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Mavis Discount Tire

Gardiner, New York

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NNN Pro Group is pleased to present the exclusive listing for a Mavis Discount Tire located at 2170 Route 44/55 in Gardiner, NY. The site consists of roughly 9,519 rentable square feet of building space on estimated 1.40-acre parcel of land. This Mavis Discount Tire is subject to a 20-year absolute triple-net (NNN) lease, which commences at the close of escrow. The current annual rent is $164,063 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

Key Details

Price:
$2,524,038
Cap Rate:
6.50%
Annual Rent:
$164,063
Address:
2170 Route 44 #55, Gardiner, New York 12525
Property Type:
Auto Service
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Upon Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
5% Every 5 Years
Lot Size:
1.40 Acres
Building Size:
9,519 SF
Tenant:
Mavis Discount Tire

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Robert Stein

License: 10401341647

Andrew Darby


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