Auto Service - Gas-Conv

Service King

55 Crennell Ave, Crafton, PA 15205

Listing Price: $1,314,064

Cap Rate
7.75%
Tenant Name
Service King
Years Remaining On Lease
6.2
Gross SF
12,000
Guarantor
No Guarantee
Rentable SF
12,000
Price/Gross SF
$109.51
Lease Type
Double Net
Rent Per Square Feet
$8.61

Investment Overview

Marcus & Millichap is pleased to present this Service King facility located in Crafton, Pennsylvania. The subject property is a 12,000-square-foot facility sitting on 0.90 acres located off Steuben Street on Crennell Avenue. There are almost seven years remaining on the lease, as well as three, five-year options to renew. The current lease and the renewal options have two percent annual rent increases.

Service King Collision Repair Centers, with more than 40 years of experience in the automotive repair industry, is a leading national operator of comprehensive, high-quality collision repair facilities. The organization is consistently recognized for its commitment to customer satisfaction, quality workmanship and giving back to the industry through innovative training and recruiting initiatives. Service King traces its roots back to Dallas, Texas and founder Eddie Lennox who opened the very first Service King in 1976. Today, Service King operates locations in 24 states across the United States.

Crafton is a borough in Allegheny County, Pennsylvania, west of downtown Pittsburg. Living in Crafton offers residents a dense suburban feel and most residents own their homes. Many young professionals live in Crafton, and the public schools are above average.

The Pittsburgh metro rests at the foothills of the Allegheny Mountains in the southeastern corner of Pennsylvania, outside the congested East Coast corridor. Consisting of Armstrong, Butler, Fayette, Westmoreland, Washington, Allegheny and Beaver counties, the metro contains nearly 2.4 million residents, with nearly half concentrated in Allegheny county. The regions economy, which was once dominated by the steel industry, has diversified with the help of the areas many colleges and universities. The city of Pittsburgh is located where the Allegheny and Monongahela rivers join to form the Ohio River. Pittsburgh is the most populous city in the metro and the second-largest in Pennsylvania, with approximately 310,900 residents.

Investment Highlights

  • Service King Operates out of 345 Locations in 24 States
  • The Blackstone Group Purchased Majority Ownership in 2014
  • 6.8 Years of Lease Term Remaining
  • 2% Annual Increases
  • New Roof (Two Years Old)
  • Crafton is Located Five Miles West of Pittsburgh, Pennsylvania

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

Auto Service - Gas-Conv

Service King

Listing Price: $1,314,064

Cap Rate
7.75%
Tenant Name
Service King
Years Remaining On Lease
6.2
Gross SF
12,000
Guarantor
No Guarantee
Rentable SF
12,000
Price/Gross SF
$109.51
Lease Type
Double Net
Rent Per Square Feet
$8.61

Investment Highlights

  • Service King Operates out of 345 Locations in 24 States
  • The Blackstone Group Purchased Majority Ownership in 2014
  • 6.8 Years of Lease Term Remaining
  • 2% Annual Increases
  • New Roof (Two Years Old)
  • Crafton is Located Five Miles West of Pittsburgh, Pennsylvania

Investment Overview

Marcus & Millichap is pleased to present this Service King facility located in Crafton, Pennsylvania. The subject property is a 12,000-square-foot facility sitting on 0.90 acres located off Steuben Street on Crennell Avenue. There are almost seven years remaining on the lease, as well as three, five-year options to renew. The current lease and the renewal options have two percent annual rent increases.

Service King Collision Repair Centers, with more than 40 years of experience in the automotive repair industry, is a leading national operator of comprehensive, high-quality collision repair facilities. The organization is consistently recognized for its commitment to customer satisfaction, quality workmanship and giving back to the industry through innovative training and recruiting initiatives. Service King traces its roots back to Dallas, Texas and founder Eddie Lennox who opened the very first Service King in 1976. Today, Service King operates locations in 24 states across the United States.

Crafton is a borough in Allegheny County, Pennsylvania, west of downtown Pittsburg. Living in Crafton offers residents a dense suburban feel and most residents own their homes. Many young professionals live in Crafton, and the public schools are above average.

The Pittsburgh metro rests at the foothills of the Allegheny Mountains in the southeastern corner of Pennsylvania, outside the congested East Coast corridor. Consisting of Armstrong, Butler, Fayette, Westmoreland, Washington, Allegheny and Beaver counties, the metro contains nearly 2.4 million residents, with nearly half concentrated in Allegheny county. The regions economy, which was once dominated by the steel industry, has diversified with the help of the areas many colleges and universities. The city of Pittsburgh is located where the Allegheny and Monongahela rivers join to form the Ohio River. Pittsburgh is the most populous city in the metro and the second-largest in Pennsylvania, with approximately 310,900 residents.

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

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