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Meineke Car Care 1845 N Wayne Rd 11,830 SF Retail Building Westland, MI 48185 $2,406,000 ($203.38/SF) 6.85% Cap Rate
Investment Highlights
- Long-term lease structure provides durable, predictable cash flow with zero landlord responsibilities
- Lease is guaranteed by Marcor – a 39-unit Meineke operator (Marcor is the Second Largest Meineke Operator)
- Lease runs through November 2045, offering nearly two decades of secure income with renewal options thereafter
- Tenant is responsible for roof, parking lot, HVAC, CAM, taxes, and insurance, eliminating capital expenditure and operating risk
- 10% rental increases every 5 years, delivering consistent NOI growth and inflation protection throughout the primary term
- Meineke provides non-discretionary automotive services, supporting stable performance across economic cycles
Executive Summary
ABSOLUTE NET - Zero Landlord Responsibility | 20 Year Term
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,830 SF
Building Class
C
Year Built/Renovated
1960/2006
Price
$2,406,000
Price Per SF
$203.38
Cap Rate
6.85%
NOI
$164,868
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.18 AC
Zoning
CB-4, Vehicle Service
Parking
25 Spaces (2.54 Spaces per 1,000 SF Leased)
Frontage
182’ on Wayne Rd
Amenities
- Signage
Walk Score®
Very Walkable (73)
Nearby Major Retailers
Property Taxes
| Parcel Number | 56-045-99-0002-703 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $482,400 |
Property Taxes
Parcel Number
56-045-99-0002-703
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$482,400
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Meineke Car Care | 1845 N Wayne Rd
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