Express Oil Change - Tenant Overview


January 23, 2024

Auto - Others

Tenant Description

Express Oil Change & Tire Engineers, established in 1979 in Birmingham, Alabama, quickly emerged as a key player in the automotive service industry. Founded by Jim Lunceford, the company's initial service center in Vestavia Hills marked the beginning of a swift expansion. In a decade, it had become a regional leader in quality, affordable auto care.

The brand's growth trajectory soared in the 1990s and 2000s, characterized by strategic acquisitions. A pivotal moment came in 2018 with a merger with Mavis Discount Tire, forming a significant presence in the automotive maintenance sector with over 830 outlets across the U.S. Express Oil Change & Tire Engineers contributes over 300 locations in 19 states to this network.

This merger, facilitated by Golden Gate Capital and the co-CEOs of Mavis, melded the strengths of both companies, emphasizing organic sales growth and service center expansion.

In the commercial real estate sphere, Express Oil Change & Tire Engineers is a highly attractive tenant. Its expansive network, enhanced by a strategic corporate alliance, underlines its potential for sustained growth and solid market presence. Its history of strategic expansion and commitment to quality service, supported by a strong parent company, positions it as an appealing choice for landlords and investors. This blend of steady growth, market influence, and operational excellence makes it a compelling option in the real estate market.

Average Asking Cap Rate


3 mo avg (67 properties)

Typical Investment/Lease

Average Sale Price




$/Square Foot


Building SF


Approx. Store Count


Lease Term

15 Years


7% Every 5 Years

Stock Symbol


Credit Quality



Average Asking Cap Rate Trend





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