Take 5 Oil Change

7250 Market Street, Wilmington, NC 28411

$2,332,000

Cap Rate 6.00%

Views: 102 DOM: 316 Updated: 09.05.24 Posted: 01.10.24 Status: Active

Summary

Price $2,332,000	Built/Renov 2023	Tenant Take 5 Oil Change
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,174	Lease Start 11-01-2024	#Units 56
Price/SF $1,986.37	Expiration 10-31-2039	Tenant Type Automotive
NOI $139,920	R. Term 14.11	Ownership Fee Simple
Rent/SF $119.18	Increases 10.0%/5/yrs	Pop 5Mi 89,264
Lot/AC 0.65	Options 6/5yrs/10%	AHHI 5Mi $113,704

Calvin Short

Berkeley Capital Advisors

Contact

Lease Highlights

Brand-new, state-of-the-art, 2023 construction
Take 5 Oil Change will be executing a brand new 15-year lease with 6 (5-year) options to extend upon close of escrow
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by T5 West Operations, LLC | High-growth operator

Location Description

Take 5 Oil Change is strategically located on Market Street, with access to 46,000 vehicles passing by daily. The property’s convenience is further enhanced by its proximity to Publix, Starbucks, Burger King, and more. Additionally, it stands approximately 2 miles from a major retail corridor featuring other well-known national tenants and less than 3 miles from Mayfaire, recognized as North...

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Key Features

New construction
Strategically located
Affluent AHHI $100K 5 Mi
Major MSA
New development zone
Brand new lease
Absolute NNN
Long 10+ yr lease
Personal guarantee
50+ unit franchisee backed

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Links

Take 5 Oil Change Wikipedia Wilmington, North Carolina Zip Code 28411 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:T5 West Operations, LLC
# Units:56
Tenant S&P: B+
Moody’s: B3
Stock: NASDAQ: DRVN

About Tenant

Established in 1984, 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,807	47,558	92,161
2023 Total Population :	7,717	45,715	89,198
2023 Employed Civilian Pop :	4,327	23,953	46,662
2023 Total Businesses :	227	1,983	4,922
2023 Average Household Income :	$ 115,098	$ 124,180	$ 113,724
2023 Total Consumer Spending :	$ 326 M	$ 2026 M	$ 3706 M
2023 Median Age :	39	42	39
2023 Total Households :	3,311	19,131	37,940
2023 Pop Age 25+: Bachelor's Degree :	1,948	10,664	19,478
2023 Average Home Value :	$ 393,079	$ 433,468	$ 481,059

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Market St	Wendover Ln	2011	50,780	0.02 mi
Market Street	Wendover Ln	2019	46,500	0.06 mi
Middle Sound Loop Road	Market St	2019	11,500	0.19 mi
Market Street	el Ogden Dr	2019	50,500	0.19 mi
Lendire Dr	Ogden Business Ln	2011	2,849	0.20 mi
Middle Sound Loop Rd	Market St	2011	9,058	0.22 mi
Market Street	Cape Harbor Dr	2021	48,000	0.25 mi
Market St	el Ogden Dr	2011	46,898	0.30 mi
Market Street	Brief Rd	2019	47,500	0.35 mi
Torchwood Blvd	Cauthen Way	2011	7,798	0.48 mi

Listing Broker

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