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    24 W Germantown Pke Norristown, PA

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    For Sale
    $2,125,568

    Long-term NNN lease with attractive rent increases and renewal options.

    Property size:
    11,706 SF
    Lot size:
    2.11 Acres

    Property Features for 24 W Germantown Pke

    General Information

    Size
    11,706 SF
    Lot size
    2.11 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 Auto Service Property

    This investment property is subject to a long-term, triple net (NNN) lease with 16 years remaining and no landlord responsibilities. The lease is subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, which operates over 2000 units and is the largest tire service operator in the US. Mavis operates under a diversified business mix including Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, and Town Fair Tire. The tire services business is highly recession-resistant; during COVID-19, tire shops and maintenance experienced an average revenue increase of 44%. The lease features scheduled increases of 7.50% every 5 years and is also subject to 6, 5-year options to extend the lease term for an additional 30 years. With a price per SF of $182, this investment property is an attractive opportunity that is priced below development cost. Compared to other tire retailers, this investment also has a significantly lower r/sf at $9.99. The property is suitable for auto shops, automotive properties, retail, and specialty purposes.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Map

    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.383254545455
    Latitude
    40.1155

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    FAQs

    What type of property is this?
    Auto shop - Long-term NNN lease with attractive rent increases and renewal options.
    Where is this auto shop located?
    The property is located at 24 W Germantown Pke Norristown, PA.
    What is the asking price?
    The asking price for this property is $2,125,568.
    What are key features of this property?
    This property features: - Long-Term NNN Lease: Enjoy 16 years remaining with no landlord responsibilities.; - Strong Corporate Guarantee: Backed by Mavis Tire Express Services TopCo Corp, a 2000+ unit operator.; - Recession-Resistant Business: Tire services demonstrated resilience and growth during economic downturns.
    (332) 345-2408
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    24 W Germantown Pke Norristown, PA
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