June 16, 2022 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Mr. Tire in Fredericksburg, Virginia. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,975,000.
Mr. Tire is located at 50 Sebring Drive in Fredericksburg, Virginia. The Property was constructed in 2002 and consists of a 7,993 square foot building on a 1.49-acre parcel. The original lease began in 2003 and Mr. Tire currently has 6+ years remaining on their triple net lease with three, 5-year renewal options. The lease also calls for attractive rental increases every 5 years through the base term and at the start of each renewal option. The lease features a corporate guarantee from Monro Muffler & Brake, Inc. Mr. Tire is located in the extended retail trade area along US Route 17, the area’s primary retail corridor which sees more than 42,000 vehicles per day. The commercial corridor begins at the interchange with Interstate 95 and follows Route 17 for several miles. The area features numerous national retailers as well as significant business operations, both of which drive traffic and provide a large employee and consumer business to the area. Notable nearby employers include Geico, Intuit, Marketfare Foods, and Coca-Cola.
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.