May 21, 2024 – Aaron Huntley and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Midas in Warwick, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $910,000.
Midas is located at 999 Bald Hill Road in Warwick, Rhode Island. Midas consists of a 5,576 square foot building with ten (10) automotive bays and an office/retail area. Midas has been at this location since 2017 and recently exercised a renewal option demonstrating their commitment to the site and the market. Midas has 3+ years remaining on their Absolute NNN Ground Lease with two (2), five-year renewal options. Their lease calls for attractive annual rent increases based on the change in CPI throughout the primary lease term and renewal options. The property is extremely well located along Bald Hill Road (RI Route 2), the area’s primary commercial corridor. The Property enjoys outstanding visibility, frontage and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Warwick Mall, Kent County Memorial Hospital, TF Green Airport, and major roadways including US Route 1 and Interstates 95 and 295, all of which drive traffic to the area. Additionally, the Property is within minutes of several area schools, multiple nationally branded hotel/motels, and is surrounded by densely populated residential neighborhoods providing a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.