Take 5 Oil Change

16912 East 23rd Street South, Independence, MO 64057

$1,654,135

Cap Rate 6.65%

Views: 80 DOM: 67 Updated: 08.06.24 Posted: 07.10.24 Status: Active

Summary

Price $1,654,135	Built/Renov 2024	Tenant Take 5 Oil Change
Cap Rate 6.65%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,415	Lease Start 08-01-2024	#Units 8
Price/SF $1,169.00	Expiration 07-31-2039	Tenant Type Automotive
NOI $110,000	R. Term 14.10	Ownership Fee Simple
Rent/SF $77.74	Increases 10.0%/5/yrs	Pop 5Mi 148,047
Lot/AC 1.71	Options 5/5yrs/10%	AHHI 5Mi $81,764

Randy Blankstein

The Boulder Group (HQ)

Contact

Lease Highlights

Brand-new 2024 construction
Brand-new 15-year sale-leaseback with 5 (5-year) options to extend
The lease features 10% rental escalation throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Driven Assets, LLC ( 8 units backed)

Location Description

Take 5 Oil Change is strategically located at the signalized, hard corner intersection of East 23rd Street and State Route 29, with access to a robust combined daily traffic count of 67,439 vehicles. The property is surrounded by well-known national tenants including Sonic, Dollar General, Advance Auto Parts, Scooters, Seven Brew, and more. The 5-mile trade area is supported by a population of...

...

Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Accelerated depreciation
Personal guarantee

...

Links

Take 5 Oil Change Wikipedia Independence, Missouri Zip Code 64057 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:Driven Assets, LLC
# Units:8
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...

...

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT