Monro Auto Service | 4yrs Remain Corp NNN
11,360 SF | Retail Building | Bloomington, IL 61704 | $1,350,000 ($119/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,350,000
- Property Type
-
Retail
- Square Feet
- 11,360 SF
- Price / Square Foot
- $119
Listing Contacts
Chad Lieber
Verified Profile
- Property Info
Property Overview
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 Details
- Class
- C
- Year Built
- 1994
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding
- Lot Size (sq. ft)
- 31,363 SF
Highlights
- Approximately 4 Years Remaining | Options To Extend | Established Tenant | 2022 Sales - $1.4 Billion
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong National/Credit Tenants | Dense Retail Trade Area
- Western University (9,441 Students) | Multiple Medical Centers |Illinois State University (21,039 Students) | Regional Airport
- Signalized, Hard Corner Intersection | Highly Traveled Corridor |State Highway 9 (23,900 VPD) | State Highway 55 (43,400 VPD)
- Strong Demographics in 5-Mile Trade Area
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