255 Route 44 - Freestanding FOR SALE


Raynham, MA 02767
$3,721,000 USD
202-536-3754
255 Route 44, Raynham, MA for Sale
$3,721,000 USD
Freestanding - FOR SALE
1/2
null | 6% Cap Rate

255 Route 44
Raynham, MA 02767


HIGHLIGHTS

  • 16-YR ABSOLUTE NNN LEASE
  • STRONG CHAIN PERFORMER
  • CORP GUARANTY

OVERVIEW

STRONG PERFORMING STORE IN THE CHAIN Ranked #55 out of 119 locations by Placer.ai based on Visits PSF ranking BEST OF THE BEST LOCATIONS - STRICTLY RETAIL The Town Fair Tire sites being offered were all in the founder’s personal portfolio and are positioned in the chain’s best retail locations. Town Fair Tire strictly sells tires and wheels and are located next to national retailers unlike other tire chains that also offer oil changes and tune-ups and have greater exposure to environmental issues. OVER 50 RECENT SALE COMPS BETWEEN 5.34% TO 6.03% See pages 17-19 to review over 50 sale comps of tire retailers like Mavis, Goodyear and Firestone that have all sold at average cap rates between 5.34% and 6.03% since 1/1/23. DURABLE INDUSTRY POSITIONED FOR STRONG GROWTH Since electrical cars weigh more than their gas-powered counterparts, they also wear out tires more quickly which will only increase the demand for tires as the country transitions to electric cars. ZERO LANDLORD RESPONSIBILITIES Tenant has sole responsibility for all operating, capital expenses, roof & structure which removes any Landlord liability and makes this property truly an absolute net-lease investment. LONG TERM ABSOLUTE NNN LEASE W/ BUMPS 16 years remaining on the base term with 10% bumps every 5 years. STRATEGICALLY LOCATED OFF RT-24 Located on Greater Boston’s Rt 44/New State Highway in Raynham, MA, this Town Fair Tire is conveniently near Exit 20 of Route 24. It’s close to Cape Roads Plaza, anchored by ALDI, Dollar Tree and AAA, and across the street from Shaw’s Plaza with Marshall’s, PetSmart and Bernie & Phyl’s. New State Highway transports around 27,000 vehicles daily, providing excellent exposure on Route 44. OVER 2,000 LOCATIONS/PARENT GUARANTY SECURES THE LEASE Town Fair Tire merged with Mavis Inc. in 2019 creating a company with over 2,000 locations. Both Mavis and Town Fair Tire entities are listed as the Tenant, and both are backstopped with a Mavis Tire Express Services TopCo Corp. parent guaranty.

FOR SALE DETAILS

PRICE

$3,721,000 USD

PRICE/SF

$531 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Town Fair Tire - (A Mavis Brand)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.74 AC

LAND SF

119,402 SF

ZONING

-

APN/PARCEL ID

RAYN-000014-000225

ASK ABOUT THIS PROPERTY

Dean ZangMarcus & MillichapMore Info
202-536-3754

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Dean ZangMarcus & MillichapMore Info
202-536-3754

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.