Mavis Discount Tire
Lanoka Harbor, New Jersey
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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.
About the Investment:
– 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)
– Six (6) Tenant Renewal Periods of Five (5) Years Each
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