Take 5 Oil Change
Spring Hill, Florida
| Price | $2,780,000 |
| Cap Rate | 5.00% |
| NOI | $139,000 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | 1,686 SF |
| Lot Size | 0.92 Acres (40,075 SF) |
| Status | Available |
| Lead Broker Information | Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH GUARANTY
» New 15-year absolute NNN lease with strong franchise guaranty
» 10 percent rental increases every five (5) years in initial term and option periods, providing a hedge against inflation
» No landlord responsibilities, ideal for an out-of-town investor
» Take 5 Oil Change was awarded the J.D. Power Award for highest overall customer satisfaction in quick oil change in 2021
» Guaranteed by Purple Square Management, owner and operator of over 223 franchise locations
HIGH-VISIBILITY FLORIDA LOCATION WITH ACCESS TO OVER 45K VEHICLES
» Conveniently located along U.S. Route 19/Commercial Way, with access to 45,500+ vehicles per day
» Adjacent to Nature Coast Commons, a 225,000+ SF power center anchored by Walmart Supercenter, JCPenney, ALDI, Best Buy, Ross Dress for Less, and PetSmart
» Surrounded by high-density, single family housing developments and large apartment complexes
» Prime location near Hernando Beach, a three-acre park and beach community featuring swimming, water skiing, fishing, picnicking, and more
» 59,555 residents within a five-mile radius, providing a consistent customer base for the property
» Three miles from the Gulf of Mexico, attracting a significant amount of tourist traffic and new customers to and from the site
NEW 2022 BUILT-TO-SUIT CONSTRUCTION IN INCOME TAX-FREE STATE
» New 2022 built-to-suit construction featuring three (3) service bays, which historically increases profit margin
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Take 5 is experiencing explosive growth and recently announced franchising plans
» Florida has no state income tax, estate tax, or inheritance tax
Property Description
This Take 5 Oil Change is conveniently located along U.S. Route 19/Commercial Way, with excellent access and visibility to 45,500+ vehicles per day. The site is less than one mile from Spring Hill Drive, a primary east-west Spring Hill thoroughfare with access to 26,902 vehicles per day. The property is strategically placed adjacent to Nature Coast Commons, a 225,000+ SF power center anchored by Walmart Supercenter, JCPenney, ALDI, Best Buy, Ross Dress for Less, and PetSmart.
The site is surrounded by high-density, single family housing developments and large apartment complexes, with 59,555 residents living within a five-mile radius. The property is also within walking distance to Hernando Beach, (three-acre park and beach community featuring swimming, water skiing, fishing, picnicking, and more), and is three miles from the Gulf of Mexico, attracting a significant amount of tourist traffic and new customers to and from the site.
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