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Mavis Discount Tire 300 US Highway 202 2,165 SF Retail Building Flemington, NJ 08822 $3,656,250 ($1,688.96/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Corporate Guarantee
- Long Term NNN Lease with Zero Landlord Responsibilities
- Recession Resistant Due to Non Discretionary, Nature of Services
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 304 Route 202-31 Circle, Flemington, NJ 08822. The site consists of roughly 6,486 rentable square feet of building space on an estimated 1.03-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 11/18/2020. The current annual rent is $204,750 and has scheduled increases of 5.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,165 SF
Building Class
C
Year Built
2025
Price
$3,656,250
Price Per SF
$1,688.96
Cap Rate
5.60%
NOI
$204,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.63 AC
Opportunity Zone
Yes
Zoning
HR
Frontage
AMENITIES
- 24 Hour Access
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,250,000 | |
| Land Assessment | $1,820,000 | Total Assessment | $3,070,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,820,000
Improvements Assessment
$1,250,000
Total Assessment
$3,070,000
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Mavis Discount Tire | 300 US Highway 202
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