Take 5 Oil Change (GL)

1851 State Road, Summerville, SC 29486

$1,431,000

Cap Rate 6.00%

Views: 83 Updated: 05.20.24 Posted: 02.16.24 Status: Inactive 10.03.24

Summary

Price $1,431,000	Built/Renov 2023	Tenant Take 5 Oil Change (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,425	Lease Start 11-01-2023	#Units 14
Price/SF $1,004.21	Expiration 11-01-2038	Tenant Type Automotive
NOI $85,869	R. Term 13.10	Ownership Fee Simple
Rent/SF $60.26	Increases 10.0%/4/yrs	Pop 5Mi 47,590
Lot/AC 0.67	Options 3/5yrs/10%	AHHI 5Mi $104,044

Lease Highlights

Brand new 2023 construction
Take 5 Oil Change recently executed a brand new 15-year lease with 3 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by ClayCon Cane Bay, LLC

Location Description

Take 5 Oil Change is strategically located on State Road/US Highway 176, with access to a daily traffic flow of 19,000 vehicles. The property serves as an outparcel to Nexton, a master-planned community featuring 120 shops, eateries, offices, and over 2,000 brand-new homes. The immediate area is supported by well-known national retailers including Chick-fil-A, Starbucks, and Publix....

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Key Features

New construction
Build to suit
Dense retail corridor
Shopping Ctr out-parcel
Highway location
Strong tenant synergy
Top 100 MSA
Affluent AHHI $100K 5 Mi
Accelerated depreciation
Personal guarantee

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Links

Take 5 Oil Change Wikipedia Summerville, South Carolina Zip Code 29486 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:ClayCon Cane Bay, LLC
# Units:14
Tenant S&P: B+
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 :	5,374	23,688	51,862
2023 Total Population :	4,914	21,862	47,307
2023 Employed Civilian Pop :	2,261	9,947	21,927
2023 Total Businesses :	54	142	702
2023 Average Household Income :	$ 119,340	$ 110,718	$ 103,941
2023 Total Consumer Spending :	$ 158 M	$ 739 M	$ 1577 M
2023 Median Age :	44	44	41
2023 Total Households :	1,528	7,676	17,407
2023 Pop Age 25+: Bachelor's Degree :	1,003	3,964	7,353
2023 Average Home Value :	$ 360,214	$ 352,999	$ 339,822

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Rd	Old Winter Rd	2018	7,500	1.13 mi
State Road	Domingo Dr	2022	19,000	2.56 mi
Jedburg Rd	Droze Ln	2010	5,400	2.83 mi
Black Tom Rd	Stephens Hill Ln	2018	2,500	2.90 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23333 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30186 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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