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Mavis Tires & Brakes: Rio Grande, NJ 3158 Route 9 S 6,760 SF Retail Building Rio Grande, NJ 08242 $3,913,043 ($578.85/SF) 5.25% Cap Rate

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Investment Highlights

New 20-Year NNN Lease with Attractive Escalations and No Landlord Responsibilities
Situated in the center of Cape May County, just off Garden State Parkway (30,689 VPD).
Population of nearly 50,000 within a 5-mile radius.

Brand New Construction Sold at Development Cost
Other retailers in the immediate area include Walmart, Lowe's Home Improvement, ALDI, Starbucks & McDonald's.
Average Annual Household Income of $110,000 within a 5-mile radius.

Executive Summary

As the exclusive advisor to Ownership, CBRE, Inc. is proud to offer qualified investors the opportunity to acquire, via long-term sale-leaseback, the recently constructed 6,760-square-foot Mavis Tires & Brakes located at 3158 Route 9 South, Rio Grande, NJ (the “Property”). Structured as a NNN lease with no landlord responsibilities, the Property will include a new 20-year lease to Mavis Tire Supply LLC (the “Tenant”) with six, 5-year options to renew. The lease will feature a 5% escalation every five years and all renewal options will be subject to the same 5% escalation at each onset. The Property will be sold at its development cost of $3,913,043 and investors are asked to bid the rent / capitalization rate as part of their offer.