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Views: 84 Updated: 05.14.24 Posted: 11.09.23 Status: Inactive 05.14.24

Summary

Price $5,095,753
Built/Renov 2015
Tenant Take 5 Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,383
Lease Start 12-27-2022
#Units 390
Price/SF $946.64
Expiration 12-27-2041
Tenant Type Automotive
NOI $331,224
R. Term 17.1
Ownership Fee Simple
Rent/SF $61.53
Increases 2.0%/1/yrs
Pop 5Mi 56,798
Lot/AC 1.15
Options 4/5yrs/2%
AHHI 5Mi $74,721

Lease Highlights

  • Take 5 Car Wash has 17+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 2% annual rental increases
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Take 5 Car Wash is strategically located on Jake Alexander Blvd, with access to 35,000 vehicles passing by daily. The location is conveniently surrounded by other well-known national tenants, including Aldi, Harris Teeter, Food Lion, Zaxby’s, Jiffy Lube, Planet Fitness, and more. The 5-mile trade area is supported by a population of 56,798 residents, with an average household income of 74,721....

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Maps

  • 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 : 5,522 35,241 59,084
2023 Total Population : 5,589 34,842 58,178
2023 Employed Civilian Pop : 2,416 15,365 25,445
2023 Total Businesses : 209 1,927 2,490
2023 Average Household Income : $ 57,780 $ 75,395 $ 77,931
2023 Total Consumer Spending : $ 114 M $ 911 M $ 1570 M
2023 Median Age : 30 38 40
2023 Total Households : 2,255 13,769 22,969
2023 Pop Age 25+: Bachelor's Degree : 415 4,034 6,689
2023 Average Home Value : $ 196,933 $ 246,709 $ 241,585
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Brenner Ave Jake Alexander Blvd W 2018 13,000 0.15 mi
Jake Alexander Boulevard West Industrial Ave 2021 34,500 0.21 mi
US 70-601 Lincolnton Rd 2020 32,500 0.21 mi
Jake Alexander Blvd W Harrison Rd 2018 30,000 0.22 mi
Jake Alexander Blvd W Harrison Rd 2015 27,000 0.45 mi
Lincolnton Rd Demco Dr 2018 7,200 0.47 mi
Jake Alexander Boulevard West Maupin Ave 2021 33,000 0.50 mi
Jake Alexander Blvd W Mooresville Rd 2016 34,000 0.53 mi
Harrison Rd Jake Alexander Blvd W 2018 7,100 0.54 mi
Brenner Ave Hall St 2018 12,500 0.54 mi

Listing Broker

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