1809 Eastland Dr - Auto Repair FOR SALE


Bloomington, IL 61704
$1,400,000 USD
619-489-9004
1809 Eastland Dr, Bloomington, IL for Sale
$1,400,000 USD
Auto Repair - FOR SALE
1/10
null | 7.42% Cap Rate

1809 Eastland Dr
Bloomington, IL 61704


HIGHLIGHTS

  • Recently Exercised 5-Year Renewal | Options To Extend |Scheduled Rental Increases
  • NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
  • Strong National/Credit Tenants | Dense Retail Trade Area
  • Multiple Medical Centers | Illinois State University (21,994 Students) | Regional Airport
  • Near Signalized IntersectionOM | Interstate 55 Access | Strong Visibility
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$131 USD /SF

CAP RATE

7.42%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Monro Auto Service | Recent 5yr Renewal

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

B-2

APN/PARCEL ID

21-02-277-002

ASK ABOUT THIS PROPERTY

Chad LieberSRS Real Estate PartnersMore Info
619-489-9004

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Chad LieberSRS Real Estate PartnersMore Info
619-489-9004

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