Take 5 Oil Change

1114 North Main Street, Lansing, KS 66043

$1,654,000

Cap Rate 6.65%

Views: 122 DOM: 337 Updated: 09.05.24 Posted: 12.13.23 Status: Active

Summary

Price $1,654,000	Built/Renov 2023	Tenant Take 5 Oil Change
Cap Rate 6.65%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,415	Lease Start 06-01-2024	#Units 8
Price/SF $1,168.90	Expiration 05-31-2039	Tenant Type Automotive
NOI $110,000	R. Term 14.6	Ownership Fee Simple
Rent/SF $77.74	Increases 10.0%/5/yrs	Pop 5Mi 44,699
Lot/AC 0.23	Options 5/5yrs/10%	AHHI 5Mi $94,834

Lease Highlights

Brand-new 2023 construction
Take 5 Oil Change will be executing a brand-new 15-year lease with 5 (5-year) options at the 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 Driven Assets, LLC

Location Description

Take 5 Oil Change is strategically located at the signalized, hard corner intersection of Highway 73 (also known as Main St) and Eisenhower Rd, with a combined daily traffic count of 70,500 vehicles. Situated along the primary retail corridor of the city, the property is within walking distance of well-known national tenants including Home Depot, ALDI, Starbucks, Citizens Bank, QuikTrip, Club...

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Key Features

New construction
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Affluent suburb location
Brand new lease
Long 15+ yr lease
Accelerated depreciation
Personal guarantee

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Links

Take 5 Oil Change Wikipedia Lansing, Kansas Zip Code 66043 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:Driven Assets, LLC
# Units:8
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 :	5,258	25,990	44,834
2023 Total Population :	5,231	25,758	44,699
2023 Employed Civilian Pop :	2,311	11,447	19,645
2023 Total Businesses :	196	650	1,267
2023 Average Household Income :	$ 91,518	$ 102,212	$ 94,834
2023 Total Consumer Spending :	$ 121 M	$ 778 M	$ 1327 M
2023 Median Age :	40	38	39
2023 Total Households :	1,535	8,841	16,182
2023 Pop Age 25+: Bachelor's Degree :	844	3,784	6,222
2023 Average Home Value :	$ 266,702	$ 260,551	$ 246,540

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Eisenhower Rd	N Main St	2016	13,795	0.06 mi
East Eisenhower Road	N 4th St	2018	2,320	0.12 mi
S 4th St	Commercial St	2011	25,200	0.16 mi
East Eisenhower Road	N 3 St	2021	2,812	0.22 mi
North Main Street	E Carol St	2021	27,700	0.34 mi
North Main Street	Woodland Rd	2018	24,300	0.35 mi
South 4th Street	Commercial St	2018	24,300	0.40 mi
Highland Rd	Elmwood Dr	2007	573	0.47 mi
Emile St	Alleman Ln	2010	570	0.49 mi
N 8th St	Morgan St	2011	2,780	0.50 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
26869 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
27844 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

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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

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