232 Grant Ave - Auto Repair FOR SALE


Auburn, NY 13021
$2,046,000 USD
949-942-6585
232 Grant Ave, Auburn, NY for Sale
$2,046,000 USD
Auto Repair - FOR SALE
1/3
null | 7% Cap Rate

232 Grant Ave
Auburn, NY 13021


HIGHLIGHTS

  • Brand-new, build-to-suit construction asset
  • New, 15-year & 4-month, absolute NNN lease | Zero Landlord responsibilities
  • Superior guarantor and operator | Lease is backed by Purple Square Management, LLC which has 305+ stores opening and operating throughout 15 states
  • Excellent access and visibility from Grant Avenue which sees ±29,580 VPD
  • Directly across the street from Auburn Plaza | Anchored by ALDI, Habor Freight and Marshalls
  • Strong, 10% rental increases every 5 years throughout the initial term and options | 7.74% Avg CAP assuming purchase at List Price

OVERVIEW

• Brand-new, build-to-suit construction asset • New, 15-year & 4-month, absolute NNN lease | Zero Landlord responsibilities • Superior guarantor and operator | Lease is backed by Purple Square Management, LLC which has 305+ stores opening and operating throughout 15 states | Their brands include Dunkin’/Baskin Robbins (105), Rent-A-Center (64), Popeyes (45), Take 5 Oil Change (50), RimTyme (28), AFC Urgent Care (11), The Brass Tap (2), and Smalls Sliders • Excellent access and visibility from Grant Avenue which sees ±29,580 VPD • Directly across the street from Auburn Plaza | Anchored by ALDI, Habor Freight and Marshalls • Strong, 10% rental increases every 5 years throughout the initial term and options, providing an excellent hedge against inflation | Yields a 7.74% average CAP over the base lease term, assuming purchase at List Price • Site is walking distance to: • A Walmart Supercenter & Lowe’s anchored shopping center • A BJ’s-anchored shopping center • Grant Avenue Plaza | A Big Lots and Tractor Supply-anchored shopping center • Cayuga Community College & Auburn Junior High School | 3,500 combined students • Heavily auto-related corridor with 7 different car dealerships • About 1.5 miles from: • Downtown Auburn • Auburn Community Hospital | 99-bed acute care facility • Take 5 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations across 41 states with an additional 950 sites in the pipeline • E-commerce and recession proof tenant

FOR SALE DETAILS

PRICE

$2,046,000 USD

PRICE/SF

$1,545 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Take 5 | 305+ Unit Guarantor | 15+ Years

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

CROSS STREETS

Corporate Drive

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

HC

APN/PARCEL ID

050100-109-064-0001-002-000-0000

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.