Mr. Tire

21730 Great Mills Road, Lexington Park, MD 20653

$1,625,000

Cap Rate 6.60%

Views: 85 Updated: 02.25.24 Posted: 11.16.23 Status: Inactive

Summary

Price $1,625,000	Built/Renov 2004	Tenant Mr. Tire
Cap Rate 6.60%	Lease Type NN+	Guarantor Corporate
Size/SF 2,440	Lease Start 03-06-2005	#Units 318
Price/SF $665.98	Expiration 02-28-2033	Tenant Type Automotive
NOI $107,205	R. Term 8.3	Ownership Fee Simple
Rent/SF $43.94	Increases 8.0%/4/yrs	Pop 5Mi 44,761
Lot/AC 0.34	Options 2/10yrs	AHHI 5Mi $128,782

Lease Highlights

Mr Tire has 9+ years remaining on the current lease term with 2 (10-year) options to extend
Lease features an 8% rental increase in 2028 & annual CPI increases at the start of each option
Favorable NN+ lease with landlord responsible for roof decking and structure
Corporate guaranteed lease (NASDAQ: MNRO)

Location Description

This corner parcel offers excellent visibility, with prominent signage along S Shangri-La Drive and Great Mills Road (MD Route 246), which sees more than 16,200 vehicles per day. Additionally, it is near the intersection at Three Notch Road (MD Route 235), which sees over 38,000 vehicles daily. The property is directly across the street from a Big Lots-Anchored retail center and is near many...

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Key Features

Hard corner intersection
Build to suit
In location for years
Dense retail corridor
Near major nationals
Strong demographics
Accelerated depreciation
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Mr. Tire Wikipedia Mr. Tire Wikipedia Lexington Park, Maryland Zip Code 20653 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Mr. Tire
Guarantor:Corporate
Company:Monroe, Inc.
# Units:318
Stock:NASDAQ: MNRO

About Tenant

Mr. Tire is an American auto service company with various automotive repair shops across 13 United States. Their tire centers provide scheduled maintenance, oil changes, brakes, muffler and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,564	29,869	44,898
2023 Total Population :	5,377	29,357	44,072
2023 Employed Civilian Pop :	2,431	14,428	21,450
2023 Total Businesses :	281	833	1,336
2023 Average Household Income :	$ 80,518	$ 112,723	$ 121,298
2023 Total Consumer Spending :	$ 152 M	$ 1127 M	$ 1820 M
2023 Median Age :	31	32	34
2023 Total Households :	2,141	11,628	17,499
2023 Pop Age 25+: Bachelor's Degree :	374	3,680	5,947
2023 Average Home Value :	$ 173,705	$ 301,593	$ 346,011

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Willows Rd	S Shangri la Dr	2020	8,052	0.06 mi
Willows Rd	Bradley Blvd W	2018	9,521	0.26 mi
Three Notch Rd	Shangri la Dr N	2003	13,825	0.27 mi
Great Mills Road		2017	19,202	0.33 mi
Willows Road		2017	9,610	0.38 mi
Three Notch Road	Corporate Dr	2018	33,532	0.46 mi
Three Notch Rd	Shangri la Dr N	2003	24,625	0.47 mi
Three Notch Road		2018	17,082	0.57 mi
Franklin Road	Saratoga Dr	2018	403	0.63 mi
Franklin Rd	Louden Ln	2020	345	0.69 mi

Listing Broker

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