286 E Main St - Freestanding FOR SALE


Westfield, MA 01085
$2,997,000 USD
617-896-7231
286 E Main St, Westfield, MA for Sale
$2,997,000 USD
Freestanding - FOR SALE
1/1
null | 6% Cap Rate

286 E Main St
Westfield, MA 01085


OVERVIEW

CURRENT AVAILABILITY AND FURTHER INFORMATION AT WWW.MMTFT.COM STRONG PERFORMING STORE IN THE CHAIN Ranked #56 out of 119 locations by Placer.ai based on Visits 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 15-17 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 ON RT-20 Situated on East Main Street in Westfield, MA, this Town Fair Tire is conveniently located on Rt. 20 with proximity to Exit 41 of I-90. It’s strategically located directly across the street from three strong shopping centers that draw significant customer traffic from tenants including Home Depot, Walmart, Big Y, ALDI, TJ Maxx and PriceRite. East Main Street has a daily traffic volume of approximately 12,400 vehicles per day. 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

$2,997,000 USD

PRICE/SF

$414 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

-

APN/PARCEL ID

WFLD-000108-000000-000105

ASK ABOUT THIS PROPERTY

James KouryInstitutional Property AdvisorsMore Info
617-896-7231

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James KouryInstitutional Property AdvisorsMore Info
617-896-7231

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