Mavis Discount Tire
Flemington, NJ
Key Details
| Price: | $3,656,250 |
|---|---|
| Cap Rate: | 5.60% |
| Annual Rent: | $204,750 |
| Address: | 304 U.S. 202, Flemington, New Jersey 08822 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 11/18/2020 |
| Lease Expiration: | 11/30/2040 |
| Lease Term Remaining: | 15.6 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.03 Acres |
| Building Size: | 6,486 SF |
| Year Built: | 2025 (Estimated) |
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 304 U.S. 202, Flemington, New Jersey 08822. The site consists of roughly 6486 rentable square feet of building space on an estimated 1.03-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 11/18/2020. The current annual rent is $204,750 and has scheduled increases of 5.00% Every 5 Years.
About the Investment
- Strong Corporate Guarantee | The lease will be subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, a 2000+ unit guarantee, the largest tire service operator in the US. Mavis currently operates the following brands with a highly diversified business mix: Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, and Town Fair Tire.
- Recession Resistant Due to Non Discretionary, Nature of Services | The tire services business is highly recession-resistant, during COVID-19, tire shops and maintenance centers experienced a 44% increase in revenues on average.
- Long Term NNN Lease with Zero Landlord Responsibilities | The property is subject to an absolute triple net (NNN) lease, with zero landlord responsibilities, and has over 15 years of lease term remaining on the base term of the lease.
- Attractive Rental Increases | The lease features scheduled increases of 5.00% every 5 years, hedging against inflation.
Key Details
| Price: | $3,656,250 |
|---|---|
| Cap Rate: | 5.60% |
| Annual Rent: | $204,750 |
| Address: | 304 U.S. 202, Flemington, New Jersey 08822 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 11/18/2020 |
| Lease Expiration: | 11/30/2040 |
| Lease Term Remaining: | 15.6 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.03 Acres |
| Building Size: | 6,486 SF |
| Year Built: | 2025 (Estimated) |
Talk to the Pros
Matthew Anuszkiewicz
manuszkiewicz@nnnpro.com
License: NY: 10401294046
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Davis Ford
dford@nnnpro.com
License: NY: 10401379279
Broker of Record
Brian Brockman
Bang Realty-New Jersey, Inc
License: 2078547
Related Listings
Loading...
Mavis Discount Tire
442 Elizabeth Avenue, Franklin Township, New Jersey 08873
PRICE$3,619,048
CAP RATE5.25%
Loading...
Mavis Discount Tire
325 North Main Street, Lacey Township, New Jersey 08734
PRICE$3,814,971
CAP RATE5.25%
Loading...
Burger King | Mavis Discount Tire
3403 South Delsea Drive, Vineland, New Jersey 08360
PRICE$4,239,130
CAP RATE5.75%
Loading...
Mavis Discount Tire
134 Water Street, Newton, New Jersey 07860
PRICE$3,710,177
CAP RATE5.65%
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.