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Mavis Discount Tire 325 US Highway 9

5,920 SF Retail Building Lanoka Harbor, NJ 08734 £3,013,865 (£509/SF) 5.25% Net Initial Yield

Investment Highlights

  • Long Term 20-Year Lease Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of One-and-a-Half Percent (1.50%) Annually After Year Seven (7)
  • Approximately 18 Years Remaining

Executive Summary

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.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,920 SF
Building Class
C
Year Built
1986
Price
£3,013,865
Price Per SF
£509
Net Initial Yield
5.25%
NOI
£158,228
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Land Acres
1.95 AC
Zoning
C150 - Commercial
Parking
30 Spaces
Frontage
152 ft on US Highway 9
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325 US Highway 9, Lanoka Harbor, NJ - aerial map view

PROPERTY TAXES

Parcel Number 13-00415-0000-00001-01 Improvements Assessment £237,003
Land Assessment £474,006 Total Assessment £711,009

PROPERTY TAXES

Parcel Number
13-00415-0000-00001-01
Land Assessment
£474,006
Improvements Assessment
£237,003
Total Assessment
£711,009
(332) 345-4222

  • Listing ID: 28814668

  • Date on Market: 21/06/2023

  • Last Updated:

  • Address: 325 US Highway 9, Lanoka Harbor, NJ 08734

The Retail Property at 325 US Highway 9, Lanoka Harbor, NJ 08734 is currently available For Sale. Contact NNN Pro Group for more information.

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325 US Highway 9, Lanoka Harbor, NJ for sale Primary Photo- Image 1 of 3
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325 US Highway 9, Lanoka Harbor, NJ for sale Aerial- Image 2 of 3
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© 2024 CoStar Group

Mavis Discount Tire | 325 US Highway 9
(332) 345-4222 x

Mavis Discount Tire | 325 US Highway 9

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Kyle Karsian

(332) 345-4271

(332) 345-4271

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