Take 5 Car Wash

8715 OH-66, Defiance, OH 43512

$2,380,725

Cap Rate 7.40%

$2,709,231

Cap Rate 6.50%

DOM: 54 Updated: 02.23.24 Posted: 11.03.23 Status: Sold 12.27.23

Summary

Price $2,380,725 $2,709,231	Built/Renov 2020	Tenant Take 5 Car Wash
Cap Rate 7.40% 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,808	Lease Start 12-29-2022	#Units 390
Price/SF $625.19 $711.46	Expiration 12-28-2042	Tenant Type Automotive
NOI $176,100	R. Term 17.7	Ownership Fee Simple
Rent/SF $46.24	Increases 2.0%/6/yrs	Pop 5Mi 21,284
Lot/AC 1.00	Options 0/0yrs	AHHI 5Mi $76,215

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 fronting SR-66 (OH-66), a main North-South thoroughfare, which has access to 13,432 vehicles passing by daily. The property is situated as an outparcel to a Kohl’s Department store and is within the primary retail hub of the area boasting national retailers, including Tractor Supply Co., Menards, Buffalo Wild Wings, Meijer, Walmart and more. Just a short drive...

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Key Features

Build to suit
Major thoroughfare
Dense retail corridor
Near major nationals
Highway location
Long 15+ yr lease
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Take 5 Car Wash Wikipedia Defiance, Ohio Zip Code 43512 Broker Site Page

Maps

Local Information

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 :	257	12,056	21,031
2023 Total Population :	259	12,154	21,233
2023 Employed Civilian Pop :	148	6,053	10,209
2023 Total Businesses :	130	767	999
2023 Average Household Income :	$ 92,120	$ 86,515	$ 86,405
2023 Total Consumer Spending :	$ 12 M	$ 388 M	$ 675 M
2023 Median Age :	41	39	41
2023 Total Households :	154	5,078	8,879
2023 Pop Age 25+: Bachelor's Degree :	28	1,153	2,088
2023 Average Home Value :	$ 194,690	$ 171,388	$ 178,441

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Route 66 North	Elliott Rd	2021	7,354	0.15 mi
N Clinton St	US Hwy24	2018	13,286	0.37 mi
Elliott Road	Hotel Dr	2021	1,856	0.42 mi
SR 66	US Hwy 24	2021	13,662	0.47 mi
RAMP FROM US24 WB TO SR66	N Clinton St	2021	2,009	0.54 mi
		2019	2,741	0.55 mi
RAMP FROM SR66 TO US24 WB		2021	2,471	0.55 mi
RAMP FROM SR66 TO US24 EB		2021	1,995	0.59 mi
		2019	2,479	0.60 mi
RAMP FROM US24 EB TO SR66		2021	2,378	0.61 mi

Listing Broker

Gabriel Britti

Marcus & Millichap

Contact

88 Listings
19384 Views
52 Sold

Peter Deltondo

Marcus & Millichap

Contact

57 Listings
10668 Views
32 Sold

Gabriel Britti

Gabriel Britti, Senior Managing Director of Investments, co-founded the Issenberg Britti Group in 2009 and is a Senior Director of the National Retail Group and Associate Director of the Net Leased Properties Group of Marcus & Millichap Real Estate Investment Services. Gabriel loves what he does, has a thirst for knowledge and takes great pleasure in sharing that knowledge to advance clients towards their investment goals. Gabriel has a long list of loyal clients including some of the na

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Peter Deltondo

Peter Deltondo serves as the Director of the Net Leased Investments Group specializing in Single-Tenant Retail Properties throughout the nation in the Newport Beach Office. Over the years, he has worked for National Companies under the Sale-Leaseback program and has also created a Reverse-Build-A-Suit scenario to help brands continue to expand. He graduated from The University of Fullerton California with a bachelor's of science and an emphasis in Real Estate Finance. He began his career with t

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Ronnie Issenberg

Marcus & Millichap

Contact

88 Listings
19384 Views
52 Sold

Ronnie Issenberg

Ronnie S. Issenberg, Senior Managing Director Investments and Director National Retail Group, has been working in the Investment Real Estate Community since 1998 managing his personal portfolio of Multi Family properties and since 2005, been a member of the National Retail, Net Leased Properties and Land Divisions of Marcus & Millichap, specializing in brokerage of Single Tenant Retail and Fuel Service Assets. Mr. Issenberg earned a Bachelor of Arts and Sciences degree from the University o

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