Auto Service - Gas-Conv

Meineke Car Care NNN Sale Leaseback - San Francisco Bay

2425 Pacheco Blvd, Martinez, CA 94553

Listing Price: $1,415,385

Cap Rate
6.50%
Tenant Name
Meineke Car Care Center
Guarantor
Franchisee Guarantee
Rentable SF
6,248
Lease Type
Absolute Net
Rent Per Square Feet
$1.00

Investment Overview

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in a netleased retail building in the San Francisco Bay area. The offering is a national automotive repair shop, Meineke Car Care Center, with a 5-year absolute NNN sale-leaseback. The tenant is currently the highest performing franchisee at Meineke with 23 locations under its management with a presence in three states. The tenant will commit to 5-year absolute NNN lease with 2% rent escalations every year including during the four, 5-year option periods. The operators are very committed to this location and invested over $20,000 in remodeling this location in 2019. The subject property is situated on a hard corner signalized intersection in the city of Martinez, CA. The property is located near large manufacturing plants and is surrounded by 41,000 households within a 5-mile radius which is approximately a population of 113,000. Nearby national retailers include Speedway, 7 Eleven, Ace Hardware, Federal Credit Union, etc. The property is exposed to approximately 34,800 vehicles per day and is minutes away from Interstate-680.

Investment Highlights

  • 5 YEAR ABSOLUTE NNN SALE-LEASE BACK
  • ATTRACTIVE 2% ANNUAL ESCALATIONS
  • STRONG GUARANTEE BY ONE OF NATION'S LARGEST MEINEKE FRANCHISEES
  • COMMITED TENANT REMODELED THE PROPERTY IN 2019
  • FOUR, FIVE-YEAR OPTIONS TO RENEW

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    License(s): CA: 00530854

    California

Auto Service - Gas-Conv

Meineke Car Care NNN Sale Leaseback - San Francisco Bay

Listing Price: $1,415,385

Cap Rate
6.50%
Tenant Name
Meineke Car Care Center
Guarantor
Franchisee Guarantee
Rentable SF
6,248
Lease Type
Absolute Net
Rent Per Square Feet
$1.00

Investment Highlights

  • 5 YEAR ABSOLUTE NNN SALE-LEASE BACK
  • ATTRACTIVE 2% ANNUAL ESCALATIONS
  • STRONG GUARANTEE BY ONE OF NATION'S LARGEST MEINEKE FRANCHISEES
  • COMMITED TENANT REMODELED THE PROPERTY IN 2019
  • FOUR, FIVE-YEAR OPTIONS TO RENEW

Investment Overview

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in a netleased retail building in the San Francisco Bay area. The offering is a national automotive repair shop, Meineke Car Care Center, with a 5-year absolute NNN sale-leaseback. The tenant is currently the highest performing franchisee at Meineke with 23 locations under its management with a presence in three states. The tenant will commit to 5-year absolute NNN lease with 2% rent escalations every year including during the four, 5-year option periods. The operators are very committed to this location and invested over $20,000 in remodeling this location in 2019. The subject property is situated on a hard corner signalized intersection in the city of Martinez, CA. The property is located near large manufacturing plants and is surrounded by 41,000 households within a 5-mile radius which is approximately a population of 113,000. Nearby national retailers include Speedway, 7 Eleven, Ace Hardware, Federal Credit Union, etc. The property is exposed to approximately 34,800 vehicles per day and is minutes away from Interstate-680.

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    License(s): CA: 00530854

    California

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