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Updated: 08.06.24 Posted: 05.04.24 Status: Sold

Summary

Price $1,714,285
Built/Renov 2024
Tenant Take 5 Oil Change (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,500
Lease Start 02-20-2024
#Units 1,000
Price/SF $1,142.86
Expiration 02-28-2039
Tenant Type Automotive
NOI $90,000
R. Term 13.8
Ownership Ground Lease
Rent/SF $60.00
Increases 10.0%/5/yrs
Pop 5Mi 130,374
Lot/AC 1.35
Options 4/5yrs/10%
AHHI 5Mi $103,349

Highlights

  • Take 5 Oil Change has 14+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Take 5 Oil Change is strategically located on Harper Lane, with access to 35,300 vehicles passing by daily. The property is surrounded by well-known national tenants including Burger King, TD Bank, Starbucks, Sherwin-Williams, 7-Eleven, and more. The 5-mile trade area is supported by a population of 130,374 residents with an average household income of $103,349. St. Johns is an unincorporated...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Take 5 Oil Change
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:1,000
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: DRVN

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,254 59,788 129,722
2023 Total Population : 6,156 51,847 114,888
2023 Employed Civilian Pop : 3,317 29,506 62,484
2023 Total Businesses : 61 1,051 2,925
2023 Average Household Income : $ 184,919 $ 146,115 $ 145,050
2023 Total Consumer Spending : $ 302 M $ 2361 M $ 4999 M
2023 Median Age : 35 36 38
2023 Total Households : 1,933 18,921 40,621
2023 Pop Age 25+: Bachelor's Degree : 1,381 11,690 26,201
2023 Average Home Value : $ 505,544 $ 427,843 $ 426,026
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Race Track Road Dragonfly Dr 2022 21,400 0.31 mi
Russell Sampson Rd Race Track Rd 2010 5,727 0.57 mi
Race Track Rd Dragonfly Dr 2010 18,421 0.59 mi
2010 3,752 1.10 mi
Cypress Banks Drive 2010 5,123 1.11 mi
Veterans Parkway Cresthaven Pl 2022 8,700 1.12 mi
Woodfield Lane 2010 3,752 1.42 mi
2022 18,300 1.61 mi
Race Track Rd I- 95 2010 9,492 1.62 mi
Saint Johns Parkway Russell Sampson 2022 22,000 1.74 mi

Listing Broker

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