This single-tenant net lease tire shop portfolio offers a rare investment opportunity in the thriving Riverside-San Bernardino-Ontario MSA, one of Southern California’s most dynamic markets. The portfolio benefits from a high barrier to entry for auto repair businesses, with each location grandfathered in for continued operation. These sites have demonstrated historical occupancy and market dominance, operating successfully for over 40 years, which underscores their long-term stability and customer loyalty.
The properties are leased to Monro, Inc. (NASDAQ: MNRO), a publicly traded and nationally recognized automotive service provider that acquired the former operator, Allen Tire Company, in December 2020. This strong credit tenancy provides investors with confidence in income durability. Current rental rates are significantly below market, with in-place rents at $14.89 per square foot compared to the market average of $19 per square foot per CoStar, creating a clear path for future rent growth and value appreciation.
Priced under $250 per square foot, this portfolio offers an attractive basis in a high-demand region. The locations feature excellent visibility, including 100 feet of frontage on Hole Avenue with traffic counts exceeding 12,500 vehicles per day and quick access to La Sierra Avenue, which sees over 20,000 vehicles daily. The surrounding trade area is anchored by national retailers such as Target, Walmart, and Best Buy, ensuring strong consumer traffic. Additionally, the area boasts steady population growth, with over 262,000 residents within a five-mile radius, further supporting long-term demand for automotive services. This portfolio combines strong real estate fundamentals, a creditworthy tenant, and compelling upside potential, making it an ideal acquisition for investors seeking stable income and future growth in a supply-constrained market.