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Views: 68 DOM: 115 Updated: 11.25.24 Posted: 08.28.24 Status: Active

Summary

Price $5,299,000
Built/Renov 2020
Tenant Take 5 Car Wash
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,600
Lease Start 01-01-2023
#Units 391
Price/SF $1,471.94
Expiration 12-28-2042
Tenant Type Automotive
NOI $331,224
R. Term 18.0
Ownership Fee Simple
Rent/SF $92.01
Increases 2.0%/1/yrs
Pop 5Mi 176,086
Lot/AC 0.94
Options 4/5yrs/2%
AHHI 5Mi $165,030

Lease Highlights

  • Take 5 Car Wash has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental increases starting in Jan. 2029 of the inital term and continuing throughout the term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease by Driven Brands, Inc.

Location Description

Take 5 Car Wash is located at a signalized, hard corner intersection of Alpharetta Highway and Hembree Road, with access to a combined daily traffic count of 43,500 vehicles. The property benefits from direct on/off ramp access to U.S. Highway 19, a major thoroughfare that sees 157,000 VPD. This prime location is situated in a dense retail corridor with well-known national tenants, including...

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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:391
  • Tenant S&P: B+
  • 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 : 6,380 71,110 175,397
2023 Total Population : 6,303 71,118 176,086
2023 Employed Civilian Pop : 3,587 37,373 94,593
2023 Total Businesses : 815 6,132 9,959
2023 Average Household Income : $ 167,222 $ 158,629 $ 165,030
2023 Total Consumer Spending : $ 355 M $ 3885 M $ 9619 M
2023 Median Age : 37 37 39
2023 Total Households : 2,491 28,706 68,713
2023 Pop Age 25+: Bachelor's Degree : 1,741 19,159 50,228
2023 Average Home Value : $ 390,308 $ 489,550 $ 511,259
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hembree Rd Surburban Lodge 2004 8,660 0.04 mi
Park Terrace Hembree Rd 2021 110 0.08 mi
Park Terrace Hembree Rd 2019 100 0.08 mi
Alpharetta Hwy Hospital Blvd 2014 23,129 0.23 mi
Hembree Rd Hembree Pkwy 2013 11,270 0.28 mi
Hembree Rd Streamside Dr 2010 7,179 0.32 mi
Hembree Road Hospital Blvd 2018 13,900 0.42 mi
Hembree Road 2019 14,000 0.42 mi
Hembree Road Upper Hembree Rd 2021 13,900 0.42 mi
Upper Hembree Rd Harris Rd 2007 4,910 0.46 mi

Listing Broker

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