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Mavis Discount Tire 1655 Columbia Ave 2,548 SF Retail Building Lancaster, PA 17603 $2,800,000 ($1,098.90/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently Signed 15-Year Lease Extension
- Limited Landlord Responsibilities
- Attractive 10% Rental Increases Every 5 Years
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Mavis Discount Tire located at 1655 Columbia Ave, Lancaster, PA. The site consists of roughly 2,548 rentable square feet of building space on an estimated 0.57-acre parcel of land. This Mavis Discount Tire is subject to a 15-year Double Net (NN) lease, which expires 5/31/2040. The current annual rent is $175,000 and has scheduled increases of 10.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,548 SF
Building Class
B
Year Built
1974
Price
$2,800,000
Price Per SF
$1,098.90
Cap Rate
6.25%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.57 AC
Zoning
HC - High density commercial
Parking
4 Spaces (1.57 Spaces per 1,000 SF Leased)
Frontage
226’ on Columbia Avenue
Walk Score®
Very Walkable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 290-01818-0-0000 | Improvements Assessment | $465,100 |
| Land Assessment | $200,500 | Total Assessment | $665,600 |
PROPERTY TAXES
Parcel Number
290-01818-0-0000
Land Assessment
$200,500
Improvements Assessment
$465,100
Total Assessment
$665,600
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Mavis Discount Tire | 1655 Columbia Ave
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