American Lubefast
3301 Spring Hill Road
Mobile, AL 36608
| Price: |
$729,610 |
| CAP Rate: |
7.95% |
| Building Size: |
1,788 SF |
| Approx Lot Size: |
1.00 Acre(s) |
| Year Built: |
1982 |
Net Lease
Investment: |
Yes |
| Existing Debt: |
No |
| Property On Ground Lease: |
No |
| 1031 Exchanges Acceptable: |
Yes |
Property Features- Lease Type: Net, Net, Net Lease. No Landlord responsibilities.
- Tenant has option to purchase, please see lease.
- Lease Term: Twenty (20) years
- Lease Commencement: September, 2007
- Lease Renewal Options: Two (2) Ten (10) year options
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For more information contact:
Keith Sturm
(612) 332-6600
Upland Real Estate Group, Inc.
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Property Description
American LubeFast started in 1997 in Atlanta. By summer of 1999 there were 7 stores in Atlanta. In August 1999, with the help of Castrol and FFCA, the company purchased 52 stores of the Super Lube chain. The acquisition expanded the Company in South Georgia, South Alabama and Northwest Florida markets. Currently, there are 78 stores and the Company has recently expanded into southern Mississippi.
In most of the markets that American LubeFast operates in, they are the largest automotive service company. This allows American LubeFast the ability to achieve economies of scale in advertising costs. Whereas American LubeFast will spend as much on advertising as their competitors, the greater number of stores in the markets equates to a lower cost of advertising per store than competitors in the same market.
The subject property is located off Interstate 65 on Spring Hill Road. Retailers in the immediate area include: Dollar General, Autozone, O'REILLY Auto Parts, Rite Aid, Burger King, McDonald's, Waffle House, Zaxby's, Hardee's, KFC, Subway, Taco Bell, Wendy's and Chick-Fil-A.
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