Auto Parts

Mavis Discount Tire

589 Willis Ave, Williston Park, NY 11596

Listing Price: $3,545,455

Cap Rate
5.50%
Tenant Name
Mavis Discount Tire
Years Remaining On Lease
20.0
Gross SF
4,390
Guarantor
Corporate Guarantee
Rentable SF
4,390
Price/Gross SF
$807.62
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.42

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Mavis Discount Tire located at 589 Willis Avenue in Williston Park, New York. The site consists of roughly 4,390 rentable square feet of building space on estimated 0.23 acre parcel of land.
This Mavis Discount Tire is subject to a 20-year Absolute Triple-Net (NNN) lease, which commence will commence upon the close of escow. The annual rent is $195,000 and is scheduled to increase by five (5%) percent every five (5) years. There are six (6), five (5)-year tenant renewal options.

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Listing Price: $3,545,455

Cap Rate
5.50%
Tenant Name
Mavis Discount Tire
Years Remaining On Lease
20.0
Gross SF
4,390
Guarantor
Corporate Guarantee
Rentable SF
4,390
Price/Gross SF
$807.62
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.42

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Mavis Discount Tire located at 589 Willis Avenue in Williston Park, New York. The site consists of roughly 4,390 rentable square feet of building space on estimated 0.23 acre parcel of land.
This Mavis Discount Tire is subject to a 20-year Absolute Triple-Net (NNN) lease, which commence will commence upon the close of escow. The annual rent is $195,000 and is scheduled to increase by five (5%) percent every five (5) years. There are six (6), five (5)-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

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