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DOM: 68 Updated: 01.29.24 Posted: 11.03.23 Status: Sold 01.10.24

Summary

Price $4,519,971 $4,867,662
Built/Renov 2020
Tenant Take 5 Car Wash
Cap Rate 7.00% 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,060
Lease Start 12-29-2022
#Units 390
Price/SF $1,113.29 $1,198.93
Expiration 12-28-2042
Tenant Type Automotive
NOI $316,398
R. Term 17.7
Ownership Fee Simple
Rent/SF $77.93
Increases 2.0%/6/yrs
Pop 5Mi 77,561
Lot/AC 1.11
Options 0/0yrs
AHHI 5Mi $131,281

Lease Highlights

  • Take 5 Car Wash has 18+ years remaining on the current lease term
  • Lease features 2% annual rental increases starting 2029
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Driven Brands Holdings, Inc. (NASDAQ: DRVN)

Location Description

Take 5 Car Wash is strategically located on State Road 54, with access to 62,000 vehicles passing by daily. The property is conveniently located just a short drive away from prominent educational institutions, including Rasmussen University, Trinity College, and Florida College of Health Sciences. In the vicinity is Asturia, a master-planned community, alongside several new sold-out...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Take 5 Car Wash
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:390
  • 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 they...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,304 42,119 104,053
2023 Total Population : 7,952 37,341 84,156
2023 Employed Civilian Pop : 4,013 19,505 43,095
2023 Total Businesses : 133 759 2,199
2023 Average Household Income : $ 156,634 $ 152,980 $ 144,798
2023 Total Consumer Spending : $ 417 M $ 1727 M $ 3812 M
2023 Median Age : 44 40 42
2023 Total Households : 3,094 13,236 30,731
2023 Pop Age 25+: Bachelor's Degree : 2,158 8,337 18,895
2023 Average Home Value : $ 516,368 $ 452,644 $ 458,475
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
FL 54 Suncoast Pkwy 2021 54,000 0.29 mi
Gunn Hwy Suncoast Pkwy 2011 4,400 0.32 mi
Hwy 54 2022 10,300 0.40 mi
Gunn Hwy 2022 5,300 0.42 mi
Suncoast Pkwy 2022 10,300 0.48 mi
Suncoast Pkwy 2022 5,300 0.49 mi
Gunn Hwy Suncoast Pkwy 2011 42,500 0.52 mi
Suncoast Pkwy Gunn Hwy 2011 34,000 0.58 mi
Altamont Lane Phillips Rd 2021 6,900 0.64 mi
Altamont Lane Phillips Rd 2022 6,900 0.64 mi

Listing Broker

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