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Monro Auto Service | Recent 5yr Renewal 1809 Eastland Dr 10,676 SF Retail Building Bloomington, IL 61704 $1,400,000 ($131.14/SF) 7.42% Cap Rate
Investment Highlights
- Recently Exercised 5-Year Renewal | Options To Extend |Scheduled Rental Increases
- Strong National/Credit Tenants | Dense Retail Trade Area
- Near Signalized IntersectionOM | Interstate 55 Access | Strong Visibility
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Multiple Medical Centers | Illinois State University (21,994 Students) | Regional Airport
- Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a corporate leased Monro Auto Service investment property located in Bloomington, Illinois. The tenant, Monro, Inc. (NASDAQ: MNRO), recently exercised its first five-year renewal option, extending its commitment to the site through February 2032 with two (5-year) renewal options remaining. The lease features 10% rental increases at the beginning of each renewal option, providing continued NOI growth and a hedge against inflation. The lease is triple net (NNN), with limited landlord responsibilities for the roof, structure, foundation, exterior building, and parking lot, making it an attractive investment opportunity for passive investors.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,676 SF
Building Class
C
Year Built
1994
Price
$1,400,000
Price Per SF
$131.14
Cap Rate
7.42%
NOI
$103,950
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.72 AC
Zoning
B-2 - General Business District
Parking
39 Spaces (3.65 Spaces per 1,000 SF Leased)
Frontage
125’ on Eastland Dr
Amenities
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Monro Auto Service
- Professional, Scientific, and Technical Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Monro Auto Service | Professional, Scientific, and Technical Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-02-277-002 | Improvements Assessment | $240,754 |
| Land Assessment | $111,842 | Total Assessment | $352,596 |
Property Taxes
Parcel Number
21-02-277-002
Land Assessment
$111,842
Improvements Assessment
$240,754
Total Assessment
$352,596
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Monro Auto Service | Recent 5yr Renewal | 1809 Eastland Dr
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