Mavis Discount Tire 24-38 W Germantown Pike 12,650 SF 100% Leased Retail Building Norristown, PA 19401 $2,125,568 ($168.03/SF) 5.50% 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 24 W Germantown Pike, East Norriton, PA, 19401. The site consists of roughly 11,706 rentable square feet of building space on an estimated 2.22-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 $116,906 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
12,650 SF
Building Class
C
Year Built
2000
Price
$2,125,568
Price Per SF
$168.03
Cap Rate
5.50%
NOI
$116,906
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
2.22 AC
Zoning
C - Commercial
Parking
70 Spaces (2.92 Spaces per 1,000 SF Leased)
Frontage
183’ on Germantown Pike
AMENITIES
- Pylon Sign
- Signalized Intersection
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 33-00-03046-008 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $951,000 |
