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Updated: 06.10.24 Posted: 05.18.23 Status: Sold

Summary

Price $1,898,000
Built/Renov 2023
Tenant Take 5 Oil Change (GL)
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,438
Lease Start 02-18-2025
#Units 8
Price/SF $1,319.89
Expiration 02-19-2038
Tenant Type Automotive
NOI $116,721
R. Term 12.9
Ownership Ground Lease
Rent/SF $81.17
Increases 10.0%/5/yrs
Pop 5Mi 114,346
Lot/AC 0.80
Options 3/5yrs/10%
AHHI 5Mi $84,032

Lease Highlights

  • Brand new construction which includes high quality materials, distinct design elements, and state-of-the-art oil change features
  • Brand new 15-year ground lease with 3 (5-year) options to extend
  • The franchisee signed lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Operated by Claycon Oil, LLC. an experienced 8-unit operator

Location Description

This newly constructed Take 5 Oil Change is strategically fronting Dorchester Road averaging 42,800 VPD. Dorchester Road is the primary thoroughfare serving the city of North Charleston with surrounding big box retailers such as Walmart Supercenter, Harris Teeter, Publix, Lowe’s, and more. The asset has excellent visibility and multiple points of access, providing ease and convenience for...

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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 : 10,621 50,456 118,901
2023 Total Population : 10,507 48,626 115,122
2023 Employed Civilian Pop : 5,852 25,437 58,115
2023 Total Businesses : 340 1,304 3,565
2023 Average Household Income : $ 103,645 $ 106,429 $ 87,913
2023 Total Consumer Spending : $ 346 M $ 1723 M $ 3490 M
2023 Median Age : 35 35 34
2023 Total Households : 3,896 18,788 45,667
2023 Pop Age 25+: Bachelor's Degree : 1,394 7,621 16,086
2023 Average Home Value : $ 303,935 $ 307,423 $ 274,344
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Ashley Phosphate Rd Saddlebrook Dr 2018 36,300 0.69 mi
Ashley Phosphate Road University Dr 2021 33,900 0.85 mi
Ashley Phosphate Road Peppercorn Ln 2021 41,100 2.21 mi
Ashley River Rd Magnolia Plantation Rd 2015 13,400 2.25 mi
Cross County Road Bryhawke Cir 2021 13,700 2.36 mi
Cross County Rd N American St 2018 15,900 2.41 mi
Dorchester Rd Country Club Ln 2018 39,700 2.63 mi
Patriot Boulevard Future Dr 2021 16,700 3.00 mi

Listing Broker

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