Grease Monkey – Carol Stream, IL
Fortis Net Lease is pleased to present this 3,600 SF. Grease Monkey auto care store located in Carol Stream, Illinois part of the Chicago MSA. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 10% rental rate increases every 5 years during the primary term and the two (5) Yr. options to renew. The store has been open and operating successfully since August 2015.
This Grease Monkey store is highly visible as it is strategically positioned on E. Geneva Road which sees which sees 25,300 cars per day. Adjacent to the site is a CitiBank, Blue Books Services credit counseling, and a Planet Fitness anchored shopping center. The five mile population from the site is 259,392 while the one mile average household income is $100,327 per year, making this location ideal for a Grease Monkey. Consumer spending within a five mile radius is $2.861 Billion. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Grease Monkey. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a 6.15% cap rate based on NOI of $66,495.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Chicago MSA
• 10% Rental Rate Increases Every 5 Years
• Adjacent to Planet Fitness Anchored Shopping Center
• Two (5 Year) Options | 10% Rental Increase At Each Option
• One Mile Household Income $100,327
• Five Mile Population 259,392
• One Mile Median Home Value $381,937
• 25,300 Cars Per Day on E. Geneva Road
• Surrounded by Both National Retailers & Residential
Instate Broker of Record: Eli Schultz | Fortis Net Lease