About the Investment

• Brand New 20-Year Absolute Triple Net Sale-Leaseback with 10% Increases Every 5 Years | This Meineke is subject to a 20-year sale-leaseback upon close of escrow with zero landlord responsibilities. Additionally, the lease is subject to 10% rental increases every 5 years, increasing the NOI to north of 33% over the 20-year term.
• Booming Market Between Austin, TX and San Antonio, TX | This Meineke is equidistant between Austin and San Antonio, two of the five largest cities in Texas. The property benefits greatly from its access to a massive customer base and increased visibility due to its proximity to major highways. Because of this centralized location, local tenants are thriving. Notably, the Whataburger located just half a mile down the street is the #1 store in the chain nationwide, out of 962 locations, based on visits according to Placer.ai, exemplifying the exceptional location of this Meineke.
• Exponential Population Growth in Surrounding Area | The population growth within the area is rapidly rising and is projected to increase exponentially. Specifically, within 10 miles of the property, there was a 4.10% population growth since 2020 and over the next five years, the population is expected to increase by another 6% and 5.80% within 3 and 10 miles, respectively.
• Ideal Consumer Base for Vehicle Repair Services that Meineke Offers | There are over 114,000 individuals with an average household income of over $74,100 living within 10 miles of the subject property. This is an ideal local consumer base as it lends well to Meineke's services of extending the life of one's vehicle. The average age of vehicles across the US is 12.6 years and continues to rise at a steady pace according to S&P Global Mobility, leading more owners to utilize local repair shops instead of car dealerships.
• Meineke Has Been Successfully Operating Since 1972 | Meineke Car Care is a nationally recognized brand with over 966 locations nationwide. Meineke offers a wide range of services including preventative maintenance and car repair services.
• Operated by PARC Auto, Which is Driven Brand Inc's Largest Meineke Franchisee in the Nation | The current portfolio is comprised of 40 shops, operating in 7 different states (KY, IN, FL, TX, OR, WA, and TN) with plans to expand to 50 operational shops by the end of 2025 and 75 by the end of 2026.