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134 Water St Newton, NJ 07860

For Sale
$3,710,177

Long-term NNN lease with corporate guarantee and rent increases.

Property size:
11,412 SF
Lot size:
1.51 Acres

Property Features for 134 Water St

General Information

Size
11,412 SF
Lot size
1.51 Acres

Source: NNN Pro Group Agent Glen Kunofsky

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

NNN Leased Mavis Tire Shop

This property is subject to a long-term, triple net (NNN) lease with 16 years remaining and no landlord responsibilities. The lease features scheduled increases of 7.50% every 5 years and includes 6, 5-year options to extend the lease term for an additional 30 years. The lease is subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, which operates over 2000 units under the brands Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, and Town Fair Tire. The tire services business is considered recession-resistant; tire shops and maintenance experienced an average revenue increase of 44% during COVID-19. The property is located in Newton, NJ.
Insight Report Location Intelligence

Current Use by Public Records

Auto shops

Suggested Use

Restaurant Realty agency Spa & Massage Building Supply Law Firm Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Rescuetech Truck Services, Mark's Complete Automotive, Newton Auto Body & Restoration, Midas, Midtown Collision

Location Insight

  • Map
  • Local Demand
City
Newton
County
Sussex
State
New Jersey
Longitude
-74.7465916
Latitude
41.0662297

FAQs

What type of property is this?
Auto shop - Long-term NNN lease with corporate guarantee and rent increases.
Where is this auto shop located?
The property is located at 134 Water St Newton, NJ.
What is the asking price?
The asking price for this property is $3,710,177.
What are key features of this property?
This property features: - Long-Term Triple Net (NNN) Lease with 16 Years Remaining, offering passive income with no landlord responsibilities.; - Strong Corporate Guarantee from Mavis Tire Express Services TopCo Corp (2000+ Units).; - Recession-Resistant Business (Tire Services) with Demonstrated Revenue Increase During COVID-19.
More about this property
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