Take 5 Car Wash

15850 West Colfax Avenue, Golden, CO 80401

$5,019,000

Cap Rate 6.50%

Views: 108 Updated: 08.06.24 Posted: 10.30.23 Status: Sold

Summary

Price $5,019,000	Built/Renov 2022	Tenant Take 5 Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,556	Lease Start 01-01-2023	#Units 391
Price/SF $903.35	Expiration 12-12-2042	Tenant Type Automotive
NOI $326,203	R. Term 18.3	Ownership Fee Simple
Rent/SF $58.71	Increases 2.0%/5/yrs	Pop 5Mi 139,069
Lot/AC 1.13	Options 4/5yrs/2%	AHHI 5Mi $132,301

Lease Highlights

Take 5 Car Wash has over 18+ 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 on W. Colfax Ave., just off Interstate 70 (140,400 VPD) and U.S. Highway 40 (36,500 VPD), making this a centralized location with easy commutes. It is positioned along a dense retail corridor, within close proximity to multiple national/credit tenants including Target, Home Depot, Whole Foods, Kohl’s, Burlington, Dicks and more. Strong tenant synergy...

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Key Features

New construction
Dense retail corridor
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long 15+ yr lease
Accelerated depreciation
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Take 5 Car Wash Wikipedia Golden, Colorado Zip Code 80401 Broker Site Page

Maps

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:391
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,162	54,372	140,914
2023 Total Population :	6,878	53,287	139,069
2023 Employed Civilian Pop :	3,991	30,306	78,049
2023 Total Businesses :	665	3,666	7,080
2023 Average Household Income :	$ 121,690	$ 124,576	$ 132,301
2023 Total Consumer Spending :	$ 285 M	$ 2435 M	$ 6592 M
2023 Median Age :	40	40	43
2023 Total Households :	2,712	22,628	58,163
2023 Pop Age 25+: Bachelor's Degree :	1,614	12,495	32,566
2023 Average Home Value :	$ 662,301	$ 644,612	$ 674,182

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Moss St	I- 70 Bus	2001	1,871	0.12 mi
I- 70 Bus	Moss St	2006	20,800	0.17 mi
I 70	I- 70	2020	70,000	0.19 mi
W 8th Ave	Pike St	2011	722	0.19 mi
Pike St	I- 70 Bus	2011	668	0.20 mi
West Colfax Avenue	Poppy St	2020	16,000	0.22 mi
W 7th Ave	Lupine St	2004	1,536	0.22 mi
W 6th Ave Frontage Rd	Orchard St	2021	17,476	0.23 mi
I- 70 Bus	Mc Intyre St	2014	29,140	0.23 mi
W 8th Ave	Pike St	2011	127	0.24 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

393 Listings
32715 Views
160 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

343 Listings
29606 Views
131 Sold

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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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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