December 28, 2021 – Luke Thomson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Mavis Discount Tire in Lexington, South Carolina. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,871,287.
The Mavis Discount Tire is located at 847 US Route 378 in Lexington, South Carolina. The stand-alone building consists of 6,730 square feet and sits on 1.15 acres of land. This was a sale-leaseback transaction, and Mavis is subject to a 20-year, Absolute NNN Lease that commenced upon the close of escrow and includes six (6), 5-year renewal options. The lease features 5% rent increases every five years throughout both the current term and the option periods. Mavis is strategically positioned along US Route 847, in a dense, urban infill area consisting of national and local tenants. Major national tenants in the area include Food Lion, CVS, Dollar General, Walgreens, Subway, Burger King, McDonalds, Dunkin Donuts, Taco Bell, Starbucks and more. The property is located less than two miles from Lexington High School, which has a total enrollment exceeding 2,200 students. Additionally, the Mavis is located less than 20-miles from downtown Columbia and the University of South Carolina, which has a student enrollment exceeding 34,000 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.