NNN Pro Group is pleased to present the exclusive listing for a Mavis located at 280 Cowgill Street in Dover, DE. The site consists of roughly 6,613 rentable square feet of building space on estimated 0.78-acre parcel of land. This Mavis is subject to a 20-year absolute triple-net (NNN) lease, which commences upon close of escrow. The current annual rent is $151,042 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 6, 5-year renewal options.
About the Investment:
✓ Long Term 20-Year Sale-Leaseback
✓ Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Attractive Rental Increases of Five Percent (5%) Every Five (5) Years
✓ Six (6) Tenant Renewal Periods of Five (5) Years Each
✓ Corporate Guarantee from Mavis Discount Tire | 1,450+ Locations
NNN Pro Group is pleased to present the exclusive listing for the Walgreens located at 2012 Brackenville Road in Hockessin, Delaware. The site consists of roughly 11,916 rentable square feet of building space on an estimated 2.3-acre parcel of land. This property is subject to a long term, triple net (NNN), which expires on February 29, 2028. The current annual rent is $462,360 and is scheduled to increase by 12.5% in each of the 3, 5-year renewal options.
✓ Lease Guaranteed by Walgreen’s Corporate Entity | Former Happy Harry’s Location that was Acquired by Walgreens and Rebranded Due to Strong Store Performance
✓ Large 2.30 Acre Parcel | Located on a Hard Corner and Four-Way Signalized Intersection | Two Modes of Ingress/Egress
✓ Phenomenal Demographics
✓ 3 Mile Radius | 32,700 Residents Earning $156,000 AHHI
✓ 5 Mile Radius | 104,300 Residents Earning $127,700 AHHI
✓ 10 Mile Radius | 467,800 Residents Earning $107,700 AHHI
✓ Excellent Ease of Access and Visibility Off Lancaster Pike and Brackenville Road
