Listed by SURMOUNT
$2,355,000
Meineke Car Care
Details
Property Type Retail
Sub Type Automotive
Square Footage 11,830
Cap Rate 7%
NOI $164,868
Occupancy 100%
Tenancy Single
Brand/Tenant Meineke
Lease Type NNN
Lease Term 20
Lease Expiration 11/30/2045
Remaining Term 19.4
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1960
Acreage 1.180
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 11/10/2025
Ground Lease No
Ownership Fee Simple
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Meineke Car Care located at 1845 North Wayne Road, Westland, MI 48185. The site consists of roughly 11,830 rentable square feet of building space on an estimated 1.18-acre parcel of land. Meineke Car Care is subject to a 20-year Triple Net (NNN) lease, which commenced 11/10/2025. The current annual rent is $164,868 and has scheduled increases of 10.00% Every 5 Years.
Investment highlights
- Absolute Triple Net Lease with No Landlord Responsibilities | 20-year triple net lease with 10% rental increases every 5 years and four 5-year renewal options, creating durable income and long term value.
- Largest Meineke Franchisee in the Nation | This Meineke is operated by Marcor Holdings LLC, the largest Meineke franchisee nationwide under Driven Brands, Inc, with a proven track record across 40+ locations, demonstrating scale, operational expertise, and long-term brand commitment.
- Growing Industry Tailwind | The global automotive aftermarket market is estimated at $464.83 billion in 2025 and is projected to reach $555.82 billion by 2030, growing at a CAGR of 3.64%. Market growth is driven by the rising average age of vehicles on the road, which increases demand for replacement parts and maintenance services.
- Strategic Real Estate Fundamentals & High Barrier to Entry | Situated on a prominent 1.18-acre lot featuring multiple service bays, the real estate holds strong intrinsic land value. Municipal zoning and high barriers to entry for automotive-use permits in established sectors like Westland further insulate this location from future localized competition, preserving the long-term residual value of the underlying real estate.
- Dense Detroit Metro Demographics & Commuter-Driven Demand | Located just 18 miles west of Downtown Detroit, Westland serves as a core, highly populated submarket within the Detroit metropolitan area. Because over 77% of local residents drive alone to work with an average commute time of over 25 minutes, vehicle dependency in this area is exceptionally high. The asset perfectly captures this commuter-driven demand, tapping into a dense immediate population of over 106,000 residents within a 3-mile radius and an affluent average household income exceeding $81,000.
- High-Traffic, High Visibility Retail Corridor | The property commands exceptional visibility along North Wayne Road, a primary retail artery experiencing a dominant traffic count of over 32,000 vehicles per day (VPD). This high-density transit volume ensures a steady, built-in stream of consumer impressions and consistent customer drop-ins for essential automotive care.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$164,868.00
$13,739.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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