Listed by Encore Real Estate Investment Services
$1,607,800
MONRO AUTO SERVICE & TIRE CENTER
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,772
Cap Rate 6.25%
NOI $100,485
Tenancy Single
Lease Type NN
Lease Term 20
Lease Expiration 09/30/2036
Remaining Term 10.3
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $237
Year Built 2005
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 and confidence in the market.
- Publicly Traded Tenant (NASDAQ: MNRO) Monro, Inc. is one of the nation's largest automotive service providers, operating approximately 1,300 locations across multiple brands throughout the United States
- NN Lease with Limited Landlord Responsibilities Tenant is responsible for taxes, insurance, and CAM. Landlord obligations are limited to roof (Brand New Roof 2025,) structure, and parking lot replacement—recent upgrades reduce near-term capital exposure
- Long Operating History as an Auto Repair Facility - 2005 Construction
- The lease includes 10% rental bumps in the two (2) renewal options—providing a stable, escalating income stream
- Retail-Dense Corridor with National Tenants Surrounded by top-performing national brands including Walgreens, McDonald's, Tim Hortons, Domino's, Applebee's, Burger King, and more—positioning the asset within a highly synergistic retail cluster
- Highway Connectivity and Accessibility Easy access to I-69 and US-23, with strong visibility and accessibility for both local residents and regional commuters
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$100,485.00
$8,373.75/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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