Medina, OH - Meineke

Description:

SRS National Net Lease Group, LP is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Meineke Car Care Center investment property located in Medina, Ohio. The tenant, Meineke Car Care Center (Marcor LLC) recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Meineke Car Care Center is located along Ledgewood Drive within Medina’s primary retail corridor, just off U.S. Highway 42 with immediate access to Interstate 71, which carry approximately 12,900 vehicles per day and 65,100 vehicles per day. The property benefits from strong regional connectivity and is positioned between Akron and Cleveland, approximately 25 miles and 33 miles away. The asset is surrounded by a dense concentration of national and credit tenants including Walmart Supercenter, Kohl’s, Home Depot, Target, Aldi, Pet Supplies Plus, Starbucks, Chick-fil-A, Five Guys, Verizon, Marshalls, Meijer, and Dunkin’, among others, reinforcing the strength of the immediate trade area. Walmart Supercenter, located directly across the street, draws approximately 2.2 million annual visits per Placer.ai, further supporting the subject property’s position within a dominant, high-traffic retail corridor. Additional nearby apartment communities including SweetBriar Village, Jefferson Villa Apartments, Jefferson Pointe, Forest Meadows Apartments, Forest Meadow Villas, and Waterford Village Apartments total approximately 1,170 units and help drive consistent consumer traffic to the area. The surrounding five-mile trade area includes approximately 62,190 residents and 27,325 employees, with an average household income of $125,665, providing a strong consumer base for long-term tenant performance.

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Listing ID: a28TP000002Ya9ZYAS