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Mavis Discount Tire

Surf City, North Carolina

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NNN Pro Group is pleased to present the exclusive listing for a Mavis located at 2761 Hwy 210 E in Surf City, NC. The site consists of roughly 6,500 rentable square feet of building space on estimated 1.07-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 $193,750 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:
$2,980,769
Cap Rate:
6.50%
Annual Rent:
$193,750
Address:
2761 Hwy 210 E, Surf City, North Carolina 28443
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:
1.07 Acres
Building Size:
6,500 SF
Year Built:
2023
Tenant:
Mavis Discount Tire

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Robert Stein

License: 10401341647

Andrew Darby

Broker of record

Brian Brockman

Bang Realty-North Carolina, Inc

License: 298998


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