Casal Group is pleased to offer this net lease investment with Tesla, Inc. The property is located within AVE Aviation & Commerce Center, a 2.5M square foot business park, with tenants that include Amazon, the US Postal Service, and Race Trac.
The property maintains 2,500 SF situated on 3 acres, fully paved, fenced and lighted. The tenant, Tesla, Inc. is an American multinational automotive and clean energy company with a 10-year lease.
VALUABLE TENANT: Tesla, Inc. is the tenant.
LONG TERM LEASE: The lease term is 10.5 years, with additional options up to 25 years.
CASH FLOW: The year 1 NOI is $600,000 NNN. The lease provides for 3% increases annually.
LOCATION / EXPOSURE: Great location with frontage on Red Road (50,000 cars per day), and hard corner entrance into the park.
ZONING: GP Zoning provides for future flexibility for retail, hotels, and industrial.