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Auto Service - Gas-Conv

Pep Boys

1375 Marketplace Dr, Rochester, NY 14623

Listing Price: $2,581,128

Cap Rate
5.85%
Tenant Name
Pep Boys
Years Remaining On Lease
6.4
Gross SF
22,358
Guarantor
Corporate Guarantee
Rentable SF
22,358
Price/Gross SF
$115.45
Lease Type
Ground Lease
Rent Per Square Feet
$6.75

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Absolute Triple Net Ground
Lease Pep Boys in Henrietta, NY (Rochester MSA).
There are approximately six and a half years remaining on the lease followed by two five
year options. NOI will increase by 10 percent in September 2022 to $166,092 the remaining five
years of the lease.
Pep Boys is located only 0.2 miles off Interstate 390 which has an average of 69,920 vehicles per
day. Rochester is the fastest growing area in the region with over $2.5 billion dollars invested since
2000. Over $770 million is being invested in Downtown in 2020 by both the public and private sector.
World-class festivals, museums, concerts, sporting events, and food options draw in more than five
million annual visitors. The area is very densely populated with more than 500,000 people residing
within ten miles.
The Pep Boys: Manny, Moe & Jack (branded and commonly abbreviated as Pep Boys) is an
American automotive aftermarket retail and service chain. In 1921, four Navy buddies spotted an
emerging market for auto supplies stores and pooled $800 to open the first one in Philadelphia,
Pennsylvania. Since then, Pep Boys has been ahead of its time in the business world, weathering
several economic events to remain one of the most widely known aftermarket auto parts and service
brands in the country today.

Investment Highlights

  • Corporate Operated and Credit-Rated Guarantee (S&P BB+ Rating)
  • Essential Retail Tenant with Over 930 Stores in the US and Puerto Rico
  • Absolute Net Ground Lease (No Landlord Responsibilities)
  • Tenant is Responsible for taxes, insurance, and General Maintenance
  • Current Rent is at 50% of Market Rent
  • Rent Increases in September 2022 and with Commencement of Each Option Period

Exclusively Listed By

Listing Price: $2,581,128

Cap Rate
5.85%
Tenant Name
Pep Boys
Years Remaining On Lease
6.4
Gross SF
22,358
Guarantor
Corporate Guarantee
Rentable SF
22,358
Price/Gross SF
$115.45
Lease Type
Ground Lease
Rent Per Square Feet
$6.75

Investment Highlights

  • Corporate Operated and Credit-Rated Guarantee (S&P BB+ Rating)
  • Essential Retail Tenant with Over 930 Stores in the US and Puerto Rico
  • Absolute Net Ground Lease (No Landlord Responsibilities)
  • Tenant is Responsible for taxes, insurance, and General Maintenance
  • Current Rent is at 50% of Market Rent
  • Rent Increases in September 2022 and with Commencement of Each Option Period

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Absolute Triple Net Ground
Lease Pep Boys in Henrietta, NY (Rochester MSA).
There are approximately six and a half years remaining on the lease followed by two five
year options. NOI will increase by 10 percent in September 2022 to $166,092 the remaining five
years of the lease.
Pep Boys is located only 0.2 miles off Interstate 390 which has an average of 69,920 vehicles per
day. Rochester is the fastest growing area in the region with over $2.5 billion dollars invested since
2000. Over $770 million is being invested in Downtown in 2020 by both the public and private sector.
World-class festivals, museums, concerts, sporting events, and food options draw in more than five
million annual visitors. The area is very densely populated with more than 500,000 people residing
within ten miles.
The Pep Boys: Manny, Moe & Jack (branded and commonly abbreviated as Pep Boys) is an
American automotive aftermarket retail and service chain. In 1921, four Navy buddies spotted an
emerging market for auto supplies stores and pooled $800 to open the first one in Philadelphia,
Pennsylvania. Since then, Pep Boys has been ahead of its time in the business world, weathering
several economic events to remain one of the most widely known aftermarket auto parts and service
brands in the country today.

Exclusively Listed By

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