Investment Highlights

LONG-TERM ABSOLUTE NNN CORPORATE GROUND LEASE
» 10-year absolute NNN corporate ground lease with 10% rental increases in initial term and options, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an out-of-area investor
» Leased to corporate entity with more than 450 units

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» 30,696 AADT directly in front of the property along 82nd Street
» Convenient access to West Loop 289 (67,254 AADT) and U.S. Highway 62 (14,096 AADT)
» 2.5 miles from South Plains Mall (1.2 million SF of retail space, 140+ stores, 10 million annual visitors)
» Quick access to Walmart Supercenter

NEAR LARGE SCHOOLS AND EMPLOYERS IN HIGHLY POPULATED AFFLUENT AREA
» Minutes from Texas Tech University (38,200 students, 5,677 employees, $1 billion annual economic impact)
» $112,288 AHI within a one-mile radius of the property
» 140,981 residents live within a five-mile radius of the property

DYNAMIC TENANT SERVING A PRACTICAL NEED
» 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
» Q4 2019 construction
» Located in an income tax free state

Property Description

SOLD

The property is conveniently located on 82nd Street, which experiences a high traffic count of 30,696 vehicles per day. The site benefits from nearby access to West Loop 289 (67,254 AADT) and U.S. Highway 62 (14,096 AADT). The property resides in a growing retail corridor and is within minutes of South Plains Mall, which welcomes more than 10 million visitors annually. The mall features 1.2 million SF of retail space, a 16-screen Premiere Cinemas theatre, and 140+ stores, including J.C. Penney, The Home Depot, Barnes & Noble, Dillard’s, Forever 21, Chick-fil-A, LensCrafters, Foot Locker, and more. Benefitting from its centralized location in a major retail hub, the site is strategically placed within walking distance of Walmart Supercenter.

The property is close to several highly attended schools and is supported by a robust customer base in a densely populated residential area; 140,981 residents live within a five-mile radius of the property, providing a sizeable customer base for Take 5 Oil Change. The location is minutes from Texas Tech University, which has 38,200 students, 5,677 employees, and generates an annual economic impact of $1 billion. The site is also supported by a large and affluent customer base with a population of 140,981 and an average household income of $112,288 within a one-mile radius of the property.