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995 East Belvidere Street Grayslake, Illinois 11611 MAIN STREET ROSCOE, IL 61073 GREASE MONKEY OFFERING MEMORANDUM PRESENTED BY:

GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

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Page 1: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

9 9 5 E a s t B e l v i d e r e S t r e e tG r a y s l a k e , I l l i n o i s

11611 MAIN STREETROSCOE, IL 61073

GREASE MONKEY

O F F E R I N G M E M O R A N D U MPRESENTED BY:

Page 2: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentialityand DisclaimerThe inf ormation contained in the f ollowing Marketing Brochure is proprietary and strictly conf idential. It is intended to be rev iewed only by the party receiv ing it from Marcus & Millichap andshould not be made av ailable to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to prov ide summary, unv erif iedinf ormation to prospectiv e purchasers, and to establish only a preliminary lev el of interest in the subject property . The inf ormation contained herein is not a substitute f or a thorough duediligence inv estigation. Marcus & Mil lichap has not made any inv estigation, and makes no warranty or representation, with respect to the income or expenses f or the subject property, thef uture projected f inancial perf ormance of the property, the size and square f ootage of the property and improv ements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the phy sical condition of the improv ements thereon, or the f inancial condition or business prospects of any tenant, or any tenant'splans or intentions to continue its occupancy of the subject property . The inf ormation contained in th is Marketing Brochure has been obta ined f rom sources we believ e to be reliable; howev er,Marcus & Mil lichap has not v erif ied, and wil l not v erify, any of the inf ormation contained here in, nor has Marcus & Mil lichap conducted any inv estigation regard ing these matters and makes nowarranty or representation whatsoev er regarding the accuracy or completeness of the inf ormation prov ided. All potential buy ers must take appropriate measures to v erify all of the inf ormationset f orth herein. Marcus & Millichap is a serv ice mark of Marcus & Millichap Real Estate Inv estment Serv ices, Inc. © 2018 Marcus & Millichap. All rights reserv ed.

Non-Endorsement NoticeMarcus & Mil lichap is not aff iliated with, sponsored by , or endorsed by any commercial tenant or lessee identif ied in this marketing package. The presence of any corporation's logo or name isnot intended to indicate or imply aff iliation with, or sponsorsh ip or endorsement by , said corporation of Marcus & Mil lichap, its aff iliates or subsidiaries, or any agent, product, serv ice, orcommercial listing of Marcus & Millichap, and is solely included f or the purpose of prov iding tenant lessee inf ormation about this listing to prospectiv e customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

GREASE MONKEYRockf ord, ILACT ID Z0370359

N E T L E A S E D D I S C L A I M E RMarcus & Millichap herebyadvises all prospective purchasers ofNet Leased propertyas follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will notverify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warrantyor representation whatsoever about the accuracyor completeness ofanyinformationprovided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information beforecompleting any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus &Millichap expresslydenies anyobligationto conduct a due diligence examination of this Propertyfor Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performanceof this property. The value of a net leased propertyto you depends on factors that should be evaluated byyou and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine toyour satisfaction with the suitabilityof the propertyfor your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legaland financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not aguarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based ona tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and anyguarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or inwhole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/herown investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacementtenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenantconsidering the location of the property, and Buyer’s legal abilityto make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost,expense, or liabilityarising out of your investigation and/or purchaseof this net leased property.

ROSCOE, ILLINOIS ID # Z0370879

Page 3: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

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SPROPER T YANALYSIS

GREASE MONKEY

Page 4: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

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G R E A S E M O N K E Y

O F F E R I N G P R I C E

$300,000C A P R AT E

10.00%VITAL DATA

Price $300,000

Cap Price 10.00%

Price/SF $185.19

Gross Square Feet 1,620 SF

Occupancy 100%

11611 MAIN STREET, ROSCOE, IL 61073

Page 5: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

PROPERTY DETAILS

THE OFFERING

Property GREASE MONKEY

Property Address11611 Main Street

Roscoe, IL 61073

Price $300,000

Capitalization Rate 10.00 %

Price/SF $185.19

PROPERT Y DESCRIPTION

Year Built / Renovated 1995

Gross Leasable Area 1,620 SF

Zoning Commercial

Type of Ownership Fee Simple

Lot Size 0.25 Acres

ANNUALIZED OPERATING INFORMATION

INCOME

Net Operating Income $30,000

LEASE SUMMARY

Property Subtype Net Leased Auto Service - Gas/Conv.

Tenant Grease Monkey

Rent Increases 2.5% Annual Rental Increases in each option period

Guarantor Corporate Guarantee

Lease Type NNN

Lease Commencement 3/26/2012

Lease Expiration 3/31/2023

Lease Term 11 Years

Term Remaining on Lease (Years) 4 Plus Years

Renewal Options 3, Five-Year Options

Landlord Responsibility Roof, Structure & Parking Lot

Tenant Responsibility Taxes, Repair, Maintenance, Insurance & Utilities

Right of First Refusal/Offer No

LEASE SUMMARY

YEAR ANNUAL RENT MONTHLY RENT RENT/SF CAP RATE

Current $30,000 $2,500 $18.52 10.00%

Year 2 $30,000 $2,500 $18.52 10.00%

Year 3 $30,000 $2,500 $18.52 10.00%

Year 4 $30,000 $2,500 $18.52 10.00%

Year 5 $30,000 $2,500 $18.52 10.00%

Page 6: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

LEASE SUMMARY

OOPERATING INFORMATION

Net Operating Income as of 2019 $30,000

Rent per Square Foot $18.52

Gross Leasable Area 1,620 SF

LEASE SUMMARY

Tenant: Grease Monkey

Guarantor: Corporate Guarantee

Credit Rating: NA

Rent Commencement: 3/26/2012

Initial Lease Term 11 Years

Options 3, Five-Year Options

Lease Type NNN

Base Rent$18.52/SF

$1.54SF/Month $30,000 Annual Rent

Rent Increases 2.5% Annual Rental Increases in each option period

Page 7: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

G R E A S E M O N K E Y - N OT E S

• Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred Dollars ($1,500.00). Lessor will pay the cost of all roof repairs required during the term hereof or any extended term and all structural building maintenance. Lessee will pay the cost of maintaining the existing HVAC unit, up to a maximum of Five Hundred Dollars ($500.00) per year. Lessee should have maintenance contract with a certified contractor to maintain the HVAC equipment and send the proof to Lessor every year.

• WATER, GAS AND ELECTRIC CHARGES. Lessee will pay, in addition to the rent above specfied, all water, sewer, gas and electric light and

power bills taxed, levied or charged on the Premises, for and during the time for which this lease is granted, and in case said water and sewer bills shall not be paid when due, condition, as above specified, are declared to be so much additional rent and payable with the installment of rent next due thereafter.

• KEEP PREMISES IN REPAIR. Lessee at its own expense will keep all interior fixtures and improvements in good repair (injury by fire, or other causes beyond Lessee’s control excepted) as well as in good tenantable and wholesome condition, and will comply with all local or general regulations, laws and ordinances applicable thereto, as well as lawful requirements of all competent authorities in that behalf. Lessee will, as far as possible, keep said interior improvements from deterioation due to ordinary wear and from falling temporarily out of repair. If Lessee does not make repairs as required hereunder promptly and adequately, Lessor may but need not make such repairs and pay the costs thereof, and such costs will be so much additional rent immediately due from and payable by Lessee to Lessor. Fur-ther, Lessee shall be fully responsible for all lawn care and snow removal required to keep the Premises operating in a commercially reasonable manner.

• LESSEE’S LIABILITY INSURANCE. Lessee shall, at its expense, keep and maintain during the term of this lease general public and property liability insurance against claims of property damage, bodily injury or death occuring upon, in or about the premises, with such insur-ance to be in the amount of not less than $500,000.00 in respect to bodily injury death to any one person and not less than $1,000,000.00 in respect to bodily injury or death to any number of persons in any one incident and not less than $100,000.00 in respect to damage to property. Such minimum coverage amounts shall be increased from time to time by notice to Lessee from Lessor when Lessor, in its best judgement, shall deem the then existing minimum liability coverage is inadequate to insure against the liability risk involved. Such policy shall name the Lessor as well as the Lessee as insureds.

Page 8: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

I N V E S T M E N T O V E R V I E W

Marcus & Millichap is pleased to present this exclusive listing for Grease Monkey located at 11611 Main Street in Roscoe, Illinois. The property is comprised of 1,620-square feet of building space. The site entails 0.25 acres of land comprised of one parcel. The site offers great visibility from the pylon signage along Main Street.

The property is subject to an NNN Lease with four plus years remaining. The Landlord will be responsible for the roof, and structure.

Grease Monkey purchased the business from Havoline Xpress in 2016, and signed a new five year lease with current ownership in 2018. This location has a history of operating a successful automotive preventative main-tenance business for over the last 20 years.

The subject property is situated just off the intersection of Second Street and Elevator Road which see over 31,500 vehicles per day. Tenants in the surrounding area include Dollar General, Anytime Fitness, McDonalds, Subway, Chase Bank, CVS, and Walgreens to name a few.

Page 9: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

I N V E S T M E N T H I G H L I G H T S

• The property is Located just off the Major Retail Corridor

• Grease Monkey Owns and Operates Over 300 Stores Nationwide

• Over 20 Years of Operating History as an Oil Change Business

• Low Winnebago Taxes

• Over 30,500 Vehicles Per Day Pass by the Subject Property

• Corporately Guaranteed by Grease Monkey

• Limited Competition in the Immediate Area

Long Operating History Multiple Access Points Highly Visible 100% Occupied

Page 10: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred
Page 11: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred
Page 12: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred
Page 13: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

Roscoe is a village in Winnebgao County, Illinois, a suburb of Rockford. Rockford is located along the Rock River in North Central Illinois approximately 90 miles northwest of downtown

Chicago and 17 miles south of the Wisconsin border. Rockford is the third largest city inthe State of Illinois with a population of 152,871 (2017-2018 Census Bureau estimate). The City

presently encompasses an area of approximately 61.81 square miles, up from 41 square miles in 1980.

The Rockford Housing had its best year in 2017 since the Great Recession. In 2017, the Realtor’s Association, shared a few telling numbers - 4,483 homes sold, a three-month rolling

average price of $127,791, and 86 new homes sold - each the best in five years. The Rockford housing market aslo had its largest volume of sales in 11 years and th highest average sale

price in a decade. Highlighted is the air cargo growth at the Chicago Rockford International Airport. The Airport has reported tha more than 1.3 billion pounds of cargo went through

the air hub in 2017, a nearly 50 percent increase over 2016.

Rockford is the industrial and business hub of Rock River Valley as well as North Central and Northwestern Illinois. Located just 65 miless northwest of Chicago’s O’Hare International

Airport and 90 miles east of the Mississippi River, its location allows for easy access to regional, national, and international markets. The economy is still based largely in manufacturing

and is the largest fastener product producer (screws, nuts, and bolts) in the United States. Rockford is also one of the largest machine tool centers in the world. Furniture, hardware, farm

implements, automobile parts, aviation and space instrucments and machinery are among the more than 300 types of products made in Rockford.

The City of Rockford has a mayor -aldermanic form of government that provides citizens with police, fire, building regulatino, community development, human services, public library,

water, and public works services. Rockford also serves as the seat of Winnebago County. In 1992, Rockford was one of ten communities nationwide designated as an “All-American City”

in the annual competition administered by the National Civic League. The designation is awarded to cities that promote public private partnerships to improve economic conditions and

quality of life at the local level.

A B O U T R O C K F O R D, I L L I N O I S

Page 14: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

1 Miles 3 Miles 5 MilesPOPULATION

2022 Projection 2,132 29,055 66,6222017 Estimate 1,882 25,711 61,8592010 Census 1,939 26,298 62,6662000 Census 1,418 18,991 51,729

INCOMEAverage $87,034 $89,086 $77,406Median $75,056 $72,268 $61,448Per Capita $33,106 $32,651 $28,129

HOUSEHOLDS2022 Projection 816 10,680 24,1962017 Estimate 716 9,405 22,2562010 Census 738 9,630 22,6042000 Census 518 6,788 18,583

HOUSING2017 $146,874 $156,076 $145,634

EMPLOYMENT2017 Daytime Population 1,688 20,890 52,101

2017 Unemployment 6.23% 5.07% 6.38%2017 Median Time Traveled 26 27 26

RACE & ETHNICITYWhite 92.19% 91.84% 84.31%Native American 0.00% 0.02% 0.03%African American 1.99% 2.57% 5.76%Asian/Pacific Islander 1.76% 1.80% 1.81%

DEMOGRAPHICS

Page 15: GREASE MONKEY Grayslake, Illinois · 2019-01-16 · GREASE MONKEY - NOTES • Lessee will pay the cost of repair for any damage to the roof, up to a maximum of One Thousand Five Hundred

PRESENTED BY: O F F E R I N G M E M O R A N D U M11611 MAIN STREETROSCOE, IL 61073

B R O K E R O F R E CO R D : S T E V E N W E I N S TO C K | L I C E N S E # 471011175