Mavis Discount Tire
$2,213,748
816 Black Horse Pike, Mount Ephraim (Philadelphia MSA), NJ 08059
6.4
Cap Rate
141,679.92
NOI
Details:
Description:
15 Year NN Lease - Minimal Landlord Responsibilities
Rental Increase Every 5 Years and Throughout the Option Periods
Mavis is One of the Largest Independent Automotive Service Businesses in the U.S.
Retrofit to Suit for Tenant in 2019 - Significant Investments were Made into the Building
Brand New Roof in 2019 with a 15 Year Warranty
Excellent Signage and Access with Strong Traffic Counts
on Black Horse Pike - Strong and Heavily Traveled Retail Corridor
Hard Corner Location at a Signalized Intersection - Directly Across the Street from Audubon Shopping Center - 400K SF Walmart Anchored Center
Tenant Exercised an Early Extension to the Lease in 2020
Dense Suburban Demographics - Located in the Philadelphia MSA
Directly Across the Street from National Tenants that
Include: Chick Fil A, Walmart, Ross Dress for Less, Five Below, Firestone, Sonic, Arby's, Applebee's, Acme Grocery Store Among Many Others
Mount Ephraim is a small borough in Camden County, New Jersey, United States. It is located about 8 miles south of Philadelphia, Pennsylvania. According to the 2020 census, it had a population of 4,651 people
Mount Ephraim was named after Ephraim Albertson, who owned a tavern in the area in the early 1800s23 It was incorporated as a borough in 1926, from portions of the former Centre Township
Mount Ephraim is known for being the subject of a landmark U.S. Supreme Court case, Schad v. Mount Ephraim, in 1981. The case involved the First Amendment rights of a bookstore that featured nude dancing, which was prohibited by the borough’s zoning ordinance. The court ruled in favor of the bookstore owners, finding that the ordinance violated their freedom of expression
Mount Ephraim has a total area of 0.91 square miles, of which 0.88 square miles is land and 0.02 square miles is water It has a diversity index of 36, which means that there is a moderate chance that two people chosen at random from the area belong to different races or ethnic groups. The median household income in Mount Ephraim was $85,331 in 2023, and the median home value was $209,104
Documents:
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Mavis_Discount_Tire_-_15_YR_Lease_-_Philadelphia_MSA_Encore_MP.pdf |
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