Take 5 Oil Change (GL)

170 12th Ave SE, Norman, OK 73071

$1,000,000

Cap Rate 6.20%

$1,078,000

Cap Rate 5.75%

Views: 35 DOM: 54 Updated: 06.20.23 Posted: 04.28.23 Status: Sold 06.22.23

Summary

Price $1,000,000 $1,078,000	Built/Renov 2018	Tenant Take 5 Oil Change (GL)
Cap Rate 6.20% 5.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,600	Lease Start 03-01-2018	#Units 800
Price/SF $625.00 $673.75	Expiration 02-28-2038	Tenant Type Automotive
NOI $62,000	R. Term 12.10	Ownership Ground Lease
Rent/SF $38.75	Increases 10.0%/11/yrs	Pop 5Mi 113,840
Lot/AC 0.66	Options 4/5yrs/10%	AHHI 5Mi $76,064

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Take 5 recently extended its lease that began in 2018
Over 14 years remaining on a 20-year ground lease w/ (4) 5-year options to renew
The lease features 10% rental bumps every 5 years and in all options
Absolute NNN with zero landlord responsibilities
Corporate guarantee by Driven Systems, LLC

Location Description

Take 5 Oil Change is just off Hwy 77/12th Ave (19,000 VPD), near the signalized intersection of Alameda St (11,300 VPD) and 12th Ave. The subject property is in a dense retail corridor near several national tenants including Raising Cane's, McDonald's, Harbor Freight Tools, Dollar Tree, Walgreens, Chick-fil-A, and more. This trophy investment property benefits from its proximity to the campus...

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Key Features

Dense retail corridor
Near major nationals
Trophy location
Highway location
Dense 100M+ pop 5 mi
Top 100 MSA
Strong demographics
Recently extended lease
Traded and rated company
Corporate Guarantee

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Links

Take 5 Oil Change Wikipedia Norman, Oklahoma Zip Code 73071 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change (GL)
Guarantor:Corp T and Rated
Company:Driven Brands
# Units:800
Tenant S&P: BBB-
Moody’s: B2
Stock:NASDAQ: DRVN

About Tenant

Established in 1984, Take 5 Oil Change is an industry leading quick lube service featuring a unique drive-thru concept that allows customers to never leave the comfort of their car. The brand...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,882	84,113	118,689
2023 Total Population :	15,662	82,546	115,955
2023 Employed Civilian Pop :	8,723	42,523	59,530
2023 Total Businesses :	534	2,743	4,823
2023 Average Household Income :	$ 56,196	$ 70,036	$ 79,566
2023 Total Consumer Spending :	$ 341 M	$ 1977 M	$ 3226 M
2023 Median Age :	29	28	31
2023 Total Households :	6,871	32,288	46,626
2023 Pop Age 25+: Bachelor's Degree :	2,152	11,042	17,722
2023 Average Home Value :	$ 218,260	$ 249,796	$ 274,694

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
12th Avenue Southeast	Triad Village Dr	2019	26,900	0.11 mi
Alameda St	12th Ave SE	2014	17,038	0.13 mi
Alameda St	Triad Village Dr	2005	15,675	0.17 mi
12th Ave NE	Morren Dr	2018	26,530	0.17 mi
12th Ave SE	Triad Village Dr	2017	24,400	0.18 mi
Alameda St	Triad Village Dr	2010	16,293	0.24 mi
East Alameda Street	Villa Dr	2018	14,433	0.26 mi
Alameda St	Villa Dr	2010	14,973	0.26 mi
Sherwood Dr	Reed Ave	2002	418	0.30 mi
Alameda St	Mount Vernon Dr	2018	15,624	0.33 mi

Listing Broker

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