325 US Highway 9 - Auto Repair FOR SALE


Lanoka Harbor, NJ 08734
$3,814,971 USD
332-345-4222
325 US Highway 9, Lanoka Harbor, NJ for Sale
$3,814,971 USD
Auto Repair - FOR SALE
1/2
null | 5.25% Cap Rate

325 US Highway 9
Lanoka Harbor, NJ 08734


HIGHLIGHTS

  • 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)

OVERVIEW

NNN Pro Group is pleased to present the exclusive listing for a Mavis Discount Tire located at 325 North Main Street (Rt. 9) in Lanoka Harbor, New Jersey. The site consists of roughly 5,210 rentable square feet of building space on estimated 1.95-acre parcel of land. This Mavis Discount Tire is subject to a 20-year absolute triple-net (NNN) lease, which commenced June 17th, 2021. The current annual rent is $200,286 and is scheduled to increase by 1.50% annually starting year 7 and in each of the 6, 5-year renewal options.

FOR SALE DETAILS

PRICE

$3,814,971 USD

PRICE/SF

$644 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mavis Discount Tire

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.95 AC

LAND SF

84,942 SF

ZONING

C150

APN/PARCEL ID

13-00415-0000-00001-01

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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