111 Luther Rd Johnstown, PA 15904-2760

Property Details for 111 Luther Rd

Property type

Auto shops

APN

050 115411

APU

50115411

Description

This exceptional investment opportunity presents a 4,960 square foot Monro Auto Service and Tire Centers location in Johnstown, PA. Situated on a 0.48-acre lot at a signalized intersection with over 22,000 vehicles per day, this property boasts unparalleled visibility and accessibility. The single-story, 1989-built building is currently operating under a brand new 10-year absolute NNN lease (commencing October 1, 2024, and expiring September 30, 2034), offering a strong 9.8 years of remaining lease term. The lease includes a 10% rent increase in year five and a 1x5-year lease option. The tenant, Monro, Inc., a publicly traded company since 1991, has operated at this location for 35 years, demonstrating a long-term commitment to the site. The property generates a Net Operating Income (NOI) of $40,000, resulting in a 6.25% cap rate. The asking price is $640,000, translating to $129.03 per square foot. This location benefits from its position within a vibrant retail corridor, surrounded by national brands like McDonald's, CVS, and Taco Bell, serving a dense population with average household incomes exceeding $77,000 within a five-mile radius. This is a fee-simple ownership opportunity with minimal landlord responsibilities, offering a compelling blend of stability, strong tenant history, and significant upside potential.

Location Insight

City

Johnstown

County

Cambria

State

Pennsylvania

Longitude

-78.859

Latitude

40.4188

CBSA code

27780

CBSA name

JOHNSTOWN, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments