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Meineke Car Care 1416 N Leroy St 5,539 SF 100% Leased Retail Building Fenton, MI 48430 $2,121,253 CAD ($382.97 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term lease structure provides durable, predictable cash flow with zero landlord responsibilities
- Lease is guaranteed by Marcor – a 37-unit Meineke operator (Marcor is the Second Largest Meineke Operator)
- Lease runs through November 2045, offering nearly two decades of secure income with renewal options thereafter
- Tenant is responsible for roof, parking lot, HVAC, CAM, taxes, and insurance, eliminating capital expenditure and operating risk
- 10% rental increases every 5 years, delivering consistent NOI growth and inflation protection throughout the primary term
- Meineke provides non-discretionary automotive services, supporting stable performance across economic cycles
EXECUTIVE SUMMARY
ABSOLUTE NET - Zero Landlord Responsibility | 20 Year Term
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,539 SF
Building Class
C
Year Built
2000
Price
$2,121,253 CAD
Price Per SF
$382.97 CAD
Cap Rate
6.50%
NOI
$137,881 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.20
Lot Size
0.64 AC
Zoning
GBD
Frontage
100’ on Leroy St
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 53-24-551-006 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $340,911 CAD |
PROPERTY TAXES
Parcel Number
53-24-551-006
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$340,911 CAD
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Meineke Car Care | 1416 N Leroy St
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