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Monro Tire, Inc. (NASDAQ: MNRO) - Hemet, CA | 1772 W Florida Ave 7,920 SF Retail Building Hemet, CA 92545 $1,496,700 ($188.98/SF) 6% Cap Rate
Investment Highlights
- Single-Tenant Net Lease Tire Shop Portfolio (Located in the Riverside-San Bernardino-Ontario MSA)
- Below Market Rental Rates ($20/sf Market Rental Rate per CoStar, Rent is Currently at $11.34/sf)
- Monro Acquired the Former Operator in Dec. 2020 (Publicly Traded Tenant | NASDAQ: MNRO, Formerly Allen Tire Company)
- High Barrier of Entry for Auto Repair Businesses (Grandfathered in Locations)
- Low Price per Foot Basis (Priced Under $200/Ft)
- Historical Occupancy | Market Dominance (Locations have been in business for 40+ Years)
Executive Summary
• Single-Tenant Net Lease Tire Shop Portfolio
- Located in the Riverside-San Bernardino-Ontario MSA
• High Barrier of Entry for Auto Repair Businesses
- Grandfathered in Locations
• Below Market Rental Rates
- $20/sf Market Rental Rate per CoStar
- Rent is Currently at $11.34/sf
• Low Price per Foot Basis
- Priced Under $200/Ft
• Monro Acquired the Former Operator in Dec. 2020
- Publicly Traded Tenant | NASDAQ: MNRO
- Formerly Allen Tire Company
• Historical Occupancy | Market Dominance
- Locations have been in business for 40+ Years
• Surrounded by National Tenants
- Target, Walmart, Best Buy, & More
• Steady Population Growth
- 176,000 People Within a Five-Mile Radius
• 100 Feet of Frontage on W Florida Ave.
- 30,000+ Vehicles per day
- Located in the Riverside-San Bernardino-Ontario MSA
• High Barrier of Entry for Auto Repair Businesses
- Grandfathered in Locations
• Below Market Rental Rates
- $20/sf Market Rental Rate per CoStar
- Rent is Currently at $11.34/sf
• Low Price per Foot Basis
- Priced Under $200/Ft
• Monro Acquired the Former Operator in Dec. 2020
- Publicly Traded Tenant | NASDAQ: MNRO
- Formerly Allen Tire Company
• Historical Occupancy | Market Dominance
- Locations have been in business for 40+ Years
• Surrounded by National Tenants
- Target, Walmart, Best Buy, & More
• Steady Population Growth
- 176,000 People Within a Five-Mile Radius
• 100 Feet of Frontage on W Florida Ave.
- 30,000+ Vehicles per day
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
7,920 SF
Building Class
C
Year Built
1972
Price
$1,496,700
Price Per SF
$188.98
Cap Rate
6%
NOI
$89,802
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
C2, Hemet - Commercial
Parking
23 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 448-440-012 | Improvements Assessment | $693,591 |
| Land Assessment | $456,252 | Total Assessment | $1,149,843 |
Property Taxes
Parcel Number
448-440-012
Land Assessment
$456,252
Improvements Assessment
$693,591
Total Assessment
$1,149,843
Contacts
-
Giovanni Figueiredo -
Spencer Koch -
Christopher Biuso -
Scott Gould -
Rory Shelby -
Caitlin Lancaster -
Marcus & Millichap
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Photos
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Street
Map
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Monro Tire, Inc. (NASDAQ: MNRO) - Hemet, CA | | 1772 W Florida Ave
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