1845 N Wayne Rd - Auto Repair FOR SALE
Westland, MI 48185 |
$2,406,000 USD
248-579-5045
1845 N Wayne Rd
Westland, MI 48185
HIGHLIGHTS
- Long-term lease structure provides durable, predictable cash flow with zero landlord responsibilities
- Tenant is responsible for roof, parking lot, HVAC, CAM, taxes, and insurance, eliminating capital expenditure and operating risk
- Lease is guaranteed by Marcor – a 39-unit Meineke operator (Marcor is the Second Largest Meineke Operator)
- 10% rental increases every 5 years, delivering consistent NOI growth and inflation protection throughout the primary term
- Lease runs through November 2045, offering nearly two decades of secure income with renewal options thereafter
- Meineke provides non-discretionary automotive services, supporting stable performance across economic cycles
FOR SALE DETAILS
PRICE
$2,406,000 USD
PRICE/SF
$203 USD /SF
CAP RATE
6.85%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Meineke Car Care
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
ADD'L SUBTYPES
Service Station, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1960
SPRINKLERS
-
PARKING SPACES
25
LAND DETAILS
LAND ACRES
1.18 AC
LAND SF
51,183 SF
ZONING
CB-4, Vehicle Service
APN/PARCEL ID
56-045-99-0002-703
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248-579-5045
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248-579-5045
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