Grease Monkey

2205 West Parkwood Avenue, Friendswood, TX 77546

$1,818,908

Cap Rate 6.50%

Views: 158 DOM: 273 Updated: 07.16.24 Posted: 02.22.24 Status: Contract

Summary

Price $1,818,908	Built/Renov 2019	Tenant Grease Monkey
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,230	Lease Start 09-24-2019	#Units 494
Price/SF $563.13	Expiration 09-30-2034	Tenant Type Automotive
NOI $118,229	R. Term 9.10	Ownership Fee Simple
Rent/SF $36.60	Increases 10.0%/5/yrs	Pop 5Mi 109,967
Lot/AC 0.68	Options 2/5yrs/10%	AHHI 5Mi $198,502

Edward Benton

Secure Net Lease

Contact

Lease Highlights

Grease Monkey has 10+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 10% rental escalations every 5 years throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Grease Monkey is strategically located at the hard corner intersection of Parkwood Ave/FM 528, a main arterial road, and Thomas Trace, with access to 33,551 vehicles passing by daily. This road serves as a crucial connector between I-35 and I-45, transitioning into NASA Parkway. The area boasts national tenants such as Shell, 7-Eleven, Chevron, State Farm, and H-E-B, among others. The 5-mile...

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Key Features

Hard corner intersection
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Income tax free state
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Grease Monkey Wikipedia Grease Monkey Wikipedia Friendswood, Texas Zip Code 77546 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Grease Monkey
Guarantor:Corporate
Company:FullSpeed Automotive
# Units:494
Stock:Private

About Tenant

Grease Monkey International Inc., dba Grease Monkey, is the nation’s largest independent franchisor of automotive oil change centers. The company offers full-service oil changes, preventive...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,221	36,663	121,803
2023 Total Population :	5,556	32,824	116,506
2023 Employed Civilian Pop :	2,947	16,545	59,274
2023 Total Businesses :	74	973	3,110
2023 Average Household Income :	$ 162,258	$ 172,438	$ 139,757
2023 Total Consumer Spending :	$ 249 M	$ 1592 M	$ 4733 M
2023 Median Age :	41	41	37
2023 Total Households :	1,854	11,030	39,953
2023 Pop Age 25+: Bachelor's Degree :	1,701	8,333	22,871
2023 Average Home Value :	$ 411,987	$ 431,053	$ 340,413

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
San Joaquin Pkwy	N Mission Cir	2011	2,990	0.11 mi
Cypress Point Dr	E Castle Harbour Dr	2011	1,980	0.13 mi
Windsong Ln	W Parkwood Ave	2011	410	0.22 mi
Sun Meadow Blvd	W Parkwood Ave	2011	2,000	0.42 mi
Country Club Dr	W Parkwood Ave	2001	290	0.62 mi
Saint Cloud Dr	Dorado Dr	2011	360	0.73 mi
Windsong Ln	Windcreek St	2001	20	0.81 mi
Lundy Ln	W Parkwood Ave	2011	560	1.10 mi
Oak Hollow Dr	Applewood Dr	2011	90	1.13 mi
Moore Rd	Crescent Dr	2011	2,620	1.18 mi

Listing Broker

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