3806 Broadway St - Auto Repair FOR SALE


Mount Vernon, IL 62864
$2,000,000 USD
949-506-2012
3806 Broadway St, Mount Vernon, IL for Sale
$2,000,000 USD
Auto Repair - FOR SALE
1/10
null | 6.25% Cap Rate

3806 Broadway St
Mount Vernon, IL 62864


HIGHLIGHTS

  • New 15-Year Sale Leaseback | Strong Operator (16+ Units) | Rapidly Growing Brand | E-Commerce & Recession Proof Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Excellent Visibility & Access Along Broadway Street (22,530 VPD) | Across From Times Square Mall (2.3M+ Annual Visits)
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN Take 5 Oil Change investment property located in Mount Vernon, Illinois. The tenant, TVOC Illinois LLC, recently signed a new 15-year sale leaseback with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. TVOC Illinois LLC represents a strong, rapidly-growing operator which currently operates 16 locations, with 5 additional sites in development, and a 44-unit development agreement with Take 5 Oil Change. The brand is the fastest growing oil change concept in the U.S. with more than 1,000 locations in 41 states with an additional 950 sites in the pipeline.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$1,229 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Take 5 Oil | 15-Yr | 16+ Unit Guarantor

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

-

APN/PARCEL ID

06-25-355-007

ASK ABOUT THIS PROPERTY

Gary ChouSRS National Net LeaseMore Info
949-506-2012

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Gary ChouSRS National Net LeaseMore Info
949-506-2012

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