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Views: 90 DOM: 165 Updated: 10.04.24 Posted: 07.18.24 Status: Active

Summary

Price $1,048,000
Built/Renov 2024
Tenant Take 5 Oil Change (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,421
Lease Start 08-01-2024
#Units 1,000
Price/SF $737.51
Expiration 08-01-2039
Tenant Type Automotive
NOI $55,000
R. Term 14.7
Ownership Ground Lease
Rent/SF $38.71
Increases 10.0%/5/yrs
Pop 5Mi 90,285
Lot/AC 0.86
Options 4/5yrs/10%
AHHI 5Mi $123,084

Lease Highlights

  • Brand-new 2024 construction
  • New 14-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: DRVN)

Location Description

Take 5 Oil Change is strategically located at the signalized, hard corner intersection of East Ovilla Road and Hickory Creek Drive, with access to a combined daily traffic count of 20,028 vehicles. The property is positioned just 1 mile from the Google and Compass Datacenters, 1.5 miles from Red Oak High School (enrolling 2,160 students), and less than 2 miles from Texas State Technical...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Take 5 Oil Change
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:1,000
  • 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
2029 Total Population : 7,962 36,837 95,781
2024 Total Population : 7,782 36,212 93,127
2024 Employed Civilian Pop : 3,955 18,907 50,082
2024 Total Businesses : 334 871 2,003
2024 Average Household Income : $ 106,272 $ 112,823 $ 114,062
2024 Total Consumer Spending : $ 251 M $ 1188 M $ 3145 M
2024 Median Age : 35 35 37
2024 Total Households : 2,668 11,939 31,403
2024 Pop Age 25+: Bachelor's Degree : 780 4,672 12,585
2024 Average Home Value : $ 329,732 $ 320,781 $ 343,047
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Burney Ln Ovilla Rd 2009 1,540 0.16 mi
Sunflower Sunflower St 2004 160 0.33 mi
Ovilla Rd Harris Ave 2012 24,000 0.33 mi
East Ovilla Road Harris Ave 2022 27,198 0.38 mi
I- 35 Norton 2004 7,119 0.51 mi
I- 35 Ovilla Rd 2004 2,387 0.52 mi
Methodist St Hawk Ave 2009 3,470 0.52 mi
S Industrial Blvd Roxy Ln 2004 2,651 0.53 mi
N Industrial Blvd Norton 2004 3,660 0.55 mi
N Commercial Blvd Augusta 2004 2,545 0.56 mi

Listing Broker

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