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5008 Ace Ln
Naperville, IL 60564
Grease Monkey Oil Change & Car Wash · Specialty Property For Sale
·
8,770 SF
Investment Highlights
- Absolute NNN 12 Year Lease with 2% Annual Rent Increases
- Bonus Depreciation Year 1
- Auto Service & Car Wash
- Two 5-Year Renewal Options
- Seasoned & Proven Operator, Demographics Ideal for Essential Auto Service Retail
Executive Summary
CBRE is pleased to present an opportunity to acquire a brand new 12-year Absolute NNN single-tenant property leased to Grease Monkey, an oil change and auto service station concept. The tenant signing this new absolute NNN Lease relieves the landlord of operational and capex expenditures over the life of the lease. The parcel is located in Naperville, DuPage County, Illinois, just 30 miles west of downtown Chicago.
Investment highlights
- Absolute NNN Lease - No Landlord Responsibilities
- Extremely Low Rent at Price/SF
- New 12-Year Base Term with Two (2) 5-Year Options
- 2% Annual Rent Increases
- Lease Term: 144 months (12 years) Commencing Upon Building Delivery to Tenant Renewal Options: Two (2) x Five (5) year options (22 years total potential term)
- 8,770 SF (Multi-Bay Auto Service Center) on 1.19 Acres
Tenant Responsibilities (NNN):
- All Maintenance and Repairs Including Structural, Roof, and Load-Bearing Walls
- All Taxes and Assessments
- All Insurance and Utilities
Operator Strength:
- Proven and seasoned multi-unit Grease Monkey franchisee
- Personal Guarantee Backed By Strong Financials
The Sublease: Hidden deal Within the Deal:
-Operator Has Signed A 12-Year Carwash Sublease With Illinois-Based Global Wide Holdings, Co-Terminus With The Master Lease Term
-Subtenant Pays $60,000/Yr Base Rent Plus:
-50% Of Real Estate Taxes And Insurance
-100% Of The Water Bill
-40% Of Gas And Electric
-50% Of Trash, Internet, And Phone
-Sublease Escalates At 2% Annually, Mirroring Master Lease
-Effective Net Rent To The Operator Drops From $135,000 to ~$75,000, Meaning This Unit Only Needs To Do Revenue Of $1M In Annual Gross Sales To Maintain A Healthy 7.5% Rent To Sales Ratio
-Operator’s Existing Stores: Top Two Clear $1M+ Revenue In Far Weaker Demographics Than Naperville
-The Subtenant Economics Flow Only To The Operator, But This Creates Downside Protection Without Capping Upside
Investment highlights
- Absolute NNN Lease - No Landlord Responsibilities
- Extremely Low Rent at Price/SF
- New 12-Year Base Term with Two (2) 5-Year Options
- 2% Annual Rent Increases
- Lease Term: 144 months (12 years) Commencing Upon Building Delivery to Tenant Renewal Options: Two (2) x Five (5) year options (22 years total potential term)
- 8,770 SF (Multi-Bay Auto Service Center) on 1.19 Acres
Tenant Responsibilities (NNN):
- All Maintenance and Repairs Including Structural, Roof, and Load-Bearing Walls
- All Taxes and Assessments
- All Insurance and Utilities
Operator Strength:
- Proven and seasoned multi-unit Grease Monkey franchisee
- Personal Guarantee Backed By Strong Financials
The Sublease: Hidden deal Within the Deal:
-Operator Has Signed A 12-Year Carwash Sublease With Illinois-Based Global Wide Holdings, Co-Terminus With The Master Lease Term
-Subtenant Pays $60,000/Yr Base Rent Plus:
-50% Of Real Estate Taxes And Insurance
-100% Of The Water Bill
-40% Of Gas And Electric
-50% Of Trash, Internet, And Phone
-Sublease Escalates At 2% Annually, Mirroring Master Lease
-Effective Net Rent To The Operator Drops From $135,000 to ~$75,000, Meaning This Unit Only Needs To Do Revenue Of $1M In Annual Gross Sales To Maintain A Healthy 7.5% Rent To Sales Ratio
-Operator’s Existing Stores: Top Two Clear $1M+ Revenue In Far Weaker Demographics Than Naperville
-The Subtenant Economics Flow Only To The Operator, But This Creates Downside Protection Without Capping Upside
Property Facts
| Sale Type | Investment | Lot Size | 1.19 AC |
| Cap Rate | 6% | Building Size | 8,770 SF |
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Car Wash | Year Built/Renovated | 2003/2025 |
| Building Class | C | Parking Ratio | 2.72/1,000 SF |
| Sale Type | Investment |
| Cap Rate | 6% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | C |
| Lot Size | 1.19 AC |
| Building Size | 8,770 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2003/2025 |
| Parking Ratio | 2.72/1,000 SF |
Property Taxes
| Parcel Number | 07-01-21-209-007 | Improvements Assessment | $443,192 |
| Land Assessment | $120,475 | Total Assessment | $563,667 |
Property Taxes
Parcel Number
07-01-21-209-007
Land Assessment
$120,475
Improvements Assessment
$443,192
Total Assessment
$563,667
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