Mile Off the I-240 Freeway (172,000 Cars/Day), a Major Memphis Area Connector
  • Strong Daytime Population - 279,300 Employees in Surrounding Area

Investment Overview

Service King strives to be the collision repair operator of choice by providing a secure, fulfilling workplace that motivates its teammates to deliver safe, superior repairs with excellent customer service while ensuring sustainable, profitable growth and opportunity. In 2014, Service King acquired Sterling Auto Body Centers and its 62 collision repair centers across 16 U.S. states. The deal marked the largest acquisition in collision repair industry history, establishing the national footprint and future strategy for growth. Today, Service King remains the collision repair operator of choice across the U.S. with 335 locations in 24 states and plans to continue growing. Memphis is a city in southwestern Shelby County, Tennessee, located along the Mississippi River. The city’s estimated 2020 population was over 633,100 residents, making it the state’s second-most populous city behind Nashville. It is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and Missouri. The Memphis metro spans 3,000 square miles over nine counties in the states of Tennessee, Mississippi, and Arkansas. Greater Memphis contains nearly 1.4 million residents, with more than 951,000 residing in Shelby County. Memphis is a regional center for commerce, education, media, and entertainment.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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