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Views: 101 DOM: 34 Updated: 09.12.24 Posted: 08.13.24 Status: Active

Summary

Price $2,029,230
Built/Renov 2024
Tenant Take 5 Oil Change
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,372
Lease Start 09-01-2024
#Units 1
Price/SF $1,479.03
Expiration 09-01-2039
Tenant Type Automotive
NOI $131,900
R. Term 14.11
Ownership Fee Simple
Rent/SF $96.14
Increases 7.5%/5/yrs
Pop 5Mi 139,714
Lot/AC 0.98
Options 8/5yrs/7.5%
AHHI 5Mi $80,582

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 8 (5-year) options to extend
  • The lease features 7.5% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guaranteed lease

Location Description

Take 5 Oil Change is strategically located on West Springfield Avenue, with access to 17,700 vehicles passing by daily. The property is adjacent to a Big Lots-anchored center and surrounded by well-known national tenants, including 7 Brew, Jersey Mike's Subs, Starbucks, and more. Additionally, it is situated in an area with a high density of single-family homes and is only 8 minutes from the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

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 offers an average...


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Listing Broker

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