2351 S Sprinkle Rd - Auto Repair FOR SALE
Kalamazoo, MI 49001 |
$1,389,000 USD
650-678-7200
2351 S Sprinkle Rd
Kalamazoo, MI 49001
HIGHLIGHTS
- Over 19 years remaining on an absolute net lease featuring a personal guaranty from the operator
- 10% rental increases every 5 years providing a hedge against inflation
- Internet & recession resistant industry – consumers defer new vehicle purchases during economic downturns and instead spend on maintenance/repairs
- Award-winning franchisee with significant 8-figure net worth
- Largest Meineke operator in the country – 58 units currently with plans in place to expand to 100+
- Dense residential trade area – 107,000 residents within a 5-mile radius of the subject property
OVERVIEW
This Meineke, located in Kalamazoo, MI, has over 19 years remaining in the base term and 10% rental increases every 5 years and an absolute net structure requiring zero landlord expense or maintenance obligations. The tenant is the largest Meineke operator in the country with 58 locations currently in their system and plans in place to expand to 100+ units.
FOR SALE DETAILS
PRICE
$1,389,000 USD
PRICE/SF
$289 USD /SF
CAP RATE
6.75%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Meineke
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1986
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.89 AC
LAND SF
38,768 SF
ZONING
-
APN/PARCEL ID
07-30-156-045
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650-678-7200
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650-678-7200
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