325 Main St Lacey Township, NJ 08734

Property Details for 325 Main St

Lot size

1.95 lot acres

Property size

5,210 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a 5,210 square foot Mavis Discount Tire located at 325 N Main St, Lacey Township, NJ 08734. The property sits on a 1.95-acre lot and boasts a strong 20-year NNN lease with 16.6 years remaining, providing significant long-term stability. The current annual net operating income (NOI) is $200,286, representing a compelling 5.25% cap rate. The lease commenced June 16, 2021, and expires June 29, 2041. Annual rent increases of 1.5% are built in, starting in year seven, and continue through six 5-year renewal options. The property's price per square foot is $732.24, reflecting its prime location and strong tenant. This is a turnkey investment with minimal landlord responsibilities, offering a secure and attractive return on investment. The property is 100% occupied by a well-established national brand, Mavis Discount Tire, minimizing vacancy risk. This presents a rare opportunity to acquire a high-performing, long-term NNN leased asset in a desirable location. The property's strong financials, coupled with the long-term lease and built-in rent increases, make this an ideal addition to any investment portfolio. The asking price for this exceptional property is $3,814,971.