Auto Parts

National Tire & Battery | 10% Rent Bumps Every 5 Years | Middletown, DE

200 Celebration Ct, Middletown, DE 19709

Listing Price: $3,500,000

Cap Rate
4.80%
Tenant Name
National Tire & Battery
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
6,193
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.13

Investment Overview

PROMINENT CORNER PARCEL – The newly constructed store is positioned at the signaled intersection of Route 15 and Route 299 (19,727 VPD). The Property is on the opposing corner from a new Royal Farms gas and convenience store, and is located one-half-mile from Route 301, a Delaware bypass that travels from the Maryland border through Middletown and northeast where it intersects with Delaware Route 1. The Route 301 bypass was installed to circumvent Middletown proper as the area’s growth led to overcrowding of the roads.

Investment Highlights

  • NEW 15-YEAR LEASE WITH 10% INCREASES EVERY FIVE YEARS
  • STRONG CORPORATE GUARANTEE FROM TBC CORPORATION WHICH IS OWNED BY A 50-50 JOINT VENTURE BETWEEN MICHELIN NORTH AMERICA AND SUMITOMO CORPORATION ("BBB+" BY S&P)
  • APPEALING DEPRECIATION BENEFITS AVAILABLE

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    License(s): DE: RB-0002461

    Delaware

Auto Parts

National Tire & Battery | 10% Rent Bumps Every 5 Years | Middletown, DE

Listing Price: $3,500,000

Cap Rate
4.80%
Tenant Name
National Tire & Battery
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
6,193
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.13

Investment Highlights

  • NEW 15-YEAR LEASE WITH 10% INCREASES EVERY FIVE YEARS
  • STRONG CORPORATE GUARANTEE FROM TBC CORPORATION WHICH IS OWNED BY A 50-50 JOINT VENTURE BETWEEN MICHELIN NORTH AMERICA AND SUMITOMO CORPORATION ("BBB+" BY S&P)
  • APPEALING DEPRECIATION BENEFITS AVAILABLE

Investment Overview

PROMINENT CORNER PARCEL – The newly constructed store is positioned at the signaled intersection of Route 15 and Route 299 (19,727 VPD). The Property is on the opposing corner from a new Royal Farms gas and convenience store, and is located one-half-mile from Route 301, a Delaware bypass that travels from the Maryland border through Middletown and northeast where it intersects with Delaware Route 1. The Route 301 bypass was installed to circumvent Middletown proper as the area’s growth led to overcrowding of the roads.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    License(s): DE: RB-0002461

    Delaware

MM Texture Background
MM Textured Background Lower