Town Fair Tire

Fall River, MA

Key Details

Price:$3,170,000
Cap Rate:6.00%
Annual Rent:$190,200
Address:325 Bedford Street, Fall River, Massachusetts 02720
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:20 Years
Lease Expiration:20 Years from Close of Escrow
Lease Term Remaining:20 Years
Rental Increases:5.00% Every 5 Years
Lot Size:0.53 Acres
Building Size:9,180 SF
Year Built:1975
NNN Pro is pleased to present the exclusive listing for a Town Fair Tire located at 325 Bedford Street, Fall River, Massachusetts 02720. The site consists of roughly 9180 rentable square feet of building space on an estimated 0.53-acre parcel of land. This Town Fair Tire is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $190,200 and has scheduled increases of 5.00% Every 5 Years.

About the Investment

  • Long-Term 20-Year NNN Sale-Leaseback | The subject investment property will feature a brand new 20-year lease commencing at the close of escrow and is subject to zero landlord responsibilities.
  • Strong Corporate Guarantee | The lease is 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 experienced an average revenue increase of 44%.
  • Attractive Rent Increases and Renewal Options | The lease features scheduled increases of 5.00% every 5 years. It is also subject to 6, 5-year options to extend lease term for an additional 30 years.

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Matthew Anuszkiewicz

manuszkiewicz@nnnpro.com
License: NY: 10401294046
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Robert Stein

rstein@nnnpro.com
License: NY: 10401341647
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Davis Ford

dford@nnnpro.com
License: NY: 10401379279

Broker of Record

Brian Brockman

Bang Realty-New England, Inc
License: 1000169
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.