Mavis Discount Tire 134 Water St 11,412 SF Retail Building Newton, NJ 07860 $3,710,177 ($325.11/SF) 5.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Triple Net (NNN) Lease
- Recession Resistant Due to Non Discretionary Nature of Services
- Strong Corporate Guarantee
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 134 Water St, Newton, NJ, 07860. The site consists of roughly 11,412 rentable square feet of building space on an estimated 1.43-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 12/1/2020. The current annual rent is $209,625 and has scheduled increases of 7.50% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
11,412 SF
Building Class
C
Year Built
1965
Price
$3,710,177
Price Per SF
$325.11
Cap Rate
5.65%
NOI
$209,625
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.43 AC
Zoning
C-3 - multi-tenant commerical
Parking
33 Spaces
Frontage
219’ on Hampton House Road
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 15-00003-03-00002 | Improvements Assessment | $1,735,300 |
| Land Assessment | $437,000 | Total Assessment | $2,172,300 |
