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Take 5 Oil Change (GL)

3801 66th Street North, St. Petersburg, FL 33709

$1,700,000

Cap Rate 5.00%

Views: 62 DOM: 105 Updated: 08.12.24 Posted: 06.03.24 Status: Active

Summary

Price $1,700,000
Built/Renov 2022
Tenant Take 5 Oil Change (GL)
Cap Rate 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 $1,187.98
Expiration 02-28-2034
Tenant Type Automotive
NOI $85,000
R. Term 9.5
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

Ronnie Issenberg
Marcus & Millichap
Contact

Gabriel Britti
Marcus & Millichap
Contact

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 escalations throughout the initial term and option periods
  • Absolute NNN | 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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Key Features

  • New construction

  • Signalized intersection

  • High traffic 50M+ VPD

  • Dense retail corridor

  • Top 100 MSA

  • Income tax free state

  • Absolute NNN

  • Accelerated depreciation

  • Traded and rated company

  • Corporate Guarantee

    • ...

Links

Take 5 Oil Change Wikipedia St. Petersburg, Florida Zip Code 33709 Broker Site Page

Documents

Download OM

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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Listing Broker

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