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Views: 158 DOM: 424 Updated: 11.07.24 Posted: 10.06.23 Status: Active

Summary

Price $3,100,000
Built/Renov 1980
Tenant Mavis Discount Tire
Cap Rate 5.50%
Lease Type NN+
Guarantor Corp Rated
Size/SF 12,200
Lease Start 07-01-1994
#Units 879
Price/SF $254.10
Expiration 10-31-2033
Tenant Type Automotive
NOI $170,500
R. Term 8.11
Ownership Fee Simple
Rent/SF $13.93
Increases 5.0%/3/yrs
Pop 5Mi 146,052
Lot/AC 1.02
Options 2/5yrs/5%
AHHI 5Mi $134,028

Lease Highlights

  • Mavis Discount Tires has been operating at this site for over 27 years and recently extended their lease
  • The tenant has 8 years remaining on their primary lease with 2 (5-year) options to renew
  • Lease features 5% rental increase on 12/1/2026, 10% increase on 12/1/2031, and 5% in each option period
  • Favorable NN+ lease with landlord responsible for the roof, foundation and structural portions of the building
  • Corporate guaranteed lease

Location Description

Mavis Discount Tire is strategically situated on Bethlehem Pike, PA 309, which sees a daily traffic count of 26,903 vehicles. The subject property is easily accessible with ingress and egress onto Bethlehem Pike and it sits just a quarter mile from Montgomeryville's 'Five Points' intersection, where PA 309, PA 463, and US 202 Business intersect. This intersection sees a combined daily traffic...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Mavis Discount Tire (“Mavis”) is an independent American tire dealer and automotive service chain. Founded in 1972, the chain offers additional services including brakes, alignments, suspension,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,632 74,796 154,030
2023 Total Population : 8,670 74,227 151,773
2023 Employed Civilian Pop : 4,855 40,819 82,196
2023 Total Businesses : 448 3,064 5,265
2023 Average Household Income : $ 160,393 $ 144,796 $ 158,150
2023 Total Consumer Spending : $ 456 M $ 3494 M $ 7761 M
2023 Median Age : 43 43 44
2023 Total Households : 3,376 28,523 58,159
2023 Pop Age 25+: Bachelor's Degree : 2,318 16,724 36,039
2023 Average Home Value : $ 469,581 $ 438,897 $ 480,628
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bethlehem Pike PkDr 2021 34,458 0.14 mi
Bethlehem Pike Connecting Rd 2019 15,378 0.22 mi
Horsham Road Montgomery Glen Dr 2022 7,653 0.22 mi
PA 463 Bethlehem Pike 2021 14,688 0.31 mi
Doylestown Road Bethlehem Pike 2021 11,630 0.35 mi
Cowpath Road Morgan St 2022 8,516 0.41 mi
Cowpath Road Morgan St 2022 8,516 0.43 mi
Upper State Road Sunrise Dr 2021 11,390 0.45 mi
Upper State Rd Bethlehem Pike 2019 5,497 0.46 mi
N Wales Rd Rose Ln 2017 8,572 0.48 mi

Listing Broker

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