The subject property is 100% leased on a NNN basis to Monro Muffler Brake, Inc. (NASDAQ: MNRO) through February 28, 2027. The tenant has three, 5-year options to renew with 10% increases at the beginning of each option period , growing NOI and hedging against inflation. Monro is one of the nations leading automotive service providers with over 1,300 stores and 9,000 service bays nationwide, and generated approximately $1.4 billion in sales in fiscal 2022.
| Property Type | Retail |
|---|---|
| Zoning | B-2 |
| Cap Rate Percentage | 7 |
| Listing ID | 4PELSN |
| Building Size | 10,676 SF |
| Lot Size | 31250 SF |
| Taxes | $24,609 |
Area Description: The subject property is ideally located near the signalized, hard corner intersection of State Highway 55 and Eastland Drive in Bloomington, Illinois, and provides excellent visibility and easy accessibility to the site. The building is just east of State Farm’s headquarters, OSF Healthcare and Eastland Mall. Area tenants include Lowe’s, Fresh Thyme, Schnuck’s, OSF Healthcare, State Farm, Mid-Illini Credit Union, Noodle’s, Starbucks, Chipotle, and many more. Traffic Counts: Eastland Dr. – 5,150 VPD Veterans Pkwy. – 35,700 VPD