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Mavis Discount Tire 6301-6319 Frankford Ave 15,535 SF 100% Leased Retail Building Philadelphia, PA 19135 $2,125,568 ($136.82/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Triple Net (NNN) Lease
- Recession Resistant Due to Non Discretionary Nature of Services
- Strong Corporate Guarantee
- Attractive Rent Increases and Renewal Options
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 6301 Frankford Avenue, Philadelphia, PA. The site consists of roughly 15,535 rentable square feet of building space on an estimated 0.98-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which commenced 12/1/2020. The current annual rent is $116,906 and has scheduled increases of 7.50% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
15,535 SF
Building Class
C
Year Built
1950
Price
$2,125,568
Price Per SF
$136.82
Cap Rate
5.50%
NOI
$116,906
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.98 AC
Zoning
CA1 - Retail/commerical
Frontage
AMENITIES
- Pylon Sign
- Signage
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 882064330 | Improvements Assessment | $1,615,520 |
| Land Assessment | $403,880 | Total Assessment | $2,019,400 |
PROPERTY TAXES
Parcel Number
882064330
Land Assessment
$403,880
Improvements Assessment
$1,615,520
Total Assessment
$2,019,400
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