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Take 5 Oil Change, Hudson, FL

Take 5 Oil Change

Hudson, Florida

Price $2,223,000
Cap Rate 5.85%
NOI $130,000
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 Years During The Initial Term And Option Periods
Year Built 2022
Building Size 1,398 SF
Lot Size 0.66 Acres (28,750 SF)
Status Available
Lead Broker Information 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

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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 A STRONG FRANCHISE GUARANTY
» New 15-year absolute NNN lease with 10% rental increases every five (5) years in initial term and option periods, providing a hedge against inflation
» Guaranteed by Purple Square Management, owner and operator of over 223 franchise locations with 10 Take 5 locations open and plans to have 20 locations by the end of 2022
» Take 5 is a subsidiary of Driven Brands, Inc. (4,700 units with over $5.3 billion in system-wide sales)
» Take 5 is experiencing explosive growth as Driven Brands scaled the business from less than 50 locations to more than 800 company-operated and franchised locations across the U.S. and Canada
» Florida has no state income tax

DENSE RETAIL CORRIDOR WITH ACCESS TO OVER 78K VEHICLES AND 112K NEARBY RESIDENTS
» Prominent location along State Road 52 with excellent visibility and access to a combined 78,111 vehicles per day at the nearest signalized intersection
» Outparcel to a Publix Super Market-anchored shopping center and directly across from The Oaks shopping mall (20+ stores) within one of Hudson’s main retail corridors
» Close to HCA Florida Bayonet Point Hospital (290 beds) and Pasco-Hernando State College (9,915 students) and near many schools within the Pasco County School District (over 76,000 students)
» Strong existing demographics in one of the fastest growing areas in the Tampa MSA with 112,293 residents within a five-mile radius (12% growth since 2010)
» Average annual household income within five miles projected to increase 21% by 2027
» Gateway to the city of Tampa and part of the Tampa Bay Region (3.22 million people), one of America’s fastest-growing metropolitan areas with a net inflow of 150 people per day
» Beneficial proximity to Tampa International Airport (15.4 million annual passengers 2021), consistently ranked in the top three U.S. airports by travelers and industry leaders

DYNAMIC TENANT SERVING A PRACTICAL NEED
» New high-quality 2022 construction featuring three (3) bays, which historically increases profit margins
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Take 5 Oil Change was awarded the J.D. Power award for the highest overall customer satisfaction in quick oil change in 2021
» Take 5 Oil Change is ranked in Entrepreneur magazine’s 2022 list of the Fastest-Growing Franchises
» In 2021, Take 5 earned the 152nd spot on the Franchise Times magazine’s Top 400 list
» Florida has one of the highest rates of car ownership in the nation
» In 2021, Tampa-area households spent 18.2% of their budget on transportation, of which 96% was spent buying and maintaining private vehicles
» Well-positioned within part of the largest consumer market in Florida with nearly 3.2 million people residing within the Tampa Bay region


Property Description

» This Take 5 Oil Change is prominently located along State Road 52, one of only two East/West connectors to the Suncoast Parkway near the Little Road signalized intersection which offers excellent visibility and access to a combined 78,111 vehicles per day within a dense retail corridor
» The property is located minutes from HCA Florida Bayonet Point Hospital (290 beds) and Pasco-Hernando State College (9,915 students) and is surrounded by many large schools within the Pasco County School District (over 76,000 students)
» 112,293 residents (12% growth since 2010) with an average annual household income of$64,411 live within a five-mile radius with a 21% projected AAHI increase by 2027
» The location is well-positioned within part of the largest consumer market in Florida with nearly 3.2 million people residing within the Tampa Bay region
» Florida also has one of the highest rates of car ownership in the nation and in 2021 Tampa-area households spent 18.2% of their budget on transportation, of which 96% was spent buying and maintaining private vehicles

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