Mavis Discount Tire
Franklin Township, NJ
Key Details
| Price: | $3,619,048 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $190,000 |
| Address: | 442 Elizabeth Avenue, Franklin Township, New Jersey 08873 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 6/17/2021 |
| Lease Expiration: | 6/30/2041 |
| Lease Term Remaining: | 16.5 Years |
| Rental Increases: | 1.50% Annually Starting Year 7 |
| Lot Size: | 1.02 Acres |
| Building Size: | 5,269 SF |
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 442 Elizabeth Avenue, Franklin Township, New Jersey 08873. The site consists of roughly 5269 rentable square feet of building space on an estimated 1.02-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 6/17/2021. The current annual rent is $190,000 and has scheduled increases of 1.50% Annually Starting Year 7.
About the Investment
- Long Term 20-Year Lease Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Approximately 18 Years Remaining
- Attractive Rental Increases of One-and-a-Half Percent (1.50%) Annually After Year Seven (7)
Key Details
| Price: | $3,619,048 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $190,000 |
| Address: | 442 Elizabeth Avenue, Franklin Township, New Jersey 08873 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 6/17/2021 |
| Lease Expiration: | 6/30/2041 |
| Lease Term Remaining: | 16.5 Years |
| Rental Increases: | 1.50% Annually Starting Year 7 |
| Lot Size: | 1.02 Acres |
| Building Size: | 5,269 SF |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Kyle Karsian
kkarsian@nnnpro.com
License: NY: 10401321452
Gordon Pollock
gpollock@nnnpro.com
License: NY: 10401370688
Broker of Record
Brian Brockman
Bang Realty-New Jersey, Inc
License: 2078547
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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.