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Views: 168 DOM: 430 Updated: 11.05.24 Posted: 09.11.23 Status: Active

Summary

Price $1,676,000
Built/Renov 1961/2022
Tenant Meineke
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,200
Lease Start 12-01-2023
#Units 6
Price/SF $761.82
Expiration 11-30-2038
Tenant Type Automotive
NOI $121,500
R. Term 14.0
Ownership Fee Simple
Rent/SF $55.23
Increases 10.0%/5/yrs
Pop 5Mi 479,995
Lot/AC 0.39
Options 5/5yrs/10%
AHHI 5Mi $92,890

Lease Highlights

  • New 2022 renovation
  • Brand-new 15-year lease with 5 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease is franchisee guaranteed

Location Description

This Meineke is strategically positioned along S. Cicero Avenue with clear visibility and access to an average of 47,900 vehicles passing by daily. It is ideally situated within walking distance to Shops at 95th & Cicero (77K+ SF), Green Oak Shopping Center (91K+ SF), Village of Oak Lawn (296K+ SF), and other centers, creating a strong consumer draw to the area. Surrounding national tenants...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Meineke Car Care Centers, Inc., more commonly known as just Meineke, is a franchise-based international automotive repair chain. Previously known as Meineke Discount Mufflers, the company changed...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 20,809 179,327 463,793
2023 Total Population : 21,326 184,169 475,920
2023 Employed Civilian Pop : 11,014 89,314 219,561
2023 Total Businesses : 802 4,369 11,613
2023 Average Household Income : $ 100,326 $ 99,300 $ 90,654
2023 Total Consumer Spending : $ 740 M $ 5653 M $ 13452 M
2023 Median Age : 45 40 39
2023 Total Households : 8,631 66,794 172,972
2023 Pop Age 25+: Bachelor's Degree : 3,820 24,302 54,699
2023 Average Home Value : $ 234,821 $ 263,081 $ 260,097
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cicero Ave 96th St 2013 43,700 0.13 mi
IL 50 2021 38,100 0.19 mi
W 95th St Cicero Ave 2009 36,500 0.23 mi
W 95th St 49th Ave 2013 37,800 0.24 mi
W 95th St Hilton Dr 2013 40,800 0.25 mi
Cicero Ave 94th St 2013 43,100 0.31 mi
IL 50 101st St 2021 39,625 0.33 mi
US 12;US 20 2021 36,200 0.36 mi
South 52nd Avenue W 97th St 2018 4,800 0.48 mi
S Kilbourn Ave 99th St 2014 6,900 0.49 mi

Listing Broker

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