TOK Commercial is pleased to exclusively offer a strong retail investment opportunity for sale in the heart of Meridian.
Commercial Tire, located at 100 W. Pennwood Street in Meridian, is a single-tenant, NNN leased asset. Occupied by a long-term national tenant with forty-two locations across four states, Commercial Tire brings a 10-year initial lease term. This tenancy provides strong stability to the offering for prospective buyers.
The property's location is prominently positioned in well-established North Meridian, one of the nation’s fastest-growing cities. Commercial Tire sits directly on Meridian Road, one of the most frequented arterials in Meridian, with exposure to over 20,000 vehicles per day. This retail-centric, high visibility location, is right outside downtown Meridian. Surrounding retailers include Rite Aid, Starbucks, McDonald’s, Albertsons, Dairy Queen, Blimpie, Stinker Station, and many more.
The asset is offered at a 5.04% cap rate. This offering is a tremendous opportunity for an investor or 1031 exchange buyer to achieve stable returns with no management involvement, in an extremely high-demand investment market.