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Views: 110 DOM: 263 Updated: 09.05.24 Posted: 12.29.23 Status: Active

Summary

Price $2,458,000
Built/Renov 2022
Tenant Take 5 Oil Change
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,438
Lease Start 06-01-2024
#Units 56
Price/SF $1,709.32
Expiration 05-31-2039
Tenant Type Automotive
NOI $147,450
R. Term 14.8
Ownership Fee Simple
Rent/SF $102.54
Increases 10.0%/5/yrs
Pop 5Mi 306,278
Lot/AC 0.33
Options 6/5yrs/10%
AHHI 5Mi $82,932

Lease Highlights

  • New 2022 construction
  • Take 5 Oil Change will be signing a brand-new 15-year lease with 6 (5-year) options at the close of escrow
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by T5 West Operations, LLC

Location Description

Take 5 Oil Change is strategically located on Menaul Blvd, with excellent visibility and access to 34,000 vehicles passing by daily. Within a convenient distance of less than half a mile lies Coronado Center, an enclosed shopping mall featuring 140 retail tenants and restaurants, anchored by well-known national brands and Round 1 Bowling. The location is also in proximity to the I-40 exit and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 13,254 119,592 300,305
2023 Total Population : 13,164 121,703 306,278
2023 Employed Civilian Pop : 6,305 58,134 146,322
2023 Total Businesses : 1,465 8,167 17,194
2023 Average Household Income : $ 73,915 $ 78,131 $ 82,932
2023 Total Consumer Spending : $ 390 M $ 3875 M $ 10172 M
2023 Median Age : 41 38 39
2023 Total Households : 6,092 56,898 141,088
2023 Pop Age 25+: Bachelor's Degree : 1,715 18,277 46,660
2023 Average Home Value : $ 279,098 $ 295,282 $ 295,235
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
FL-4046-P Menaul Blvd NE 2021 25,489 0.09 mi
Menaul Blvd NE Alvarado Dr NE 2017 31,300 0.09 mi
Menaul Boulevard Northeast Dakota St NE 2022 26,075 0.11 mi
Alvarado Drive Northeast Menaul Blvd NE 2018 3,192 0.11 mi
San Mateo Boulevard Northeast 2018 29,392 0.15 mi
San Mateo Boulevard Northeast 2018 31,930 0.15 mi
Menaul Boulevard Northeast 2018 27,808 0.16 mi
Menaul Boulevard Northeast 2018 25,302 0.19 mi
FL-5096-P Prospect Ave NE 2021 29,675 0.19 mi
San Mateo Boulevard Northeast Prospect Ave NE 2022 30,358 0.19 mi

Listing Broker

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