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Meineke Car Care 6112 & 6154 W 111th St 2,242 SF Retail Building Chicago Ridge, IL 60415 $2,097,283 CAD ($935.45 CAD/SF) 7.05% Cap Rate
Investment Highlights
- 13-Years Remaining NNN Lease | Guaranteed by Largest Meineke Franchisee
- Frontage to W. 111th Street (26,900 VPD) | Excellent Visibility / Access
- Major Employment and Institutional Drivers Nearby
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Trade Area | Infill Chicago Location | Surrounded by National Tenants
- Strong Demographics and Daytime Population in 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group, LP is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Meineke Car Care Center investment property located in Chicago Ridge, Illinois. The tenant, Meineke Car Care Center (Marcor LLC) signed a 15 year lease with 13 Years remaining and 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,242 SF
Building Class
C
Year Built/Renovated
1965/2024
Price
$2,097,283 CAD
Price Per SF
$935.45 CAD
Cap Rate
7.05%
NOI
$147,814 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.53 AC
Zoning
C-2 - General Service District
Parking
35 Spaces (15.61 Spaces per 1,000 SF Leased)
Frontage
115’ on W 111th St
Amenities
- Corner Lot
- Pylon Sign
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $38,373 CAD | |
| Land Assessment | $78,685 CAD | Total Assessment | $117,058 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$78,685 CAD
Improvements Assessment
$38,373 CAD
Total Assessment
$117,058 CAD
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Meineke Car Care | 6112 & 6154 W 111th St
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