For Sale
$1,911,756

2015 Western Ave Marion, IN 46953

High-yield, NNN-leased auto shop.

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents a 1,750 square foot, single-tenant auto shop located at 2015 S Western Ave, Marion, IN 46953. The property sits on a 0.54-acre lot and is 100% occupied by Strickland Brothers 10 Minute Oil Change under an Absolute NNN lease with a remaining term of 14.4 years, expiring March 31, 2039. The lease includes 10% rent bumps every five years and four 5-year renewal options. The property boasts a strong 6.70% cap rate and a Net Operating Income (NOI) of $128,087. The building, constructed in 2024, is a single-story structure offering drive-thru oil change services. Strickland Brothers provides 10-minute oil changes, oil filter replacements, chassis lubrication, and complimentary maintenance checks. The franchisee has been thoroughly vetted for business experience and financial strength. This investment benefits from the backing of Princeton Equity Group, a firm with a proven track record of growing emerging brands. Given Strickland Brothers' aggressive growth plans and favorable market pricing, this property offers a compelling combination of strong current yield and significant upside potential. The property's corporate credit tenant and long-term lease provide exceptional stability and security for investors.

Highlights

  • Strong corporate credit tenant.
  • High-quality construction and finishes.
  • Excellent location with high visibility and accessibility.
  • Favorable lease terms.
  • Significant upside potential for future rent growth.

Property Details for 2015 Western Ave

Property type
Retail properties, Auto shops
Square Feet
1,750 SF
Year Renovated
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
23,522 SF
Units
1

Location Insight

City
Marion
County
Grant
State
Indiana
Latitude
40.5424587
Longitude
-85.673233
2015 Western Ave, Marion, Indiana

FAQs

What type of property is this?
Retail property - High-yield, NNN-leased auto shop.
Where is the retail property located?
The property is located at 2015 Western Ave Marion, IN.
What is the asking price?
The asking price for this property is $1,911,756.
What are key features of this property?
This property features: Strong corporate credit tenant.; High-quality construction and finishes.; Excellent location with high visibility and accessibility.
How can I contact the broker?
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2015 Western Ave
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