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Views: 87 DOM: 142 Updated: 09.19.24 Posted: 06.03.24 Status: Sold 10.24.24

Summary

Price $1,635,000 $1,700,000
Built/Renov 2022
Tenant Take 5 Oil Change (GL)
Cap Rate 5.20% 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,431
Lease Start 08-25-2022
#Units 1,000
Price/SF $1,142.56 $1,187.98
Expiration 02-28-2034
Tenant Type Automotive
NOI $85,000
R. Term 9.2
Ownership Ground Lease
Rent/SF $59.40
Increases 10.0%/3/yrs
Pop 5Mi 267,447
Lot/AC 0.44
Options 4/5yrs/10%
AHHI 5Mi $80,474

Lease Highlights

  • New 2022 construction
  • Take 5 Oil Change has 9+ years remaining on the current ground lease term 4 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Take 5 Oil Change is strategically located at the signalized, hard corner intersection of 66th Street North and 38th Avenue North, with access to a substantial combined daily traffic count of 60,300 vehicles. The property is positioned directly across from HCA Florida Saint Petersburg Hospital and is situated on the opposite corner from a bustling Publix Supermarket. Additionally, the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Take 5 Oil Change
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:1,000
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: DRVN

About Tenant

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 offers an average...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
38th Ave N 66th St 2011 21,427 0.06 mi
43rd Ave N 66th St 2011 43,498 0.28 mi
66th Street North 31st Ter N 2022 40,000 0.45 mi
30th Ave N 65th WayN 2011 5,300 0.54 mi
46th Ave N 69th St 2011 7,125 0.65 mi
66th St 26th Ave N 2011 39,000 0.66 mi
38th Ave N 59th WayN 2011 24,610 0.73 mi
46th Avenue North 61st Ln N 2022 5,900 0.76 mi
Tyrone Boulevard North Tyrone Blvd N 2022 33,500 0.78 mi
46th Ave N 73rd St N 2011 6,000 0.85 mi

Listing Broker

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