Tesla | New 10yr Corp NNN 77 Reservoir Ave 77,000 SF Retail Building Providence, RI 02907 For Sale

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, investment grade, Tesla Sales, Service, and Delivery Center (SSD) investment property located in Providence, RI. The tenant, Tesla, Inc. (dba Tesla Motors, Inc.), recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features scheduled rental increases after year 5 and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB | NASDAQ: TSLA), and is NNN leased with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Tesla is one of the world’s most valuable companies and remains the world’s most valuable automaker. The subject is the third largest Tesla Service Center site (SSD) in the country at nearly 77K SF, making it a perfect fit for Tesla’s logistics needs for vehicle delivery & customer returns.