Uncle Ed's Oil Shoppe
Farmington Hills, MI
Key Details
| Price: | $1,213,338 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $78,867 |
| Address: | 24086 Middlebelt Road, Farmington Hills, Michigan 48336 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 5/20/2021 |
| Lease Expiration: | 3/31/2041 |
| Lease Term Remaining: | 15.9 Years |
| Rental Increases: | 1.60% Annually |
| Lot Size: | 0.52 Acres |
| Building Size: | 1,750 SF |
| Year Built: | 1985 |
NNN Pro is pleased to present the exclusive listing for a Uncle Ed's Oil Shoppe located at 24086 Middlebelt Road, Farmington Hills, Michigan 48336. The site consists of roughly 1750 rentable square feet of building space on an estimated 0.52-acre parcel of land. This Uncle Ed's Oil Shoppe is subject to a 19-year Triple Net (NNN) lease, which commenced 5/20/2021. The current annual rent is $78,867 and has scheduled increases of 1.60% Annually.
About the Investment
- Established Automotive Service Brand | Uncle Ed’s Oil Shoppe is a well-recognized quick-lube and automotive services operator with a strong regional presence in Michigan. The tenant benefits from high brand awareness and a loyal customer base, supported by a trusted track record of fast, professional service.
- Corporate Guarantee from FullSpeed Automotive | The lease is backed by a corporate guaranty from FullSpeed Automotive, a nationwide automotive service platform with over 900 units under multiple service brands, significantly reducing risk for investors.
- Long-Term, Passive Lease Structure | This 20-year triple-net (NNN) lease structure provides for a fully passive investment with zero landlord responsibilities. The lease commenced in 2021, leaving over 16 years of secure term remaining.
- Built-In Rental Escalations | The lease includes 1.60% annual rental increases throughout the term and options, providing a hedge against inflation and reliable income growth.
Key Details
| Price: | $1,213,338 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $78,867 |
| Address: | 24086 Middlebelt Road, Farmington Hills, Michigan 48336 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 5/20/2021 |
| Lease Expiration: | 3/31/2041 |
| Lease Term Remaining: | 15.9 Years |
| Rental Increases: | 1.60% Annually |
| Lot Size: | 0.52 Acres |
| Building Size: | 1,750 SF |
| Year Built: | 1985 |
Talk to the Pros
Kyle Karsian
kkarsian@nnnpro.com
License: NY: 10401321452
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Broker of Record
Brian Brockman
Bang Realty-Michigan, Inc
License: 6502428679
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.