Skip to main content

Auto Parts

Mr. Tire Service Centers #756 & #758

1105 North Point Rd, Dundalk, MD 21222

Listing Price: $4,433,098

Cap Rate
6.00%
Tenant Name
Mr. Tire (Monro, Inc.)
Years Remaining On Lease
8.9
Guarantor
Corporate Guarantee
Rentable SF
13,747
Lease Type
Absolute Net
Rent Per Square Feet
$19.35

Investment Overview

Marcus & Millichap is please to announce our latest investment offering of Mr. Tire Auto Service Centers (Monro #756 & #758) located in Dundalk and Essex, Maryland. The properties are home to very successful Mr. Tire locations and have continuously been utilized to create and maintain the strong market share Mr. Tire has in the greater Baltimore region and beyond. As a company, Mr. Tire installs three million tires on their customers automobiles each year. The business is not just that of tires, as a full-service automotive center, Mr. Tire offers mechanical repairs, general maintenance, and oil changes as a one stop shop for customers. Both locations are free-standing single-tenant buildings with long-term absolute-net leases. In August 2022, Monro, Inc. exemplified the strength of the stores by extending each lease four years in advance of the expiration date, without and reduction in the current rent. This positive event created an additional guaranteed lease term of over nine years; each location also has one five-year option through 2036. Both leases have an 8% rental rate increase every five years and in the option period, assuring a fixed and steady rent growth going forward.

Investment Highlights

  • Two Store Portfolio with Leases Extended Early Thru 2031
  • Corporate Lease with Monro, Inc.
  • Absolute-Net Leases with Increases

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (201) 742-6100

    License(s) MD: 5005538

    Maryland

Auto Parts

Mr. Tire Service Centers #756 & #758

Listing Price: $4,433,098

Cap Rate
6.00%
Tenant Name
Mr. Tire (Monro, Inc.)
Years Remaining On Lease
8.9
Guarantor
Corporate Guarantee
Rentable SF
13,747
Lease Type
Absolute Net
Rent Per Square Feet
$19.35

Investment Highlights

  • Two Store Portfolio with Leases Extended Early Thru 2031
  • Corporate Lease with Monro, Inc.
  • Absolute-Net Leases with Increases

Investment Overview

Marcus & Millichap is please to announce our latest investment offering of Mr. Tire Auto Service Centers (Monro #756 & #758) located in Dundalk and Essex, Maryland. The properties are home to very successful Mr. Tire locations and have continuously been utilized to create and maintain the strong market share Mr. Tire has in the greater Baltimore region and beyond. As a company, Mr. Tire installs three million tires on their customers automobiles each year. The business is not just that of tires, as a full-service automotive center, Mr. Tire offers mechanical repairs, general maintenance, and oil changes as a one stop shop for customers. Both locations are free-standing single-tenant buildings with long-term absolute-net leases. In August 2022, Monro, Inc. exemplified the strength of the stores by extending each lease four years in advance of the expiration date, without and reduction in the current rent. This positive event created an additional guaranteed lease term of over nine years; each location also has one five-year option through 2036. Both leases have an 8% rental rate increase every five years and in the option period, assuring a fixed and steady rent growth going forward.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (201) 742-6100

    License(s): MD: 5005538

    Maryland

MM Texture Background
MM Textured Background Lower