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Views: 180 DOM: 452 Updated: 08.06.24 Posted: 09.27.23 Status: Active

Summary

Price $1,905,000
Built/Renov 1988/2022
Tenant Take 5 Oil Change (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,575
Lease Start 10-01-2023
#Units 1,000
Price/SF $1,209.52
Expiration 09-30-2038
Tenant Type Automotive
NOI $100,000
R. Term 13.9
Ownership Ground Lease
Rent/SF $63.49
Increases 10.0%/5/yrs
Pop 5Mi 282,175
Lot/AC 0.23
Options 3/5yrs/10%
AHHI 5Mi $140,977

Lease Highlights

  • The newly-renovated building features a state-of-the-art design with high-quality materials
  • The tenant recently signed a brand new 15-year ground lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: BBB-)

Location Description

The Take 5 Oil Change is strategically located near the signalized, hard corner intersection of MacDonald Ave and 44th St, averaging a combined 15,700 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to Interstate 80, a major thoroughfare serving the state of California averaging over 217,000 VPD. The subject property is ideally situated across the street from...

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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
2028 Total Population : 30,738 167,656 281,592
2023 Total Population : 30,797 167,100 282,175
2023 Employed Civilian Pop : 15,620 83,098 144,272
2023 Total Businesses : 686 4,000 8,537
2023 Average Household Income : $ 120,194 $ 116,316 $ 140,977
2023 Total Consumer Spending : $ 1076 M $ 5552 M $ 11856 M
2023 Median Age : 38 37 39
2023 Total Households : 10,470 55,671 98,833
2023 Pop Age 25+: Bachelor's Degree : 5,053 24,185 50,344
2023 Average Home Value : $ 768,499 $ 822,028 $ 1,004,609
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Macdonald Ave 43rd St 2012 12,902 0.05 mi
I- 80 Barrett Ave 2017 211,100 0.12 mi
I 80 I- 80 2021 180,500 0.14 mi
Macdonald Ave 41st St 2013 15,703 0.15 mi
Barrett Ave I- 80 2015 2,910 0.16 mi
Barrett Ave 44th St 2015 15,940 0.17 mi
Barrett Ave I- 80 2015 15,220 0.17 mi
80 2018 169,000 0.19 mi
44th St Barrett Ave 2015 12,230 0.20 mi
Barrett Ave Wilson Ave 2015 13,720 0.21 mi

Listing Broker

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