Auto Service Center NNN
For Sale
Contact for pricing
724 Cherry Road, Rock Hill, SC 29732
Single-tenant Mavis Tires & Brakes with a 20-year NNN lease and scheduled 5% rent increases.
Property Size6,850 SF
Lot Size0.66 Acres
Price / SF$380.83
Days on Market98
Property Features for 724 Cherry Road
General Information
Standard status
Active
Size
6,850 SF
Lot size
0.66 Acres
Property subtype
Retail
Lease Type
NNN
Net Operating Income
$150,000
Additional Details
Business Included
Yes
Building Details
Year Built
1965
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Jun 2
Changed: Aug 24
Last Checked: Sep 7 at 10:35AM
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 SURMOUNT
Investment Insights
Based on property information with market context.
The property is an approximately 6,850 rentable square foot auto service building on an estimated 0.66-acre parcel. It is leased to Mavis Tires & Brakes under a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent is stated at $150,000, with scheduled increases of 5.00% every five years.
The facility is located at 724 Cherry Road in Rock Hill, South Carolina. The offering is positioned as an NNN automotive investment with a long-term tenant commitment tied to the lease term.
For buyers or investors seeking an automotive single-tenant asset, the primary consideration here is the executed lease structure: a 20-year NNN arrangement with defined rent steps. For tenant-oriented buyers, the property’s fit is centered on a stabilized, purpose-built tire and brake service use under the existing lease terms.
The facility is located at 724 Cherry Road in Rock Hill, South Carolina. The offering is positioned as an NNN automotive investment with a long-term tenant commitment tied to the lease term.
For buyers or investors seeking an automotive single-tenant asset, the primary consideration here is the executed lease structure: a 20-year NNN arrangement with defined rent steps. For tenant-oriented buyers, the property’s fit is centered on a stabilized, purpose-built tire and brake service use under the existing lease terms.
Key Highlights
- Mavis Tires & Brakes single‑tenant property at 724 Cherry Road, Rock Hill, SC 29732
- Approximately 6,850 rentable SF building on an estimated 0.66‑acre parcel
- 20‑year Triple Net (NNN) lease commencing upon close of escrow
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,632
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,852,640
$1.9M
Cap Rate 7%
$1,323,314
$1.3M
Cap Rate 9%
$1,029,244
$1.0M
Market Conditions
NOI Build-Up for 6,850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$137.3K $20.04/SF
− Vacancy
−$4.9K −$0.72/SF
EGI
$132.3K $19.32/SF
− OpEx
−$39.7K −$5.80/SF
NOI
$92.6K $13.52/SF
Area
York County, SC
Vacancy
3.60%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,852,640
Cap Rate 7%
$1,323,314
Cap Rate 9%
$1,029,244
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,632 @ 7.0% cap · market cap 3.55%
Second Best
Industrial
$875.5K
$766.0K – $1.02M
NOI $61,283 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,759 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
132k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 37%
Groceries 10%
Home Improvements & Furnishings 3%
McDonald's
Dining
22,920 visits/mo
0.4 miles
Starbucks
Dining
16,000 visits/mo
0.1 miles
Pet Supermarket
Shops & Services
14,876 visits/mo
0.1 miles
7-Eleven
Shops & Services
13,954 visits/mo
0.2 miles
Earth Fare
Groceries
13,821 visits/mo
0.0 miles
Demographics for 29732, SC
59,417
Population
24,926
Households
2.4
Avg Household Size
41
Median Age
40%
College-Educated
95%
High-School Grad
52.8 sq mi
ZIP Area
1,125
Density / Sq Mi
$79,936
Median Household Income
$44,650
Median Earnings
$1,293
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant Mavis Tires & Brakes with a 20-year NNN lease and scheduled 5% rent increases.
Where is this auto shop located?
The property is located at 724 Cherry Road Rock Hill, SC.
What is the asking price?
The asking price for this property is $2,608,696.
What are key features of this property?
This property features: Mavis Tires & Brakes single‑tenant property at 724 Cherry Road, Rock Hill, SC 29732; Approximately 6,850 rentable SF building on an estimated 0.66‑acre parcel; 20‑year Triple Net (NNN) lease commencing upon close of escrow
