Valvoline Auto Service Ground
199 Covenant Drive, Batesville, MS 38606
For Sale
Contact for pricing
The lease places property taxes, insurance, maintenance, and structural repairs with the tenant.
Property SizeContact for details
Lot Size0.90 Acres
Days on Market32
Property Features for 199 Covenant Drive
General Information
Standard status
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Highway Access
Road Access
Tenancy & Operations
Currently Operating
Tenant in Place
In-Place Lease Type
Current Tenants
Real Estate Included
Additional Details
Automotive Uses
Building Details
Tenancy
Listing Agency:
LemRx Realty Advisors
Listed By:
Dan Lem · License CA #00930322
Source:
Crexi
Added: Oct 9
Changed: Nov 8
Last Checked: Nov 8 at 5:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LemRx Realty Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A newly developed Valvoline automotive service site is offered under a ground lease to Valvoline LLC, which operates the business. The tenant is responsible for constructing its improvements and takes on substantially all ongoing property costs and maintenance, including taxes, insurance, roof work, and structural repairs. The initial lease term is 15 years, with rent increases of 10% every five years and three additional five-year renewal options that renew automatically unless the tenant opts out after each term.
The approximately 0.90-acre outparcel is within Covenant Crossing, a retail development at the I-55 and U.S. Highway 278 interchange, Exit 243. Access is via Covenant Drive. Co-tenants at Covenant Crossing include Hobby Lobby, Academy Sports + Outdoors, TJ Maxx, Ross Dress for Less, Ulta Beauty, and Five Below; Lowe's and restaurants including Chick-fil-A, Whataburger, and 7 Brew are nearby. I-55 connects the area with the greater Memphis region and communities across Mississippi.
The approximately 0.90-acre outparcel is within Covenant Crossing, a retail development at the I-55 and U.S. Highway 278 interchange, Exit 243. Access is via Covenant Drive. Co-tenants at Covenant Crossing include Hobby Lobby, Academy Sports + Outdoors, TJ Maxx, Ross Dress for Less, Ulta Beauty, and Five Below; Lowe's and restaurants including Chick-fil-A, Whataburger, and 7 Brew are nearby. I-55 connects the area with the greater Memphis region and communities across Mississippi.
Key Highlights
- Valvoline LLC‑operated automotive service site under a ground lease
- 15‑year initial lease term with three additional five‑year renewal options
- Rent increases 10% every five years
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38606, MS
15,612
Population
6,279
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
86%
High-School Grad
250.9 sq mi
ZIP Area
62
Density / Sq Mi
$55,333
Median Household Income
$36,725
Median Earnings
$912
Median Rent
$147,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Dunlap & Kyle Co Inc — 280 Eureka St, Batesville, MS 38606
- Gateway Tire & Service Center — 280 Eureka St, Batesville, MS 38606
- Expert Auto Glass — 509 U.S. Hwy 51, Batesville, MS 38606
- New Image Window Tinting — 500 U.S. Hwy 51 Suite A, Batesville, MS 38606
- Gateway Tire — Tiger Dr, Batesville, MS 38606
Frequently Asked Questions
What type of property is this?
Auto shop - The lease places property taxes, insurance, maintenance, and structural repairs with the tenant.
Where is this auto shop located?
The property is located at 199 Covenant Drive Batesville, MS.
What is the asking price?
The asking price for this property is $1,178,000.
What are key features of this property?
This property features: Valvoline LLC‑operated automotive service site under a ground lease; 15‑year initial lease term with three additional five‑year renewal options; Rent increases 10% every five years
