Strickland Brothers

100 West North Avenue, Melrose Park, IL 60164

$2,738,000

Cap Rate 6.75%

Views: 129 DOM: 329 Updated: 09.05.24 Posted: 01.09.24 Status: Active

Summary

Price $2,738,000	Built/Renov 2023	Tenant Strickland Brothers
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,700	Lease Start 12-01-2023	#Units 173
Price/SF $1,610.59	Expiration 11-30-2038	Tenant Type Automotive
NOI $184,800	R. Term 14.0	Ownership Fee Simple
Rent/SF $108.71	Increases 10.0%/4/yrs	Pop 5Mi 637,298
Lot/AC 1.15	Options 4/5yrs/10%	AHHI 5Mi $97,038

Lease Highlights

Brand-new 2023 state-of-the-art construction
Strickland Brothers recently executed a new 15-year lease with 4 (5-year) options to extend
The lease features 10% rent increases every 5 years throughout the initial term and options
Absolute NNN | Zero landlord responsibilities
Corporate guarantee

Location Description

Strickland Brothers is strategically located on 1st Ave, with access to 27,700 vehicles passing by daily. The location is conveniently positioned near the signalized, hard corner intersection with W. North Ave (85,100 VPD), and it is within walking distance of Triton College. Adjacent to the site is Winston Plaza, a shopping center that attracts over 3.2 million annual visitors. Adjacent to...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Dense 200M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

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Links

Strickland Brothers Wikipedia Melrose Park, Illinois Zip Code 60164 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:173
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change and offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,463	130,332	310,824
2023 Total Population :	9,696	132,783	315,737
2023 Employed Civilian Pop :	4,503	67,490	160,817
2023 Total Businesses :	333	4,887	13,072
2023 Average Household Income :	$ 86,786	$ 114,872	$ 109,607
2023 Total Consumer Spending :	$ 231 M	$ 4396 M	$ 10571 M
2023 Median Age :	39	37	39
2023 Total Households :	3,095	44,983	113,346
2023 Pop Age 25+: Bachelor's Degree :	999	17,010	44,099
2023 Average Home Value :	$ 248,389	$ 365,729	$ 340,390

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
IL 64		2021	44,100	0.16 mi
W North Ave	N Lavergne Ave	2013	41,200	0.17 mi
N Railroad Ave	Lind Ave	2018	4,100	0.25 mi
South Railroad Avenue	W Lake St	2022	7,150	0.25 mi
South Wolf Road	Alley	2022	11,800	0.28 mi
N Wolf Rd	West Dr	2014	10,750	0.29 mi
North Wolf Road	Winters Dr	2022	11,800	0.30 mi
North Railroad Avenue	Lind Ave	2022	2,500	0.33 mi
East Park View Drive	E Wiltse Pkwy	2018	425	0.34 mi
Automatic Electric Drive	N Lavergne Ave	2018	650	0.35 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
28472 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
29531 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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