Town Fair Tire | 1239 US Route 302
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Town Fair Tire 1239 US Route 302
6,854 SF Retail Building Barre, VT 05641 $5,351,788 CAD ($781 CAD/SF) 6.25% Cap Rate
Investment Highlights
- At closing the tenant will execute a brand new 20-year absolute triple-net lease. The lease will have no landlord responsibilities.
- Recession Resistant Due to Non Discretionary Nature of Services
- The lease will be subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp
- The lease will feature scheduled increases of 5.00% every 5 years, hedging against inflation.
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Town Fair
Tire located at 1239 US 302, Berlin, VT 05461. The site consists of
roughly 6,854 rentable square feet of building space on an
estimated 0.84-acre parcel of land. This Town Fair Tire is subject
to a 20-year Triple Net (NNN) lease which will commence upon
close of escrow. The annual rent will be $237,832 and has
scheduled increases of 5.00% Every 5 Years.
Tire located at 1239 US 302, Berlin, VT 05461. The site consists of
roughly 6,854 rentable square feet of building space on an
estimated 0.84-acre parcel of land. This Town Fair Tire is subject
to a 20-year Triple Net (NNN) lease which will commence upon
close of escrow. The annual rent will be $237,832 and has
scheduled increases of 5.00% Every 5 Years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
6,854 SF
Building Class
C
Year Built
1999
Price
$5,351,788 CAD
Price Per SF
$781 CAD
Cap Rate
6.25%
NOI
$334,487 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Land Acres
0.84 AC
Zoning
Commercial
Parking
31 Spaces (4.52 Spaces per 1,000 SF Leased)
Frontage
182 ft on US Route 302
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 060-018-11496 | Improvements Assessment | $930,717 CAD |
| Land Assessment | $472,925 CAD | Total Assessment | $1,403,642 CAD |
PROPERTY TAXES
Parcel Number
060-018-11496
Land Assessment
$472,925 CAD
Improvements Assessment
$930,717 CAD
Total Assessment
$1,403,642 CAD
-
Power Broker Glen Kunofsky -
Matthew Anuszkiewicz -
Robert Stein -
Davis Ford -
NNN Pro Group
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Town Fair Tire | 1239 US Route 302
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