Take 5 Oil Change Ground Lease,
Blacklick, OH Investment Summary
| Price | $732,300 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | NNN Ground Lease, with Tenant Responsible for All Real Estate Taxes, Insurance, Utilities, and All Necessary Maintenance and Repairs |
| Rental Increases | 10% Rental Increases Every 5 Years |
| Year Built | 2016 |
| Building Size | 1,947 SF |
| Lot Size | 0.65 Acres (28,510 SF) |
| Status | Sold |
| Lead Brokers | Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Cushman and Wakefield Inc. LIC. # 00616335 This property is listed in conjunction with Ohio-licensed real estate broker RESGcompanies. |
Investment Highlights
NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» Brand new 15-year, corporate, absolute NNN lease with no landlord responsibilities, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Building built at tenant’s expense, demonstrating long-term commitment to the location
HIGH TRAFFIC LOCATION NEAR COMPLIMENTARY TENANTS
» Excellent visibility to 18,470 vehicles per day on Reynoldsburg-New Albany Road
» Just off of East Broad Street – 50,265 AADT
» Across from Kroger-anchored center with synergistic tenants, including Goodyear, Kroger Fuel, and BP
CENTRAL LOCATION NEAR MAJOR EMPLOYERS AND DEVELOPMENT SITES
» 10 miles from downtown Columbus
» Close proximity to major employers, including Mount Carmel East, the U.S. Defense Logistics Agency, and L Brands Inc.
» Mount Carmel East is currently undergoing a $310 million expansion
DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Subsidiary of Driven Brands, Inc. (over $2.1 billion in annual sales)
» Poised for explosive growth
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located on Reynoldsburg-New Albany Road, with excellent access and visibility to 18,470 vehicles per day. The property is located just off of the signalized intersection of Reynoldsburg-New Albany Road and East Broad Street, a major arterial which experiences a traffic count of 50,265 vehicles per day. Access to Interstate 270, Columbus’s beltway, is less than two miles from the property; the interstate experiences high traffic volumes of nearly 131,000 vehicles per day. A Kroger-anchored shopping center is located directly across from the property and features major national retailers, including McDonald’s, Sprint, Wendy’s, Great Clips, and others. Take 5 Oil Change benefits from synergistic tenants within the center, including Kroger Fuel and Goodyear Tires. Other complimentary tenants in the immediate area include BP, AAA Car Care Plus, and Discount Tire.
The property is conveniently located near downtown Columbus, John Glenn Columbus International Airport, and major employers and development sites. Mount Carmel East, located less than two miles from the property, has the busiest adult emergency department in greater Columbus and is currently in the midst of a four-year, $310 million campus-wide modernization project. Additionally, the distribution center for L Brands Inc. is also located a short distance from the property. The distribution center, which handles orders for L Brand’s subsidiaries, including Victoria’s Secret and Bath & Body Works, employs approximately 5,000 people.
