Auto Service - Gas-Conv

Service King

Listing Price: $915,641

Cap Rate
7.25%
Tenant Name
Service King
Years Remaining On Lease
7.40
Gross SF
12,500
Guarantor
No Guarantee
Rentable SF
12,500
Price/Gross SF
$73.25
Lease Type
Double Net
Rent Per Square Feet
$6.27

Investment Overview

Marcus & Millichap is pleased to present this Service King facility located in Peotone, Illinois. The subject property is a 12,500-square-foot facility sitting on 1.00 acre located on South Harlem Avenue. There are over seven years remaining on the lease, as well as three, five-year options to renew. The current lease has a ten percent rent increase in 2021.

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.

Peotone, Illinois is a small, rural community conveniently nested in Will County just south of Chicago. Peotone is located between Interstate 57 and Illinois Route 50. Peotone welcomes growth in business and general economic development. Its workforce is well educated with a strong work ethic. Bordered on two sides by the Interstate 57 interchange and a four-lane state highway, movement of raw materials and product is fuel and time efficient.

Chicago-Naperville-Elgin is one of the largest metros in the nation. Also known as the Greater Chicagoland area, it is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.6 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region. In recent years, however, businesses are relocating back into the city to attract young workers, supporting the development of high-rise residential and office towers in the downtown Chicago.

Investment Highlights

  • The Nation's Third Largest Collision Center Chain with 345 Locations in 24 States
  • The Blackstone Group Purchased Majority Ownership of Service King in 2014
  • 7.7 Years of Lease Term Remaining
  • 10% Rent Increase in 2021
  • Over 30 Years of Operating History as a Collision Center

Exclusively Listed By

Auto Service - Gas-Conv

Service King

Listing Price: $915,641

Cap Rate
7.25%
Tenant Name
Service King
Years Remaining On Lease
7.40
Gross SF
12,500
Guarantor
No Guarantee
Rentable SF
12,500
Price/Gross SF
$73.25
Lease Type
Double Net
Rent Per Square Feet
$6.27

Investment Highlights

  • The Nation's Third Largest Collision Center Chain with 345 Locations in 24 States
  • The Blackstone Group Purchased Majority Ownership of Service King in 2014
  • 7.7 Years of Lease Term Remaining
  • 10% Rent Increase in 2021
  • Over 30 Years of Operating History as a Collision Center

Investment Overview

Marcus & Millichap is pleased to present this Service King facility located in Peotone, Illinois. The subject property is a 12,500-square-foot facility sitting on 1.00 acre located on South Harlem Avenue. There are over seven years remaining on the lease, as well as three, five-year options to renew. The current lease has a ten percent rent increase in 2021.

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.

Peotone, Illinois is a small, rural community conveniently nested in Will County just south of Chicago. Peotone is located between Interstate 57 and Illinois Route 50. Peotone welcomes growth in business and general economic development. Its workforce is well educated with a strong work ethic. Bordered on two sides by the Interstate 57 interchange and a four-lane state highway, movement of raw materials and product is fuel and time efficient.

Chicago-Naperville-Elgin is one of the largest metros in the nation. Also known as the Greater Chicagoland area, it is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.6 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region. In recent years, however, businesses are relocating back into the city to attract young workers, supporting the development of high-rise residential and office towers in the downtown Chicago.

Exclusively Listed By

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