565 Alfred Rd - Auto Repair FOR SALE


Biddeford, ME 04005
$3,079,000 USD
617-896-7231
565 Alfred Rd, Biddeford, ME for Sale
$3,079,000 USD
Auto Repair - FOR SALE
1/1
null | 6% Cap Rate

565 Alfred Rd
Biddeford, ME 04005


OVERVIEW

CURRENT PORTFOLIO AVAILABILITY AND FURTHER INFORMATION AT WWW.MMTFT.COM 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 6.10% See pages 18-20 to review over 50 sale comps of tire retailers that have all sold at average cap rates between 5.34% and 6.10% including three Town Fair Tires that just sold in December. 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 NEAR I-95 Situated on Alfred Street/Rt. 111 in Biddeford, ME, this Town Fair Tire is easily accessible from Exit 32 of I-95. This location benefits from its position between the popular Biddeford Crossing Shopping Center, anchored by Market Basket & Target, and Gateway Center, anchored by Home Depot & Kohl’s. Alfred Street experiences a strong daily traffic count of about 27,400 vehicles, providing excellent exposure to area consumers. 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

$3,079,000 USD

PRICE/SF

$431 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Town Fair Tire | A Mavis Corporate Credit

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.93 AC

LAND SF

84,071 SF

ZONING

-

APN/PARCEL ID

-

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.