Monro Auto Service | 4yrs Remain Corp NNN | 1809 Eastland Dr
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Monro Auto Service | 4yrs Remain Corp NNN 1809 Eastland Dr
11,360 SF Retail Building Bloomington, IL 61704 $1,350,000 ($119/SF) 7% Cap Rate
Investment Highlights
- Approximately 4 Years Remaining | Options To Extend | Established Tenant | 2022 Sales - $1.4 Billion
- Strong National/Credit Tenants | Dense Retail Trade Area
- Signalized, Hard Corner Intersection | Highly Traveled Corridor |State Highway 9 (23,900 VPD) | State Highway 55 (43,400 VPD)
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Western University (9,441 Students) | Multiple Medical Centers |Illinois State University (21,039 Students) | Regional Airport
- Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding, Monro Auto Service investment property located in Bloomington, Illinois. The tenant, Monro Muffler Brake, Inc. has approximately 4 years remaining in their current term with 3 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Monro Auto is one of the nations leading automotive service providers with over 1,300 stores and 9,000 services bays nationwide. With a rapidly growing market share and a focus on sustainable growth, Monro generated approximately $1.4 billion in sales in fiscal 2022 and continues to expand its national presence through strategic acquisitions and the opening of newly constructed stores.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,360 SF
Building Class
C
Year Built
1994
Price
$1,350,000
Price Per SF
$119
Cap Rate
7%
NOI
$94,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.36
Lot Size
0.72 AC
Zoning
B-2 - General Business District
Parking
3.65 Spaces per 1,000 SF Leased
Amenities
- Corner Lot
- Freeway Visibility
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 21-02-277-002 | Improvements Assessment | $190,164 |
| Land Assessment | $88,340 | Total Assessment | $278,504 |
PROPERTY TAXES
Parcel Number
21-02-277-002
Land Assessment
$88,340
Improvements Assessment
$190,164
Total Assessment
$278,504
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Monro Auto Service | 4yrs Remain Corp NNN | 1809 Eastland Dr
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