Take 5 Oil Change

111 South Mullen Road, Belton, MO 64012

$1,833,000

Cap Rate 6.00%

DOM: 233 Updated: 07.22.24 Posted: 10.24.23 Status: Sold 06.13.24

Summary

Price $1,833,000	Built/Renov 2023	Tenant Take 5 Oil Change
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,573	Lease Start 04-01-2024	#Units 6
Price/SF $1,165.29	Expiration 03-31-2039	Tenant Type Automotive
NOI $110,000	R. Term 13.10	Ownership Fee Simple
Rent/SF $69.93	Increases 10.0%/5/yrs	Pop 5Mi 65,361
Lot/AC 0.39	Options 5/5yrs/10%	AHHI 5Mi $94,605

Lease Highlights

Brand-new, state-of-the-art construction
Take 5 Oil Change will sign a new 15-year lease with 5 (5-year) options to extend upon close of escrow
The lease features 10% rental increases every 5 years throughout the initial term and options
Absolute NNN | Zero landlord responsibilities
Full-term guarantee from Driven Assets, LLC | 3 locations open, 2 additional by June 2023 and 1 location by year-end

Location Description

This brand-new, state-of-the-art construction Take 5 Oil is conveniently located on Mullen Rd. (5,350 VPD), with great access and visibility from North Ave which boasts 48,300+ vehicles passing by daily. It is also just off the intersection of US Hwy 40 and State Route 7, which see a combined 67,100 vehicles per day. The property is positioned along an excellent retail corridor anchored by...

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Key Features

New construction
High traffic 50M+ VPD
Dense retail corridor
Highway close
Top 100 MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Personal guarantee
Investment grade tenant

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Links

Take 5 Oil Change https://www.take5.com/oil-change/ Wikipedia Belton, Missouri Zip Code 64012 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Take 5 Oil Change
Guarantor:Franchisee
Company:Driven Assets, LLC
# Units:6
Tenant S&P: BBB-
Moody’s: B2
Stock: NASDAQ: DRVN

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 :	6,734	48,081	68,402
2023 Total Population :	6,127	45,976	66,497
2023 Employed Civilian Pop :	3,041	22,826	33,019
2023 Total Businesses :	344	1,033	1,429
2023 Average Household Income :	$ 84,416	$ 101,963	$ 101,758
2023 Total Consumer Spending :	$ 184 M	$ 1603 M	$ 2275 M
2023 Median Age :	36	37	38
2023 Total Households :	2,505	18,186	25,915
2023 Pop Age 25+: Bachelor's Degree :	652	6,111	9,093
2023 Average Home Value :	$ 157,777	$ 252,942	$ 269,827

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mullen Rd	Larkspur Cir	2003	3,580	0.16 mi
S Mullen Rd	Minnie Ave	2003	6,690	0.17 mi
E North Ave	S Mullen Rd	2019	31,477	0.18 mi
East North Avenue	Apple Valley Pkwy	2022	17,267	0.18 mi
US Hwy 71	E 171st St	2014	54,122	0.31 mi
	E 171st St	2022	15,790	0.33 mi
South Outer Road	E 171st St	2022	2,060	0.34 mi
	E 171st St	2022	15,429	0.42 mi
	E 171st St	2022	6,251	0.43 mi
S Outer Rd	S Mullen Rd	2019	31,893	0.44 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
49429 Views
59 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
51538 Views
61 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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