Grease Monkey Property Sold for $3M

March 8, 2023–A single-tenant property that was being leased to Grease Monkey in Monument, Colorado was sold by its original owner to a private real estate investment firm, according to a press release.

The building is located in a busy spot, “at the hard corner, signalized intersection of Colorado State Highway 105 and 2nd Street at 213 W. Highway 105 … just off Interstate 25’s 2nd Street exit, with 73,000 cars per day on Interstate 25.” The facility is also surrounded by other businesses such as 7-Eleven, Starbucks, McDonald’s, Taco Bell, and several others.

For this reason, the building was in high demand. It sold for $3,062,555, which is the highest reported purchase price for a Grease Monkey in the past three years.

The original owner of the building previously operated his own oil change and car wash business out of the 5,309-square-foot building but sold the business to Grease Monkey a few years ago. He retained the real estate and signed a lease with Grease Monkey but decided it was time to sell the property.

The seller reportedly received multiple offers within the first few weeks of putting the property up for sale. Representatives of the seller said that the site had “strong real estate” as well as the benefit of having a car wash attached to an oil change center.