Take 5 Car Wash

13489 Cortez Boulevard, Brooksville, FL 34613

$5,096,000

Cap Rate 6.50%

Updated: 03.26.24 Posted: 10.30.23 Status: Inactive

Summary

Price $5,096,000	Built/Renov 2017	Tenant Take 5 Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,538	Lease Start 01-01-2023	#Units 390
Price/SF $920.19	Expiration 12-28-2042	Tenant Type Automotive
NOI $331,224	R. Term 17.8	Ownership Fee Simple
Rent/SF $59.81	Increases 2.0%/5/yrs	Pop 5Mi 79,814
Lot/AC 1.15	Options 4/5yrs/2%	AHHI 5Mi $81,531

Lease Highlights

Take 5 Car Wash has 19+ years of primary term remaining with 4 (5-year) renewal options
Lease features 2% annual rental increase starting year 6 continuing throughout initial term and options
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed by Driven Brands (NASDAQ: DRVN)

Location Description

Take 5 Car Wash is strategically located along Cortez Boulevard with an average of 42,000 vehicles passing by daily. The asset benefits from nearby access onto State Highway 589 (13,900 VPD), providing direct access into downtown Tampa and connecting the MSA. The subject property is within direct proximity to Western Way (160K+ SF), Coastal Way (251K+ SF), Mariner Square (285K+ SF), and other...

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Key Features

Build to suit
Dense retail corridor
Highway location
Top 100 MSA
Income tax free state
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Traded and rated company
Corporate Guarantee

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Links

Take 5 Car Wash Wikipedia Brooksville, Florida Zip Code 34613 Broker Site Page

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Local Information

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 :	3,254	33,369	82,231
2023 Total Population :	3,220	32,384	79,814
2023 Employed Civilian Pop :	855	12,142	32,803
2023 Total Businesses :	344	935	2,444
2023 Average Household Income :	$ 69,974	$ 80,795	$ 81,531
2023 Total Consumer Spending :	$ 97 M	$ 951 M	$ 2261 M
2023 Median Age :	63	53	49
2023 Total Households :	1,597	13,473	31,663
2023 Pop Age 25+: Bachelor's Degree :	319	3,629	8,465
2023 Average Home Value :	$ 174,046	$ 245,840	$ 268,030

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
FL 50	Cortez Blvd	2021	42,000	0.21 mi
Cortez Boulevard	Grove Rd	2022	44,000	0.21 mi
Cortez Blvd	Barclay Ave	2010	33,000	0.40 mi
Cortez Blvd	Chambord St	2011	38,000	0.42 mi
Jacqueline Rd	Jayson Dr	2010	2,707	0.63 mi
Mariner Blvd	Cortez Blvd	2010	20,495	0.81 mi
Cortez Blvd	Mariner Blvd	2010	35,500	0.87 mi
Sunshine Grove Rd	Montour St	2008	10,765	0.90 mi
Cortez Blvd	Grove Rd	2011	32,000	1.02 mi
Suncoast Pkwy	Cortez Blvd	2018	500	1.12 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

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369 Listings
71705 Views
170 Sold

Patrick Luther

SRS National Net Lease Group

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420 Listings
78760 Views
202 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Patrick Nutt

SRS National Net Lease Group

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262 Listings
47758 Views
116 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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