Listed by Encore Real Estate Investment Services
$1,219,700
MONRO AUTO SERVICE & TIRE CENTER
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 4,137
Cap Rate 6.25%
NOI $76,230
Tenancy Single
Lease Type NN
Lease Term 20
Lease Expiration 09/30/2036
Remaining Term 10.3
Rent Bumps Yes
Lease Options 2, 5 Year Options to Renew
Price per SqFt $295
Acreage 0.640
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 09/18/2016
Ground Lease No
Brand New 10 Year Lease Renewal - September 2036 Lease Expiration
Investment highlights
- Brand New 10-Year Renewal Demonstrates Commitment to the Location - Monro recently executed a new 10-year lease renewal, highlighting its long-term commitment to the site. The lease also includes two (2) five-year renewal options.
- Publicly Traded Tenant (NASDAQ: MNRO) - Monro, Inc. operates more than 1,300 locations nationwide and is one of the largest automotive service and tire providers in the United States.
- Long-Term Occupancy with Renewal Options - Monro has operated at this location since 2016, demonstrating a commitment to the site.
- Hard Corner Signalized Intersection Prime visibility and access at a high-traffic signalized corner along Miller Road—one of Mid Michigan's busiest retail corridors—enhancing long-term real estate value and re-tenanting viability.
- NN Lease with Minimal Landlord Responsibilities Landlord is responsible for roof, structure, and parking lot replacement (not maintenance). The roof was recently replaced, reducing future capex exposure.
- Dense Surrounding Retail and Consumer Base - Located adjacent to national retailers like Target, Chipotle, Panera, Jimmy John's, PetSmart, Big Lots, and Panda Express. The property is also across from Genesee Valley Center, Flint's largest shopping destination.
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$76,230.00
$6,352.50/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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