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Views: 37 DOM: 127 Updated: 04.22.24 Posted: 01.11.24 Status: Active

Summary

Price $2,523,000
Built/Renov 2023
Tenant Take 5 Car Wash (GL)
Cap Rate 5.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,162
Lease Start 06-16-2023
#Units 390
Price/SF $606.20
Expiration 06-30-2038
Tenant Type Automotive
NOI $135,000
R. Term 14.1
Ownership Ground Lease
Rent/SF $32.44
Increases 10.0%/5/yrs
Pop 5Mi 173,453
Lot/AC 1.03
Options 3/5yrs/10%
AHHI 5Mi $85,234

Lease Highlights

  • Brand new high quality 2023 construction
  • Take 5 Car Wash has 14+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Take 5 Car Wash is strategically located at a high traffic intersection of Sunland Park Drive/Shadow Mountain Drive and North Mesa Street, with access to 57,000 vehicles passing by daily. The prime location is surrounded by well-known national tenants such as Burlington, Harbor Freight Tools, Starbucks, Taco Bell, Goodwill, and more. Within a 15-minute drive, the site offers convenient access...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Take 5 Car Wash
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:390
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: DRVN

About Tenant

Take 5 Car Wash is the largest domestic operator of car wash sites. The chain offers exterior car wash services that utilize an automated conveyor belt to pull vehicles along a track where they...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,077 73,241 171,951
2023 Total Population : 14,872 72,592 169,892
2023 Employed Civilian Pop : 7,521 35,311 74,955
2023 Total Businesses : 768 3,069 5,350
2023 Average Household Income : $ 101,303 $ 100,646 $ 93,980
2023 Total Consumer Spending : $ 576 M $ 2641 M $ 5395 M
2023 Median Age : 38 37 36
2023 Total Households : 6,523 30,273 66,081
2023 Pop Age 25+: Bachelor's Degree : 3,219 16,007 29,855
2023 Average Home Value : $ 276,517 $ 277,914 $ 252,623
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Mesa Street Balboa Rd 2020 34,479 0.04 mi
Shadow Mountain Dr N Mesa St 2003 27,190 0.12 mi
Crown Point Dr N Mesa St 2002 1,690 0.26 mi
Thunderbird Dr Twilight Ln 2004 7,783 0.30 mi
Crestmont Dr Parkmont Pl 2006 1,394 0.32 mi
N Mesa St Crown Point Dr 2014 29,218 0.35 mi
North Mesa Street Shadow Mountain Dr 2021 30,149 0.35 mi
North Mesa Street N Mesa St 2020 43,651 0.35 mi
Vista del Rey Dr Vista Corona Ct 2005 525 0.35 mi
Balboa Rd Alcalde Ave 2005 2,245 0.45 mi

Listing Broker

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