Investment Overview

Marcus & Millichap is pleased to present for sale Monroe Auto Service in Cudahy, Wisconsin. This corporately guaranteed, single-tenant triple-net Monroe Auto Service Center presents an attractive investment opportunity. Monroe Auto is publicly traded on the NASDAQ under the symbol "MNRO" and is the second-largest auto service company in the U.S., just behind Driven Brands. With 1,300 locations across 32 states, the company continues to expand, operating under 16 different tire and auto service brands. As of March 2024, Monroe Auto reported total sales of $1.276 billion and a net worth of $656 million, highlighting its strong financial position. The property offers solid real estate fundamentals, with a proven history of operation. It features six separate service bays and a waiting area, providing a functional and efficient layout for auto services. The site includes a highly visible, large pylon sign along Packard Avenue, enhancing its exposure to passing traffic. The lease includes annual rent increases of 1.50 percent during the base term and option periods. Additionally, the rental rate of $17.56 per square foot is modest and replaceable. This location has operated as an auto service center for over 22 years, demonstrating its reliability and consistent performance. Located within the Milwaukee Metropolitan Statistical Area (MSA), the property is situated in a densely populated area with over 53,400 residents within a three-mile radius and the average household income in this area is $75,042. The service center is conveniently positioned near several national retailers, including Walmart, Walgreens, and Dunkin’ Donuts. Additionally, it is located just 1.5 miles east of Milwaukee Mitchell International Airport and only 0.75 miles from Lake Michigan.