Take 5 Oil Change

3806 Broadway Street, Mount Vernon, IL 62864

$2,000,000

Cap Rate 6.25%

Views: 291 DOM: 227 Updated: 11.20.24 Posted: 05.08.24 Status: Active

Summary

Price $2,000,000	Built/Renov 2022	Tenant Take 5 Oil Change
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,627	Lease Start 12-01-2024	#Units 16
Price/SF $1,229.26	Expiration 11-30-2039	Tenant Type Automotive
NOI $125,000	R. Term 14.11	Ownership Fee Simple
Rent/SF $76.83	Increases 7.5%/5/yrs	Pop 5Mi 19,235
Lot/AC 0.75	Options 8/5yrs/7.5%	AHHI 5Mi $73,556

Lease Highlights

Take 5 Oil Change will be executing a brand new 15-year lease term with 8 (5-year) options to extend upon close of escrow
The lease features 7.5% rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by TVOC Illinois LLC (16 units backed)
Franchisee has 5 additional units in pre-construction or under construction and a 44-unit development agreement with Take 5 Oil Change

Location Description

Take 5 Oil Change is strategically located on Broadway Street, with access to 22,530 vehicles passing by daily. The property is situated directly across the street from Times Square Mall, a shopping center anchored by well-known national tenants. The location is also in proximity to Crossroads Community Hospital, and within walking distance to I-57, which sees 43,100 VPD. Additionally, it is...

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Key Features

New construction
Signalized intersection
Build to suit
Dense retail corridor
Near major nationals
Brand new lease
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Personal guarantee

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Links

Take 5 Oil Change Wikipedia Mount Vernon, Illinois Zip Code 62864 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:TVOC Illinois LLC
# Units:16
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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,524	14,608	18,958
2023 Total Population :	4,603	14,806	19,235
2023 Employed Civilian Pop :	2,073	6,199	8,365
2023 Total Businesses :	365	1,118	1,224
2023 Average Household Income :	$ 74,325	$ 71,582	$ 73,556
2023 Total Consumer Spending :	$ 147 M	$ 406 M	$ 534 M
2023 Median Age :	47	41	42
2023 Total Households :	2,280	6,459	8,277
2023 Pop Age 25+: Bachelor's Degree :	606	1,398	1,948
2023 Average Home Value :	$ 153,312	$ 131,541	$ 138,307

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Crown Vw	Broadway St	2011	450	0.02 mi
Broadway St	Crown Vw	2005	24,500	0.05 mi
Crownview	Crown Vw	2011	225	0.10 mi
Sunset Dr	Broadway St	2011	250	0.11 mi
Westwood Dr	Broadway St	2011	550	0.15 mi
Broadway St	Westwood Dr	2013	23,600	0.16 mi
S 42nd St	Rose Ln	2011	6,400	0.21 mi
S 42nd St	Times Square Mall	2011	9,100	0.22 mi
Broadway St	S 34th St	2005	24,500	0.24 mi
S 34th St	Tamison Estate	2001	7,200	0.27 mi

Listing Broker

Gary Chou

Berkeley Capital Advisors

Contact

34 Listings
6139 Views
0 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30116 Views
21 Sold

Gary Chou

With nearly a decade of experience in commercial real estate sales, Gary Chou leads Berkeley Capital Advisors’ West Coast office with a focus on Single Tenant Net Lease, Net Lease Portfolios, and Corporate Sale Leasebacks. Having brokered over 1,300 transactions totaling $3.5 billion, he and his team are highly regarded as one of the most active brokerage teams in the country and serve some of the world’s largest corporate companies, public and private REITs, private equity funds, developers, f

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31252 Views
23 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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