Crestwood, IL - Meineke

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, Meineke Car Care investment property located in Crestwood, IL (Chicago MSA). The tenant recently signed a brand new 15-year lease with 5 (5-year) option periods, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1972, Meineke is among the leading automotive service centers in the world with over 800 locations.

Meineke is strategically located along S. Cicero Avenue with clear visibility and access to 44,200 vehicles passing by daily. The asset benefits from direct on/off ramp access to Interstate 294 (104,700 VPD), making this an ideal, centralized location with easy commutes for both employees and customers. The asset is ideally situated within a dense retail corridor, and is within close proximity to Rivercrest Shopping Center, an 840,118 SF Power Center anchored by Target. Other surrounding national/credit tenants include Kohl’s, Walmart Supercenter, AMC Theaters, Ross Dress for Less, Menards, ALDI, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the site is within proximity to several single-family communities and multi-family complexes including Richard Flowers Homes (100 units), Manchester Court (165 units), Astoria Commons (168 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 266,600 residents and 89,100 daytime employees, with a healthy annual average household income of $85,803.