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Mavis Discount Tire

Keyport, New Jersey

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NNN Pro Group is pleased to present the exclusive listing for a Mavis Discount Tire located at 275 Broadway in Keyport, New Jersey. The site consists of roughly 12,676 rentable square feet of building space on estimated 0.32-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 $123,000 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

Key Details

Price:
$2,342,857
Cap Rate:
5.25%
Annual Rent:
$123,000
Address:
275 Broadway, Keyport, New Jersey 07735
Property Type:
Automotive -Tire Services
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
June 17, 2021
Lease Expiration:
June 30, 2041
Lease Term Remaining:
18.15 Years
Rental Increases:
1.50% Starting Year 7
Lot Size:
0.32 Acres
Building Size:
12,676 SF
Year Built:
1991
Tenant:
Mavis Discount Tire

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Kyle Karsian

License: 10401321452

Broker of record

Brian Brockman

Bang Realty-New Jersey, Inc

License: 2078547


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