Monro Auto Service
Retail | 7.42% CAP | 10,676 SqFt
Marketing description
SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a corporate leased Monro Auto Service investment property located in Bloomington, Illinois. The tenant, Monro, Inc. (NASDAQ: MNRO), recently exercised its first five-year renewal option, extending its commitment to the site through February 2032 with two (5-year) renewal options remaining. The lease features 10% rental increases at the beginning of each renewal option, providing continued NOI growth and a hedge against inflation. The lease is triple net (NNN), with limited landlord responsibilities for the roof, structure, foundation, exterior building, and parking lot, making it an attractive investment opportunity for passive investors.
Investment highlights
- Recently Exercised 5-Year Renewal | Options To Extend | Scheduled Rental Increases
- The tenant recently exercised its first five-year renewal option, extending its commitment through February 2032
- Approximately 5.5 years remaining with two (5-year) renewal options remaining
- 10% rental increases at the beginning of each renewal option provide continued NOI growth and an inflation hedge
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