77 Reservoir Ave - Auto Dealership FOR SALE


Providence, RI 02907- Reservoir
$14,901,785 USD
203-887-8797
77 Reservoir Ave, Providence, RI for Sale
$14,901,785 USD
Auto Dealership - FOR SALE
1/3
null | 6.5% Cap Rate

77 Reservoir Ave
Providence, RI 02907
Reservoir


HIGHLIGHTS

  • Corporate Guarantee from Tesla, Inc
  • Recent Lease Execution with Strong Rental Increases
  • Continued Growth in the Electric Vehicle Sector
  • Heavy Traffic in the Immediate Area

OVERVIEW

Surmount is pleased to present the exclusive listing for a Tesla Sales, Service, & Delivery Center located at 77 Reservoir Ave, Providence, RI 02907. The site consists of roughly 77,985 rentable square feet of building space on an estimated 12.24-acre parcel of land. This Tesla Sales, Service, & Delivery Center is subject to a 10-year Double Net (NN) lease, which commenced 6/25/2024. The current annual rent is $968,616 and has scheduled increases of 10.00% every 5 years.

FOR SALE DETAILS

PRICE

$14,901,785 USD

PRICE/SF

$194 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tesla

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Narragansett Ave

LAND ACRES

12.24 AC

LAND SF

533,174 SF

ZONING

C-3

APN/PARCEL ID

PROV-510326-000000-000000

ASK ABOUT THIS PROPERTY

Anthony D'AmbrosiaSurmountMore Info
203-887-8797

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

Anthony D'AmbrosiaSurmountMore Info
203-887-8797

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