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Views: 79 DOM: 121 Updated: 08.28.24 Posted: 07.23.24 Status: Active

Summary

Price $1,562,500
Built/Renov 2023
Tenant Take 5 Oil Change (GL)
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,500
Lease Start 04-01-2024
#Units 17
Price/SF $1,041.67
Expiration 03-31-2039
Tenant Type Automotive
NOI $100,000
R. Term 14.4
Ownership Ground Lease
Rent/SF $66.67
Increases 10.0%/5/yrs
Pop 5Mi 103,987
Lot/AC 0.60
Options 4/5yrs/10%
AHHI 5Mi $89,431

Lease Highlights

  • New 2023 construction
  • Take 5 Oil Change recently executed a brand new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Take 5 Carolinas (17 units backed)

Location Description

Take 5 Oil Change is strategically located on Tulip Oak Drive, with access to 36,400 vehicles passing by daily. The property is situated approximately 0.4 miles from I-77 (92.6K VPD), down the street from Hampton Inn & Suites, and near a proposed Home2 Suites by Hilton. Nearby auto dealers include McDaniels Acura, McDaniels Volkswagen, and Midlands Honda. Additionally, it is also across the...

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Maps

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  • 5 Miles

Tenant

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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,019 42,419 111,617
2024 Total Population : 1,984 40,315 107,714
2024 Employed Civilian Pop : 1,166 21,078 53,926
2024 Total Businesses : 140 946 2,925
2024 Average Household Income : $ 74,318 $ 90,578 $ 97,769
2024 Total Consumer Spending : $ 66 M $ 1242 M $ 3610 M
2024 Median Age : 34 37 39
2024 Total Households : 1,010 15,540 41,893
2024 Pop Age 25+: Bachelor's Degree : 424 6,619 17,829
2024 Average Home Value : $ 277,668 $ 260,233 $ 293,378
*ESRI data is presented for informational purposes only

Listing Broker

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