Take 5 Car Wash (GL)

6004 North Mesa Street, El Paso, TX 79912

$2,523,000

Cap Rate 5.35%

Views: 124 Updated: 09.26.24 Posted: 01.11.24 Status: Inactive 10.10.24

Summary

Price $2,523,000	Built/Renov 2023	Tenant Take 5 Car Wash (GL)
Cap Rate 5.35%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,162	Lease Start 06-16-2023	#Units 391
Price/SF $606.20	Expiration 06-30-2038	Tenant Type Automotive
NOI $135,000	R. Term 13.6	Ownership Ground Lease
Rent/SF $32.44	Increases 10.0%/5/yrs	Pop 5Mi 173,453
Lot/AC 1.03	Options 3/5yrs/10%	AHHI 5Mi $85,234

Lease Highlights

Brand new high quality 2023 construction
Take 5 Car Wash has 13+ years remaining on the current ground lease term with 3 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Take 5 Car Wash is strategically located at a high traffic intersection of Sunland Park Drive/Shadow Mountain Drive and North Mesa Street, with access to 57,000 vehicles passing by daily. The prime location is surrounded by well-known national tenants such as Burlington, Harbor Freight Tools, Starbucks, Taco Bell, Goodwill, and more. Within a 15-minute drive, the site offers convenient access...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Income tax free state
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Take 5 Car Wash Wikipedia El Paso, Texas Zip Code 79912 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Car Wash
Guarantor:Corp T and Rated
Company:Driven Brands Holdings, Inc.
# Units:391
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,077	73,241	171,951
2023 Total Population :	14,872	72,592	169,892
2023 Employed Civilian Pop :	7,521	35,311	74,955
2023 Total Businesses :	768	3,069	5,350
2023 Average Household Income :	$ 101,303	$ 100,646	$ 93,980
2023 Total Consumer Spending :	$ 576 M	$ 2641 M	$ 5395 M
2023 Median Age :	38	37	36
2023 Total Households :	6,523	30,273	66,081
2023 Pop Age 25+: Bachelor's Degree :	3,219	16,007	29,855
2023 Average Home Value :	$ 276,517	$ 277,914	$ 252,623

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Mesa Street	Balboa Rd	2020	34,479	0.04 mi
Shadow Mountain Dr	N Mesa St	2003	27,190	0.12 mi
Crown Point Dr	N Mesa St	2002	1,690	0.26 mi
Thunderbird Dr	Twilight Ln	2004	7,783	0.30 mi
Crestmont Dr	Parkmont Pl	2006	1,394	0.32 mi
N Mesa St	Crown Point Dr	2014	29,218	0.35 mi
North Mesa Street	Shadow Mountain Dr	2021	30,149	0.35 mi
North Mesa Street	N Mesa St	2020	43,651	0.35 mi
Vista del Rey Dr	Vista Corona Ct	2005	525	0.35 mi
Balboa Rd	Alcalde Ave	2005	2,245	0.45 mi

Listing Broker

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
26136 Views
119 Sold

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
26034 Views
118 Sold

Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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