442 Elizabeth AveFranklin Township, NJ 08873

For Sale
$3,619,048

High-yield NNN auto shop investment.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a single-tenant, 5,269 square foot Mavis Discount Tire located at 442 Elizabeth Ave, Franklin Township, NJ 08873. The property sits on a 1.02-acre lot and is subject to a 20-year absolute triple-net (NNN) lease, commenced June 16, 2021, and expiring June 29, 2041, leaving approximately 16.6 years remaining. The current annual net operating income (NOI) is $190,000, representing a 5.25% cap rate and a price per square foot of $686.86. The lease includes attractive rental increases of 1.50% annually, beginning in year seven and continuing through six, five-year renewal options. This presents a low-maintenance, high-return investment with minimal landlord responsibilities, secured by a nationally recognized brand in the automotive tire services industry. The property boasts 100% occupancy and a strong financial performance history. This is an ideal opportunity for investors seeking a stable, long-term, passive income stream with significant upside potential. The building is a single-story structure.

Highlights

  • 5,269 SF Mavis Discount Tire on a 1.02-acre lot in Franklin Township, NJ.
  • 20-year NNN lease with ~17 years remaining, starting June 16, 2021.
  • $190,000 annual NOI, 5.25% cap rate, $686.86/SF.
  • 1.5% annual rent increases after year seven, plus six 5-year renewal options.

Property Details for 442 Elizabeth Ave

Property type
Other retail properties, Automotive properties
Square Feet
5,269 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
44,431 SF

Location Insight

City
Franklin Township
County
Somerset
State
New Jersey
Latitude
40.5317462
Longitude
-74.5397828
442 Elizabeth Ave, Franklin Township, New Jersey

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442 Elizabeth Ave
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