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Shopping Strip

Pep Boys

631 E Lincoln Hwy, New Lenox, IL 60451

Listing Price: $2,319,000

Cap Rate
6.00%
Gross SF
5,546
Rentable SF
5,546
Price/Gross SF
$418.14
Lot Size
0.68 acres
Year Built
2014

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest
in a net leased Pep Boys, built in 2014 and located on an outparcel to a Walmart Supercenter
anchored power center in suburban New Lenox, Illinois. This location is the primary retail hub
in New Lenox, a wealthy suburb of Chicago. Additional co-tenants within this shopping center
include T.J. Maxx, Ross, and Petco.
Built in 2014, this Pep Boys location incorporates the brand’s latest store prototype design
language. There are currently over 5 years remaining on the lease, with four 5-year options
remaining, each of which features 10 percent rent bumps at the start of each renewal period.
Landlord responsibilities are minimal, with the lease requiring that the landlord be responsible
for repairing or replacing the roof, walls, and foundation. This is a corporate Pep Boys lease
with the tenant The Pep Boys Manny Moe & Jack of California Inc. as Lessee.
This Pep Boys site is prominently positioned on U.S. Highway 30, with exposure to over 22,000
vehicles per day. The 5,500+ square-foot building is situated on a land parcel that is over twothirds of an acre, and Pep Boys pays a per square foot rent of $25*, a highly replaceable rent
for a Walmart pad.
Average household incomes within a 5-mile radius approach $140,000 annually, about 20
percent higher than the current average household income in the state of Illinois and nearly
double the national average. Over 90,000 people live within five miles of this Pep Boys location.

Investment Highlights

  • Corporate Pep Boys Positioned on an Outparcel to a Walmart Supercenter With Over Five Years of Lease Term Remaining
  • Newer Construction, Completed in 2014, Featuring Pep Boys' Latest Prototype Design
  • Replaceable Rent for a Walmart Pad — The Tenant Pays $25 per Square Foot
  • Highly Visible Site, Positioned Right on U.S. Highway 30 With Exposure to Over 22,000 Vehicles per Day
  • In Addition to Walmart, Pep Boys is Also Shadow Anchored by T.J. Maxx, Ross, and Petco, All of Which are Located Within this Larger Power Center
  • The Lease Contains Four Five Year Renewal Options With 10 Percent Rent Bumps at the Start of Each Renewal Period
  • Minimal Landlord Responsibilities — Ownership Is Responsible for Repairs and Replacements of the Walls, Foundation, and Roof
  • Attractive Demographics for Any Retailer — Average Household Incomes Within Five Miles Approach $140,000 Annually

Exclusively Listed By

Shopping Strip

Pep Boys

Listing Price: $2,319,000

Cap Rate
6.00%
Gross SF
5,546
Rentable SF
5,546
Price/Gross SF
$418.14
Lot Size
0.68 acres
Year Built
2014

Investment Highlights

  • Corporate Pep Boys Positioned on an Outparcel to a Walmart Supercenter With Over Five Years of Lease Term Remaining
  • Newer Construction, Completed in 2014, Featuring Pep Boys' Latest Prototype Design
  • Replaceable Rent for a Walmart Pad — The Tenant Pays $25 per Square Foot
  • Highly Visible Site, Positioned Right on U.S. Highway 30 With Exposure to Over 22,000 Vehicles per Day
  • In Addition to Walmart, Pep Boys is Also Shadow Anchored by T.J. Maxx, Ross, and Petco, All of Which are Located Within this Larger Power Center
  • The Lease Contains Four Five Year Renewal Options With 10 Percent Rent Bumps at the Start of Each Renewal Period
  • Minimal Landlord Responsibilities — Ownership Is Responsible for Repairs and Replacements of the Walls, Foundation, and Roof
  • Attractive Demographics for Any Retailer — Average Household Incomes Within Five Miles Approach $140,000 Annually

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a net leased Pep Boys, built in 2014 and located on an outparcel to a Walmart Supercenter anchored power center in suburban New Lenox, Illinois. This location is the primary retail hub in New Lenox, a wealthy suburb of Chicago. Additional co-tenants within this shopping center include T.J. Maxx, Ross, and Petco. Built in 2014, this Pep Boys location incorporates the brand’s latest store prototype design language. There are currently over 5 years remaining on the lease, with four 5-year options remaining, each of which features 10 percent rent bumps at the start of each renewal period. Landlord responsibilities are minimal, with the lease requiring that the landlord be responsible for repairing or replacing the roof, walls, and foundation. This is a corporate Pep Boys lease with the tenant The Pep Boys Manny Moe & Jack of California Inc. as Lessee. This Pep Boys site is prominently positioned on U.S. Highway 30, with exposure to over 22,000 vehicles per day. The 5,500+ square-foot building is situated on a land parcel that is over twothirds of an acre, and Pep Boys pays a per square foot rent of $25*, a highly replaceable rent for a Walmart pad. Average household incomes within a 5-mile radius approach $140,000 annually, about 20 percent higher than the current average household income in the state of Illinois and nearly double the national average. Over 90,000 people live within five miles of this Pep Boys location.

Exclusively Listed By

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