Take 5 Oil Change

2603 Mickley Avenue, Whitehall, PA 18052

$2,517,000

Cap Rate 6.75%

Views: 104 DOM: 307 Updated: 08.14.24 Posted: 01.31.24 Status: Active 05.21.24

Summary

Price $2,517,000	Built/Renov 2023	Tenant Take 5 Oil Change
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,619	Lease Start 03-15-2024	#Units 285
Price/SF $1,554.66	Expiration 03-14-2039	Tenant Type Automotive
NOI $169,900	R. Term 14.3	Ownership Fee Simple
Rent/SF $104.94	Increases 10.0%/5/yrs	Pop 5Mi 219,853
Lot/AC 0.33	Options 2/5yrs/10%	AHHI 5Mi $84,084

Lease Highlights

Brand-new 2023 construction
Take 5 Oil Change will be executing a brand-new 15-year lease with 2 (5-year) and 1 (4 year, 6 months) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Purple Square Management Co.

Location Description

Take 5 Oil Change is strategically located on MacArthur Road, offering excellent access and visibility, with access to a robust daily traffic count of 70,900 vehicles. It is near the Highway 22 / Lehigh Valley Thruway on-ramp/off-ramp (80,350 VPD). The site is an outparcel to MacArthur Commons, a shopping center anchored by DICK’S, Walmart Supercenter, GIANT, T.J. Maxx, and Burlington. It is...

...

Key Features

New construction
Build to suit
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Accelerated depreciation
Top franchise operator

...

Links

Take 5 Oil Change Wikipedia Whitehall, Pennsylvania Zip Code 18052 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:Purple Square Management Co.
# Units:285
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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,275	99,184	221,838
2023 Total Population :	9,129	98,990	219,853
2023 Employed Civilian Pop :	5,071	49,108	109,375
2023 Total Businesses :	429	3,320	7,400
2023 Average Household Income :	$ 88,477	$ 77,095	$ 84,084
2023 Total Consumer Spending :	$ 281 M	$ 2481 M	$ 6125 M
2023 Median Age :	48	38	40
2023 Total Households :	3,710	37,151	84,177
2023 Pop Age 25+: Bachelor's Degree :	1,347	9,793	26,182
2023 Average Home Value :	$ 271,731	$ 242,662	$ 266,002

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Schadt Ave	2019	2,798	0.20 mi
	Schadt Ave	2019	3,758	0.29 mi
MacArthur Road	Beryl Ave	2019	13,821	0.30 mi
MacArthur Road	Joab Rd	2021	41,650	0.30 mi
Schadt Avenue	Wolf St	2020	9,587	0.31 mi
Schadt Ave	Albert St	2017	13,114	0.39 mi
	Macarthur Rd	2019	2,943	0.40 mi
Macarthur Rd	Eberhart Rd	2017	28,263	0.48 mi
MacArthur Road	Lehigh Valley Mall	2022	16,982	0.52 mi
MacArthur Road	Macarthur Rd	2022	17,636	0.52 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
28480 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
29539 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

...

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT