Investment Highlights
- Newer Construction, Built in 2018 With Upgraded Architectural Elements
- Long-Term Lease With Over 16 Years Remaining on Base Term
- Minimal Landlord Responsibilities, Roof Warranty in Effect Until August 2038
- Centrally Located Between Two Major Roadways – Tennessee Street and Apalachee Parkway, With a Combined Traffic Count of Approximately 52,000 Vehicles Daily
- 2.5 Miles from Florida State University (FSU) With an Enrollment of Over 43,500 Students and Nearly 14,400 Employees
- Surrounding National Brands Include Target, Kohl’s, Publix, Winn Dixie, Marshalls, Dick’s Sporting Goods, Burlington, Best Buy, Pet Smart, Five Below, Michael’s, Bed Bath & Beyond, Old Navy, AT&T, Chili’s, Panera Bread, Chipotle, Applebee’s, McDonald’s, Starbucks, Walgreens, CVS, Courtyard by Marriott, Home2 Suites by Hilton, Comfort Suites, Hilton Garden Inn and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Mavis Discount Tire in Tallahassee, FL. This is a long-term lease with more than 16 years remaining on the base term. The lease has minimal landlord responsibilities and there is a roof warranty in effect until August 2038. The lease offers the tenant four, five-year renewal options with rent increases every five years in the base term and option periods.
This Mavis is located in Tallahassee, Florida’s state capitol and home to more than 68,000 college students who attend the various higher-education institutions. Tallahassee has one of the most educated workforces in the state with nearly 37 percent of all residents having attained a bachelor’s degree or greater. The Subject Property is only 2.5 miles from Florida State University (FSU) which has an enrollment of over 43,500 students and nearly 14,400 employees, and less than three miles from Florida A&M University.
Mavis is located on Magnolia Drive with more than 29,000 vehicles daily, and is within walking distance from Governor’s Square Mall, the only regional mall in the Tallahassee market with more than 100 stores and anchored by Macy’s, JCPenney and Dillard’s. The Property is conveniently located in a high traffic, busy retail area between two major roadways – Tennessee Street and Apalachee Parkway (combined, 52,000 vehicles daily).
Other surrounding national brands include Target, Kohl’s, Publix, Winn Dixie, Marshalls, Dick’s Sporting Goods, Burlington, Best Buy, Pet Smart, Five Below, Michael’s, Bed Bath & Beyond, Old Navy, AT&T, Chili’s, Panera Bread, Chipotle, Applebee’s, McDonald’s, Starbucks, Walgreens, CVS, Courtyard by Marriott, Home2 Suites by Hilton, Comfort Suites, Hilton Garden Inn and many more.
