Listed by Century Partners RE
$960,000
Meineke | 15 Year | Low Price Point
Details
APN 49-09-06-113-135.000-700
Property Type Retail
Sub Type Auto Shop
Square Footage 2,730
Cap Rate 6.25%
NOI $60,000
Tenancy Single
Brand/Tenant Jiffy Lube, Valvoline
Lease Type Absolute NNN
Lease Term 15
Rent Bumps Yes
Lease Options (4), 5-year
Year Built 1978
Acreage 0.460
Investment Type Net Lease
Tenant Credit Franchisee
Ground Lease No
Low Basis, with Strong Guaranty
Marketing description
Established Meineke auto service site on a primary Indianapolis east-west arterial. Brand New 15 Year Absolute NNN Lease with zero landlord responsibilities. Guaranteed by Solvix Auto LLC - the largest Meineke franchisee in the United States. Direct frontage and visibility to approximately 34,000 vehicles daily on E Washington Street (US Route 40).
US-40 / E Washington Street connects downtown Indianapolis to the eastern suburbs, supporting consistent daily traffic volumes. Positioned near the I-465 interchange at E Washington Street, providing direct regional connectivity across the Indianapolis metro. Dense Indianapolis trade area with 59,790 residents within 3 miles and nearly 192,000 within 5 miles.
Investment highlights
- Brand New 15 Year Absolute NNN Lease with zero landlord responsibilities
- Direct frontage and visibility to approximately 34,000 vehicles daily on E Washington Street (US Route 40)
- Established Meineke Car Care Center positioned for long-term occupancy
- Guaranteed by Solvix Auto LLC - the largest Meineke franchisee in the United States
- US-40 / E Washington Street connects downtown Indianapolis to the eastern suburbs, supporting consistent daily traffic volumes
- Positioned near the I-465 interchange at E Washington Street, providing direct regional connectivity across the Indianapolis metro
- Dense Indianapolis trade area with 59,790 residents within 3 miles and nearly 192,000 within 5 miles
- Established Meineke auto service site on a primary Indianapolis east-west arterial.
- Experienced Operator and Guarantor: Solvix Auto LLC operates 56 Meineke locations nationwide, the largest Meineke franchisee in the United States, with plans to expand to 100+ units
- Meineke: Established national auto care brand with 900+ locations, a subsidiary of Driven Brands, Inc.
Listing Contacts
Listed by Century Partners RE
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$60,000.00
$5,000.00/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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