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Grease Monkey 2236 Mercantile Dr 5,817 SF Retail Building Eau Claire, WI 54703 $914,646 ($157.24/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Investors can use 100% bonus depreciation on property improvements in year one, creating a major upfront tax shield and boosting after-tax cash flow
- Over 10 years left on a 15-year NNN lease, offering stability and minimal Landlord expense responsibilities
- The property is highly visible from US Highway 12, which is the major east-west thoroughfare serving Eau Claire
- Immediate cost recovery improves overall investment returns and reduces tax liability (consult accounting professional for detailed analysis)
- The lease guarantees rent growth with 10% rent bumps every five years, increases which continue through the three option periods
- Actively executing a strategic growth plan to double its location count within just three years, demonstrating exceptional corporate momentum
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Grease Monkey located at 2236 Mercantile Drive, Eau Claire, Wisconsin. The single tenant net lease asset is 100% occupied by Grease Monkey, who maintains over 10 years of remaining lease term plus three renewal options, each with a 10% rent increase. The 5,817 SF building was constructed in 1987 and sits on 0.72 acres of land.
Grease Monkey, a FullSpeed Automotive brand, is currently implementing an aggressive expansion strategy aimed at doubling its footprint within the next three years. With more than 500 locations across North America and operations in six countries internationally, the company has demonstrated resilience through over five decades of business cycles and market changes. Grease Monkey remains focused on expanding its geographical presence and growing its customer base.
The property enjoys a prime location within an established retail corridor featuring popular destinations including Festival Foods, Menards, Dunkin Donuts, and Kwik Trip. This strategic positioning capitalizes on impressive daily traffic counts of 22,470 vehicles along US Highway 12 through Eau Claire. The three-mile radius demographic profile is compelling, with population growth projecting at more than twice the national average and household incomes averaging over $85,000, indicating both strong customer density and substantial spending power. Additionally, the site's convenient location just 10 minutes from downtown Eau Claire further enhances its appeal.
With the return of 100% bonus depreciation, this asset offers an even more compelling investment opportunity. Investors can fully depreciate the building improvements in year one, creating a substantial upfront tax shield. This accelerates cost recovery, boosts after-tax cash flow, and enhances overall returns, adding meaningful value beyond the property's strong real estate fundamentals.
Please refer to the OM for more information on this investment opportunity.
Grease Monkey, a FullSpeed Automotive brand, is currently implementing an aggressive expansion strategy aimed at doubling its footprint within the next three years. With more than 500 locations across North America and operations in six countries internationally, the company has demonstrated resilience through over five decades of business cycles and market changes. Grease Monkey remains focused on expanding its geographical presence and growing its customer base.
The property enjoys a prime location within an established retail corridor featuring popular destinations including Festival Foods, Menards, Dunkin Donuts, and Kwik Trip. This strategic positioning capitalizes on impressive daily traffic counts of 22,470 vehicles along US Highway 12 through Eau Claire. The three-mile radius demographic profile is compelling, with population growth projecting at more than twice the national average and household incomes averaging over $85,000, indicating both strong customer density and substantial spending power. Additionally, the site's convenient location just 10 minutes from downtown Eau Claire further enhances its appeal.
With the return of 100% bonus depreciation, this asset offers an even more compelling investment opportunity. Investors can fully depreciate the building improvements in year one, creating a substantial upfront tax shield. This accelerates cost recovery, boosts after-tax cash flow, and enhances overall returns, adding meaningful value beyond the property's strong real estate fundamentals.
Please refer to the OM for more information on this investment opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,817 SF
Building Class
B
Year Built
1987
Price
$914,646
Price Per SF
$157.24
Cap Rate
6.35%
NOI
$58,080
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.72 AC
Zoning
C3P
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Services
- -
- -
-
Jan 0000
Founded in 1978 and headquartered in Denver, Colorado, the Grease Monkey® brand currently operates centers internationally with operations in Mexico, China, Colombia and Saudi Arabia. Grease Monkey® is the nation’s largest independent franchisor of automotive oil change centers. Grease Monkey® International, LLC is the nation’s largest independent franchisor of automotive oil change centers serving many customers each year. Many Grease Monkey® centers are franchisee owned and operated. Their franchisees are entrepreneurs who come from a wide range of backgrounds and experience. Besides offering needed maintenance services to car and truck owners, Grease Monkey® franchisees play an important role as business owners, employers, supporters, and good citizens in the communities they serve.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Services | - | - | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-1626-A | Improvements Assessment | $498,800 |
| Land Assessment | $219,900 | Total Assessment | $718,700 |
PROPERTY TAXES
Parcel Number
09-1626-A
Land Assessment
$219,900
Improvements Assessment
$498,800
Total Assessment
$718,700
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Grease Monkey | 2236 Mercantile Dr
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