Mavis Discount Tire
For Sale
Contact for pricing
291 E Hanover Ave, Morristown, NJ 07960
The property is leased on an absolute triple-net basis with multiple renewal options.
Property Size6,292 SF
Lot Size0.81 Acres
Days on Market142
Property Features for 291 E Hanover Ave
General Information
Standard status
Active
Size
6,292 SF
Lot size
0.81 Acres
Property subtype
Retail
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Glen Kunofsky · License #NY 49KU1129178
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 3:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
The property includes approximately 6,292 rentable square feet within an estimated 0.81-acre parcel at 291 East Hanover Ave in Morristown, New Jersey. It is occupied by Mavis Discount Tire under an absolute NNN lease, providing a clearly defined long-term lease structure for ownership review.
The lease began June 17, 2021, and has a 20-year initial term. Contractual rent increases of 1.50% annually begin in year 7. The agreement also includes 6 renewal options, each spanning 5 years, creating an extended contractual framework beyond the initial term.
The lease began June 17, 2021, and has a 20-year initial term. Contractual rent increases of 1.50% annually begin in year 7. The agreement also includes 6 renewal options, each spanning 5 years, creating an extended contractual framework beyond the initial term.
Key Highlights
- Approximately 6,292 rentable square feet on an estimated 0.81‑acre parcel
- Mavis Discount Tire occupancy at 291 East Hanover Ave, Morristown, NJ 07960
- 20‑year absolute triple‑net lease commenced June 17th, 2021
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
338k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Superstores 29%
Dining 24%
Apparel 8%
Walmart
Superstores
98,740 visits/mo
0.4 miles
QuickChek
Shops & Services
42,309 visits/mo
0.1 miles
Five Below
Shops & Services
23,851 visits/mo
0.1 miles
The Habit Burger Grill
Dining
21,715 visits/mo
0.5 miles
McDonald's
Dining
18,729 visits/mo
0.3 miles
Demographics for 07960, NJ
45,609
Population
18,978
Households
2.4
Avg Household Size
40
Median Age
68%
College-Educated
94%
High-School Grad
34.6 sq mi
ZIP Area
1,318
Density / Sq Mi
$149,462
Median Household Income
$75,266
Median Earnings
$2,173
Median Rent
$701,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - The property is leased on an absolute triple-net basis with multiple renewal options.
Where is this nnn property located?
The property is located at 291 E Hanover Ave Morristown, NJ.
What are key features of this property?
This property features: Approximately 6,292 rentable square feet on an estimated 0.81‑acre parcel; Mavis Discount Tire occupancy at 291 East Hanover Ave, Morristown, NJ 07960; 20‑year absolute triple‑net lease commenced June 17th, 2021
