1079 W Maple Ave - Freestanding FOR SALE


Mundelein, IL 60060
$1,645,000 USD
949-724-5552
1079 W Maple Ave, Mundelein, IL for Sale
$1,645,000 USD
Freestanding - FOR SALE
1/7
null | 6.75% Cap Rate

1079 W Maple Ave
Mundelein, IL 60060


HIGHLIGHTS

  • Corporate Tenant – Grease Monkey International, LLC - Over 500 Locations Internationally – Ranked on Franchise 500 (Last 8 Years)
  • 10.8 Lease Years Remaining in Primary Term – Three 5 Year Option Periods
  • Inflation Resistant Cash Flows – 10% Rent Increases Every 5 Years
  • Strategically Positioned on Hard Corner Signalized Intersection - W Maple Avenue (Route 176) & N Midlothian Road – Over 24,900 VPD
  • Opposite Long Meadow Commons – Jewel-Osco Anchored & 1.5 Miles from Mundelein Crossing Power Center – Anchored by Target & The Home Depot

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire the single tenant net leased Grease Monkey in Mundelein, IL. Grease Monkey Oil Change & More operates over 500 locations and has received awards and recognition from Entrepreneur, Franchise Times and Inc. 5,000. The corporate net lease has 10.8 lease years remaining in the primary term with three 5-year option periods, limited landlord responsibilities (roof & structure) and 10% rent increases every 5 years creating long term inflation resistant income. The 1,794 SF automotive repair building on 0.64-acre parcel is strategically located on the hard corner signalized intersection of W Maple Avenue (Route 176) & N Midlothian Road which has a combined traffic count exceeding 24,900 VPD. The subject property is opposite the Jewel-Osco anchored Long Meadow Commons Shopping Center and is 1.5 miles from Mundelein Crossing Power Center which is anchored by Target and The Home Depot. Other nearby retailers include Dollar Tree, HomeGoods, T.J. Maxx, Walgreens, CVS Pharmacy, Starbucks and Taco Bell. This is an excellent opportunity to purchase a net-leased automotive repair shop in the Chicago MSA (population exceeding 9.2 million) with a long-term lease, strong rent increases and limited landlord duties, providing consistent cash flows for years to come.

FOR SALE DETAILS

PRICE

$1,645,000 USD

PRICE/SF

$917 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grease Monkey

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

C-2

APN/PARCEL ID

10-24-306-001

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.