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Mavis Discount Tire 1307 Chestnut Ln 7,156 SF 100% Leased Retail Building Matthews, NC 28104 $3,460,918 ($483.64/SF) 5.65% Cap Rate
Investment Highlights
- Long-Term NNN Lease
- Strong In-Place Income With Accelerated Rental Increase Structure
- New Construction With Modern Site Design
- Large Freestanding Parcel
Executive Summary
Surmount is pleased to present the exclusive listing for a Mavis Discount Tire located at 1307 Chestnut Lane, Matthews, NC 28104. The site consists of roughly 7,156 rentable square feet of building space on an estimated 1.05-acre parcel of land. Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 7.6.2023. The current annual rent is $195,541 and has scheduled increases of Variable.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
7,156 SF
Year Built
2023
Price
$3,460,918
Price Per SF
$483.64
Cap Rate
5.65%
NOI
$195,542
Percent Leased
100%
Building Height
1 Story
Building FAR
0.16
Lot Size
1.05 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-147-130-B | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,325,300 |
Property Taxes
Parcel Number
07-147-130-B
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,325,300
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Mavis Discount Tire | 1307 Chestnut Ln
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