Auto Dealership
Tesla Store & Service Center | Regional Hub Location for RI | 372,000+ People in 5-Miles
77 Reservoir Ave, Providence, RI 02907
Listing Price: $15,498,000
Cap Rate
6.25%
Tenant Name
Tesla, Inc.
Years Remaining On Lease
8.6
Guarantor
Corporate Guarantee
Rentable SF
77,985
Lease Type
Double Net
Rent Per Square Feet
$12.42
Investment Overview
Marcus & Millichap is pleased to present a Tesla Store & Service Center located in Providence, Rhode Island.
Tesla Store & Service Center | Regional Hub Location for RI | 372,000+ People in 5-Miles
Investment Highlights
- Corporate Guarantee (NASDAQ: TSLA – $1.09T Market Cap)
- Regional Hub and Flagship Rhode Island SSD Location | One of Largest Facilities on East Coast
- New 10-Year Lease | 10 Percent Rental Increases Every Five Years | Minimal Landlord Responsibilities
- Well-Below Market Rent for Average Tesla and Local Providence Market
- Dense Trade Area with Strong Traffic Drivers – 723k+ People in 10-Miles
Exclusively Listed By
Broker of Record
-
Thomas Shihadeh
Vice President/Regional Manager
Financing By
Auto Dealership
Tesla Store & Service Center | Regional Hub Location for RI | 372,000+ People in 5-Miles
Listing Price: $15,498,000
Cap Rate
6.25%
Tenant Name
Tesla, Inc.
Years Remaining On Lease
8.6
Guarantor
Corporate Guarantee
Rentable SF
77,985
Lease Type
Double Net
Rent Per Square Feet
$12.42
Investment Highlights
- Corporate Guarantee (NASDAQ: TSLA – $1.09T Market Cap)
- Regional Hub and Flagship Rhode Island SSD Location | One of Largest Facilities on East Coast
- New 10-Year Lease | 10 Percent Rental Increases Every Five Years | Minimal Landlord Responsibilities
- Well-Below Market Rent for Average Tesla and Local Providence Market
- Dense Trade Area with Strong Traffic Drivers – 723k+ People in 10-Miles
Investment Overview
Marcus & Millichap is pleased to present a Tesla Store & Service Center located in Providence, Rhode Island.
Exclusively Listed By
Broker of Record
-
Thomas Shihadeh
Vice President/Regional Manager
Financing By
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