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Views: 68 Updated: 05.14.24 Posted: 11.09.23 Status: Inactive 05.14.24

Summary

Price $5,095,753
Built/Renov 2019
Tenant Take 5 Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,163
Lease Start 12-27-2022
#Units 390
Price/SF $986.98
Expiration 12-27-2041
Tenant Type Automotive
NOI $331,224
R. Term 17.0
Ownership Fee Simple
Rent/SF $64.15
Increases 2.0%/1/yrs
Pop 5Mi 100,726
Lot/AC 1.53
Options 4/5yrs/2%
AHHI 5Mi $88,377

Lease Highlights

  • Take 5 Car Wash has 18+ 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 at the hard corner intersection of N Main Street and Old Plank Road, with access to a combined daily traffic count of 15,800 vehicles. The property serves as an outparcel to a center anchored by Aldi. Additionally, it benefits from a convenient location in close proximity to other national tenants, including Walmart Supercenter, Chick-fil-A, Lowe’s,...

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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 : 6,192 38,767 105,453
2023 Total Population : 6,301 39,183 104,294
2023 Employed Civilian Pop : 3,097 19,219 46,756
2023 Total Businesses : 156 1,323 3,542
2023 Average Household Income : $ 71,404 $ 88,052 $ 86,473
2023 Total Consumer Spending : $ 165 M $ 1237 M $ 3043 M
2023 Median Age : 39 41 39
2023 Total Households : 2,665 16,241 40,607
2023 Pop Age 25+: Bachelor's Degree : 1,037 7,385 17,789
2023 Average Home Value : $ 225,349 $ 266,395 $ 261,403
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Brookridge Ln 2021 9,400 0.03 mi
North Main Street Hedgecock Rd 2019 9,500 0.07 mi
Hedgecock Road N Main St 2019 2,700 0.09 mi
Brookridge Ln 2021 6,800 0.10 mi
Asbill Ave 2021 15,500 0.16 mi
Old Plank Rd 2021 6,000 0.24 mi
Old Plank Rd 2021 5,900 0.26 mi
North Main Street E Bellevue Dr 2021 26,000 0.35 mi
Courtland St 2021 5,500 0.36 mi
N Main St 2021 4,400 0.45 mi

Listing Broker

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