December 31, 2020 – Hobart Hare of Horvath & Tremblay has successfully completed the sale of Mr. Tire in Lexington Park, Maryland. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,531,500.
Mr. Tire is located at 21730 Great Mills Road in Lexington Park, Maryland. The stand-alone building consists of 1,593 square feet on 0.34-acres of land. The building was constructed in 2004 for the tenant. Mr. Tire recently extended their lease by 10 years and now has 12+ years remaining on their double-net lease with two additional 10-Year renewal options. The primary lease term has a rent increase in 2028 and scheduled rent increases based on the CPI at the start of each renewal option. The property is well situated along great Mills Road, and benefits from a corner location with outstanding frontage and visibility. The property is surrounded by national retailers that drive traffic to the immediate area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.