Take 5 Car Wash

6315 Sheridan Boulevard, Arvada, CO 80003

$4,802,000

Cap Rate 6.50%

Views: 147 DOM: 419 Updated: 09.12.24 Posted: 10.30.23 Status: Active

Summary

Price $4,802,000	Built/Renov 2007	Tenant Take 5 Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,357	Lease Start 01-01-2023	#Units 391
Price/SF $755.39	Expiration 12-28-2042	Tenant Type Automotive
NOI $312,130	R. Term 18.0	Ownership Fee Simple
Rent/SF $52.10	Increases 2.0%/5/yrs	Pop 5Mi 376,560
Lot/AC 1.10	Options 4/5yrs/2%	AHHI 5Mi $114,887

Lease Highlights

Take 5 Car Wash has 19+ 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 ideally positioned near the signalized, hard corner intersection of Sheridan Blvd. and West 64th Ave., which see a combined traffic count of over 64,000 vehicles per day. Take 5 Car Wash benefits from nearby access to Interstate 70 (90,000 VPD), making this a centralized location with easy commutes. Located in a dense retail corridor, the site is within proximity of multiple...

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Key Features

Build to suit
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Strong demographics
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 Arvada, Colorado Zip Code 80003 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 :	11,154	133,194	384,915
2023 Total Population :	11,258	133,648	376,560
2023 Employed Civilian Pop :	5,878	74,485	219,658
2023 Total Businesses :	432	4,676	14,577
2023 Average Household Income :	$ 104,880	$ 102,785	$ 114,887
2023 Total Consumer Spending :	$ 376 M	$ 4864 M	$ 16089 M
2023 Median Age :	41	39	38
2023 Total Households :	4,192	54,721	161,883
2023 Pop Age 25+: Bachelor's Degree :	2,039	23,707	76,965
2023 Average Home Value :	$ 546,470	$ 568,048	$ 567,815

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Sheridan Blvd	W 64th Ave	2009	41,108	0.05 mi
Zenobia St	W 65th Ave	2022	35,493	0.18 mi
Sheridan Blvd	W 62nd Ave	2006	48,000	0.19 mi
Sheridan Blvd	W 64th Ave	2014	34,000	0.20 mi
Sheridan Boulevard	W 64th Ave	2019	42,376	0.24 mi
Sheridan Blvd	W 65th Ave	2013	32,000	0.25 mi
Sheridan Blvd	W 65th Ave	2006	36,700	0.33 mi
Sheridan Boulevard	Wellington Pkwy	2020	35,000	0.33 mi
Sheridan Boulevard	W 53rd Ave	2021	38,885	0.41 mi
Sheridan Blvd	W 60th Ave	2016	47,510	0.53 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
50893 Views
165 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
46461 Views
137 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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