Mavis Discount Tire
Saugus, MA
Key Details
Price: | $4,103,501 |
---|---|
Cap Rate: | 5.25% |
Annual Rent: | $215,434 |
Address: | 564 Broadway, Saugus, Massachusetts 01906 |
Property Type: | Retail |
Lease Type: | Triple Net (NNN) |
Property Data
Original Lease Term: | 25 Years |
---|---|
Lease Commencement: | 4/16/2015 |
Lease Expiration: | 4/30/2040 |
Lease Term Remaining: | 15.3 Years |
Rental Increases: | Cumulative CPI Capped at 12% Every 5 Years |
Lot Size: | 1.17 Acres |
Building Size: | 6,664 SF |
Year Built: | 2014 |
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 564 Broadway, Saugus, Massachusetts 01906. The site consists of roughly 6664 rentable square feet of building space on an estimated 1.17-acre parcel of land. This Mavis Discount Tire is subject to a 25-year Triple Net (NNN) lease, which commenced 4/16/2015. The current annual rent is $215,434 and has scheduled increases of Cumulative CPI Capped at 12% Every 5 Years.
About the Investment
- Immediately Surrounded by an Abundance of National Retailers | Under just a half mile from the subject property are an abundance of national retailers including Home Depot, Walmart, Target, CVS, Kohl's, Petco, Staples, Dollar Tree, Five Below, Marshalls, Home Goods, Foot Locker, Burger King, McDonald’s, Chipotle, Starbucks, Panera Bread, Jersey Mike’s, Wendy’s, Raising Cane’s, Five Guys, 110 Grill, Verizon, Skechers, Sally Beauty, Eastern Bank, M&T Bank, Harbor Freight, and many more.
- One of the Only Three National Automotive Centers Within Four Miles | This Mavis is one of only three national automotive service centers within a 4-mile radius, benefiting from its proximity to a large residential community. This strategic positioning provides Mavis with a distinct competitive edge, positioning it as the preferred automotive shop in the area. Additionally, this Mavis ranks in the 79th percentile for visits among all car shops in Massachusetts, far outpacing local competitor Town Fair Tire, according to Placer.ai data.
- Located Just One Mile Away from Highly Visited Square One Mall - Owned by Simon Property Group | Square One Mall offers nearly 1 million square feet of retail space, housing over 120 stores and services, including major anchors like Macy's, Dick's Sporting Goods, Best Buy, and T.J. Maxx. The mall is owned and operated by Simon Property Group, an American real estate investment trust that is the largest owner of shopping malls in the United States with assets totaling more than $34 billion.
Key Details
Price: | $4,103,501 |
---|---|
Cap Rate: | 5.25% |
Annual Rent: | $215,434 |
Address: | 564 Broadway, Saugus, Massachusetts 01906 |
Property Type: | Retail |
Lease Type: | Triple Net (NNN) |
Property Data
Original Lease Term: | 25 Years |
---|---|
Lease Commencement: | 4/16/2015 |
Lease Expiration: | 4/30/2040 |
Lease Term Remaining: | 15.3 Years |
Rental Increases: | Cumulative CPI Capped at 12% Every 5 Years |
Lot Size: | 1.17 Acres |
Building Size: | 6,664 SF |
Year Built: | 2014 |
Talk to the Pros
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Kevin Burke
kburke@nnnpro.com
License: NY: 10401370868
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Broker of Record
Brian Brockman
Bang Realty-New England, Inc
License: 1000169
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.