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Shopping Auto Center

Mr. Tire

1746 E Joppa Rd, Towson, MD 21234

Listing Price: $3,790,000

Cap Rate
6.39%
Gross SF
15,370
Rentable SF
15,370
Price/Gross SF
$246.58
Lot Size
0.72 acres
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to announce our latest investment offering of the three tenant, net-leased buildings located in Townson, MD. The property is home to a Mr. Tire Auto Service Centers and a long-term entrepreneurial tenant which has operated multiple business concepts at this location since 1996. Mr. Tire has operated at this location since 1982 and has continuously utilized the location to sustain their strong market share across the entire greater Baltimore region and well beyond. As a company, Mr. Tire installs approximately three million tires on customer automobiles each year. Their business is not just tires, but as one of the preeminent full-service automotive centers. Mr. Tire offers mechanical repairs, general maintenance, oil changes and of course tires as a one stop shop for their vast multi-state customer base. The parent company of Mr. Tire (Monro, Inc.) is publicly traded on the Nasdaq(MNRO) and has an approximate market capitalization of $2.2 billion. The property has superior visibility with prominent signage along the busy East Joppa Road retail thoroughfare, granting direct access to the high-density submarket of greater Baltimore. The building is ideal for the going concern, having multiple automotive bays with hydraulic lifts; and excellent frontage for the long-term street retail tenant now capitalizing on a massive growth industry. With the recession resistant operation of Mr. Tire and proven co-tenancy, opportunity will be found by an astute owner byway of no fixed term extension for Mr. Tire. This creates a rarely seen future upside in the net-leased asset market. Without any fixed rent extension, a new owner will have the ability to secure new terms with a 40-year tenant upon lease expiration. A forward-thinking investor will negotiate lease length upon expiration, at a proven in-fill metropolitan real estate location creating continued security or a natural exit strategy. The asset is poised to generate strong immediate returns and is insulated from market flux due to the service nature of all businesses and proven historical occupancy. Built in rent increases are an immediate hedge in the short term against inflation, while also having the luxury to negotiate upon lease expiration.

Investment Highlights

  • Mr. Tire is a Long-Term Tenant - 40 Years
  • Corporate Parent - Monro, Inc.
  • 10% Rent Increase in 2025

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) MD: 5005538

    Maryland

Listing Price: $3,790,000

Cap Rate
6.39%
Gross SF
15,370
Rentable SF
15,370
Price/Gross SF
$246.58
Lot Size
0.72 acres
Year Built
1970

Investment Highlights

  • Mr. Tire is a Long-Term Tenant - 40 Years
  • Corporate Parent - Monro, Inc.
  • 10% Rent Increase in 2025

Investment Overview

Marcus & Millichap is pleased to announce our latest investment offering of the three tenant, net-leased buildings located in Townson, MD. The property is home to a Mr. Tire Auto Service Centers and a long-term entrepreneurial tenant which has operated multiple business concepts at this location since 1996. Mr. Tire has operated at this location since 1982 and has continuously utilized the location to sustain their strong market share across the entire greater Baltimore region and well beyond. As a company, Mr. Tire installs approximately three million tires on customer automobiles each year. Their business is not just tires, but as one of the preeminent full-service automotive centers. Mr. Tire offers mechanical repairs, general maintenance, oil changes and of course tires as a one stop shop for their vast multi-state customer base. The parent company of Mr. Tire (Monro, Inc.) is publicly traded on the Nasdaq(MNRO) and has an approximate market capitalization of $2.2 billion. The property has superior visibility with prominent signage along the busy East Joppa Road retail thoroughfare, granting direct access to the high-density submarket of greater Baltimore. The building is ideal for the going concern, having multiple automotive bays with hydraulic lifts; and excellent frontage for the long-term street retail tenant now capitalizing on a massive growth industry. With the recession resistant operation of Mr. Tire and proven co-tenancy, opportunity will be found by an astute owner byway of no fixed term extension for Mr. Tire. This creates a rarely seen future upside in the net-leased asset market. Without any fixed rent extension, a new owner will have the ability to secure new terms with a 40-year tenant upon lease expiration. A forward-thinking investor will negotiate lease length upon expiration, at a proven in-fill metropolitan real estate location creating continued security or a natural exit strategy. The asset is poised to generate strong immediate returns and is insulated from market flux due to the service nature of all businesses and proven historical occupancy. Built in rent increases are an immediate hedge in the short term against inflation, while also having the luxury to negotiate upon lease expiration.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): MD: 5005538

    Maryland

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