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Views: 91 Updated: 03.26.24 Posted: 10.30.23 Status: Inactive

Summary

Price $4,671,000
Built/Renov 2006
Tenant Take 5 Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,376
Lease Start 01-01-2023
#Units 390
Price/SF $868.86
Expiration 12-28-2042
Tenant Type Automotive
NOI $303,622
R. Term 18.0
Ownership Fee Simple
Rent/SF $56.48
Increases 2.0%/5/yrs
Pop 5Mi 37,205
Lot/AC 1.02
Options 4/5yrs/2%
AHHI 5Mi $129,179

Lease Highlights

  • Take 5 Car Wash has 19+ years remaining with 4 (5-year) options to extend
  • The lease features 2% annual rental increases starting in Jan 2029 and continuing through option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed by Driven Brands (NASDAQ: DRVN)

Location Description

Take 5 Car Wash is strategically located along State Highway 20 with clear visibility and access to an average of 42,000 vehicles passing daily. The property further benefits from direct access onto SH-293 (23,500 VPD). The site neighbors Bluewater Bay, a 66K+ SF neighborhood center anchored by Winn-Dixie, and is surrounded by many national tenants including Walgreens, CVS Pharmacy, Dollar...

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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 : 7,120 20,743 38,355
2023 Total Population : 7,000 20,126 37,205
2023 Employed Civilian Pop : 3,185 9,956 18,616
2023 Total Businesses : 282 475 1,070
2023 Average Household Income : $ 131,236 $ 138,666 $ 129,179
2023 Total Consumer Spending : $ 298 M $ 902 M $ 1591 M
2023 Median Age : 48 48 47
2023 Total Households : 2,701 7,737 14,522
2023 Pop Age 25+: Bachelor's Degree : 1,600 4,087 7,067
2023 Average Home Value : $ 434,895 $ 469,270 $ 451,207
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
John Sims Parkway Ansley Dr 2022 31,500 0.21 mi
John Sims Parkway Peter Kuth Dr 2021 31,500 0.21 mi
John Sims Pky Jerry Zivan Dr 2005 32,000 0.33 mi
John Sims Parkway John Sims Pkwy 2022 25,000 0.61 mi
Range Rd 2022 500 0.77 mi
State Hwy 293 2022 550 0.84 mi
Pine St 2022 400 0.87 mi
Mid-Bay Brg Con 2022 350 0.89 mi
White Point Road Samana Way 2022 5,100 0.90 mi
White Point Road Brookhaven Way 2021 5,200 0.90 mi

Listing Broker

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