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565 Alfred Rd
Biddeford, ME 04005
Town Fair Tire | A Mavis Corporate Credit · Retail Property For Sale
EXECUTIVE SUMMARY
CURRENT PORTFOLIO AVAILABILITY AND FURTHER INFORMATION AT WWW.MMTFT.COM
BEST OF THE BEST LOCATIONS - STRICTLY RETAIL
The Town Fair Tire sites being offered were all in the founder’s personal portfolio and are positioned in the chain’s best retail locations. Town Fair Tire strictly sells tires and wheels and are located next to national retailers unlike other tire chains that also offer oil changes and tune-ups and have greater exposure to environmental issues.
OVER 50 RECENT SALE COMPS BETWEEN 5.34% TO 6.10%
See pages 18-20 to review over 50 sale comps of tire retailers that have all sold at average cap rates between 5.34% and 6.10% including three Town Fair Tires that just sold in December.
DURABLE INDUSTRY POSITIONED FOR STRONG GROWTH
Since electrical cars weigh more than their gas-powered counterparts, they also wear out tires more quickly which will only increase the demand for tires as the country transitions to electric cars.
ZERO LANDLORD RESPONSIBILITIES
Tenant has sole responsibility for all operating, capital expenses, roof & structure which removes any Landlord liability and makes this property truly an absolute net-lease investment.
LONG TERM ABSOLUTE NNN LEASE W/ BUMPS
16 years remaining on the base term with 10% bumps every 5 years.
STRATEGICALLY LOCATED NEAR
I-95 Situated on Alfred Street/Rt. 111 in Biddeford, ME, this Town Fair Tire is easily accessible from Exit 32 of I-95. This location benefits from its position between the popular Biddeford Crossing Shopping Center, anchored by Market Basket & Target, and Gateway Center, anchored by Home Depot & Kohl’s. Alfred Street experiences a strong daily traffic count of about 27,400 vehicles, providing excellent exposure to area consumers.
OVER 2,000 LOCATIONS/PARENT GUARANTY SECURES THE LEASE
Town Fair Tire merged with Mavis Inc. in 2019 creating a company with over 2,000 locations. Both Mavis and Town Fair Tire entities are listed as the Tenant, and both are backstopped with a Mavis Tire Express Services TopCo Corp. parent guaranty.
BEST OF THE BEST LOCATIONS - STRICTLY RETAIL
The Town Fair Tire sites being offered were all in the founder’s personal portfolio and are positioned in the chain’s best retail locations. Town Fair Tire strictly sells tires and wheels and are located next to national retailers unlike other tire chains that also offer oil changes and tune-ups and have greater exposure to environmental issues.
OVER 50 RECENT SALE COMPS BETWEEN 5.34% TO 6.10%
See pages 18-20 to review over 50 sale comps of tire retailers that have all sold at average cap rates between 5.34% and 6.10% including three Town Fair Tires that just sold in December.
DURABLE INDUSTRY POSITIONED FOR STRONG GROWTH
Since electrical cars weigh more than their gas-powered counterparts, they also wear out tires more quickly which will only increase the demand for tires as the country transitions to electric cars.
ZERO LANDLORD RESPONSIBILITIES
Tenant has sole responsibility for all operating, capital expenses, roof & structure which removes any Landlord liability and makes this property truly an absolute net-lease investment.
LONG TERM ABSOLUTE NNN LEASE W/ BUMPS
16 years remaining on the base term with 10% bumps every 5 years.
STRATEGICALLY LOCATED NEAR
I-95 Situated on Alfred Street/Rt. 111 in Biddeford, ME, this Town Fair Tire is easily accessible from Exit 32 of I-95. This location benefits from its position between the popular Biddeford Crossing Shopping Center, anchored by Market Basket & Target, and Gateway Center, anchored by Home Depot & Kohl’s. Alfred Street experiences a strong daily traffic count of about 27,400 vehicles, providing excellent exposure to area consumers.
OVER 2,000 LOCATIONS/PARENT GUARANTY SECURES THE LEASE
Town Fair Tire merged with Mavis Inc. in 2019 creating a company with over 2,000 locations. Both Mavis and Town Fair Tire entities are listed as the Tenant, and both are backstopped with a Mavis Tire Express Services TopCo Corp. parent guaranty.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,144 SF
Year Built
2007
Price
$3,079,000
Price Per SF
$430.99
Cap Rate
6%
NOI
$184,724
Percent Leased
100%
Building Height
1 Story
Building FAR
0.08
Lot Size
1.93 AC
Zoning
B2
PROPERTY TAXES
| Parcel Number | BIDD-000002-000000-000035 | Improvements Assessment | $830,300 |
| Land Assessment | $1,009,900 | Total Assessment | $1,840,200 |
PROPERTY TAXES
Parcel Number
BIDD-000002-000000-000035
Land Assessment
$1,009,900
Improvements Assessment
$830,300
Total Assessment
$1,840,200
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