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Grease Monkey | Top 5 in System | 6.60% Proforma CAP

$2,092,933

315 Broad Street, Manchester, CT 06040

Active
Last Updated: 05/03/2023

6

Cap Rate

2,092,933

NOI

Details:
Cap Rate:    6%
NOI:    $2,092,933
Building Size:    2,640 sqft
Lot Area:    0.49 sqft
Occupancy:    100%
Year Built:    1980
Tenancy:    Single
Highlights:
  • Grease Monkey Manchester is among the top 5 performing locations in Grease Monkey’s 500+ location portfolio
  • Grease Monkey dba “Economy Oil Change” has been in business in the Manchester Community ever since 1980 operating as Economy Oil Change
  • Local Population is almost 130,000 Residents in a 5 Mile Radius
  • The Lease features an Attractive Rental Structure of 10% Increases every 5 years, providing a hedge against inflation
  • Broad Street can expect an average traffic count of over 15,000 cars per day
  • The Auto Repair Industry is worth an estimated $372 Billion with $38 Billion estimated to come from the oil change industry alone
Description:

Grease Monkey Manchester is among the top 5 performing locations in Grease Monkey’s 500+ location portfolio

Grease Monkey dba “Economy Oil Change” has been in business in the Manchester Community ever since 1980 operating as Economy Oil Change

Local Population is almost 130,000 Residents in a 5 Mile Radius

The Lease features an Attractive Rental Structure of 10% Increases every 5 years, providing a hedge against inflation

Lower risk Investment: With a triple net lease, the tenant assumes much of the risk associated with property ownership, such as fluctuations in property taxes and unexpected repairs or maintenance costs

Predictable income: With a triple net lease, the tenant is responsible for paying all of the property's operating expenses, so the landlord can expect a consistent rental income each month.

Broad Street can expect an average traffic count of over 15,000 cars per day

In addition to oil change services, Grease Monkey offers alignments, battery, check engine light, diagnostic services, radiator services, state inspection tire services, windshield repair and much more.

The Auto Repair Industry is worth an estimated $372 Billion with $38 Billion estimated to come from the oil change industry alone

Subject Property is Adjacent a Large Shopping Center and many national retailers such as; Planet Fitness, Dollar Tree, Sally Beauty, Stop and Shop, CVS, Wendy’s, Family Dollar, Save a lot, Auto Zone, McDonalds, Bank of America, DTLR, Rainbow and more

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