77 Reservoir Ave, Providence, RI

Listing office SRS Real Estate Partners | San Diego Show Phone

Listing date Nov 28, 2024

Source Moodyscre

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Overview

This freestanding Tesla Sales, Service, and Delivery Center (SSD) is available for purchase in Providence, RI. The property is NNN leased to Tesla, Inc. (dba Tesla Motors, Inc.), who recently signed a new 10-year lease with two 5-year options to extend, demonstrating their commitment to the site. The lease, signed by the corporate entity (S&P: BBB | NASDAQ: TSLA), includes scheduled rental increases after year 5 and at the beginning of each option period. As a NNN leased property, landlord responsibilities are limited. The property is approximately 77,000 square feet, making it the third largest Tesla Service Center site (SSD) in the country.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

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

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Location Insight

• Map
• Local Demand

City

Providence

County

Providence

State

Rhode Island

Longitude

-71.4286

Latitude

41.7963

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FAQs

What type of property is this?

Automotive property - Freestanding Tesla Sales, Service, and Delivery Center in Providence, RI.

Where is this automotive property located?

The property is located at 77 Reservoir Ave Providence, RI.

What are key features of this property?

This property features: New 10‑year NNN lease with Tesla, Inc. (S&P: BBB | NASDAQ: TSLA).; Investment‑grade tenant with limited landlord responsibilities.; Scheduled rental increases after year 5 and at the beginning of each option period.