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Mavis Discount Tire 304 US Highway 202 6,486 SF Retail Building Flemington, NJ 08822 $3,656,250 ($563.71/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
Auto Repair
Building Size
6,486 SF
Building Class
B
Year Built
2025
Price
$3,656,250
Price Per SF
$563.71
Cap Rate
5.60%
NOI
$204,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.03 AC
Opportunity Zone
Yes
Zoning
O/SS
Parking
22 Spaces (3.39 Spaces per 1,000 SF Leased)
Frontage
196’ on U.S. 202
AMENITIES
- 24 Hour Access
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-00049-0000-00003 | Improvements Assessment | $885,000 |
| Land Assessment | $1,100,000 | Total Assessment | $1,985,000 |
PROPERTY TAXES
Parcel Number
09-00049-0000-00003
Land Assessment
$1,100,000
Improvements Assessment
$885,000
Total Assessment
$1,985,000
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Mavis Discount Tire | 304 US Highway 202
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