Mavis Discount Tire
Lancaster, PA
Key Details
| Price: | $2,800,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $175,000 |
| Address: | 1655 Columbia Avenue, Lancaster, Pennsylvania 17603 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 3/13/2023 |
| Lease Expiration: | 3/13/2038 |
| Lease Term Remaining: | 13.2 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.00 Acres |
| Building Size: | 6,168 SF |
| Year Built: | 1974 |
| Year Renovated: | 2022 |
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 1655 Columbia Avenue, Lancaster, Pennsylvania 17603. The site consists of roughly 6168 rentable square feet of building space on an estimated 0-acre parcel of land. This Mavis Discount Tire is subject to a 15-year Double Net (NN) lease, which commenced 3/13/2023. The current annual rent is $175,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Long Term 15-Year Lease | Corporate Guarantee
- Ideal Automotive Service Fundamentals | Located in Lancaster’s Main Shopping Corridor | Several Anchor Tenants Bring Daily Traffic Drivers to the Area | Lowe’s, Aldi, Lidl’s, Giant | Excellent Visibility Along Columbia Avenue
- Attractive Real Estate Fundamentals | Strategic Positioning | Situated Across From Speedway Gas Station and Adjacent to a Valvoline Oil Change
Key Details
| Price: | $2,800,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $175,000 |
| Address: | 1655 Columbia Avenue, Lancaster, Pennsylvania 17603 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 3/13/2023 |
| Lease Expiration: | 3/13/2038 |
| Lease Term Remaining: | 13.2 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.00 Acres |
| Building Size: | 6,168 SF |
| Year Built: | 1974 |
| Year Renovated: | 2022 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Ilan Bley
ibley@nnnpro.com
License: NY: 10401372865
Broker of Record
Brian Brockman
Bang Realty-Pennsylvania, Inc
License: RM432816
Related Listings
Loading...
Frito-Lay Distribution Center
Wilson Industrial Drive, Towanda, Pennsylvania 18848
PRICE$3,431,831
CAP RATE6.50%
Loading...
KFC
1116 Parade Street, Erie, Pennsylvania 16503
PRICE$1,280,150
CAP RATE6.00%
Loading...
CVS Pharmacy
125 West Washington Street, Chambersburg, Pennsylvania 17201
PRICE$2,587,108
CAP RATE6.50%
Loading...
Sonic
58 Station Circle, Hazleton, Pennsylvania 18202
PRICE$1,368,902
CAP RATE6.50%
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.