Take 5 Oil Change Ground Lease,
Sachse, TX (Dallas/Fort Worth MSA) Investment Summary
| Price | $1,355,113 |
| Cap Rate | 5.75% |
| NOI | $77,919 |
| Lease Term | 10 Years |
| Lease Type | Absolute NNN corporate ground 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 | Q1 2020 |
| Building Size | 1,462 SF |
| Lot Size | 1.00 Acres (53,690 SF) |
| Status | Under Contract |
| Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
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 DENSELY POPULATED RETAIL CORRIDOR WITH AFFLUENT DEMOGRAPHICS
» 33,940 AADT directly in front of the property along State Highway 78
» Across the street from Walmart Supercenter
» Outparcel to LA Fitness ($2.1 billion in 2018 revenue)
» Within five miles of seven major shopping centers (3 million SF of retail space, 291 stores)
» 182,661 residents and $118,972 AHI within a five-mile radius
NEAR LARGE SCHOOLS AND EMPLOYERS
» Within three miles of Sachse High School (2,700+ students), Wylie High School (2,200+ students), Dr. Al Draper Intermediate School (800+ students), Raymond Cooper Junior High School (700+ students), and Cheri Cox Elementary School (600+ students)
» Two miles from Sanden International (885 employees)
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
» Full-brick upgraded 2020 construction
» Located in an income tax free state
Property Description
SOLD
The property is conveniently located on State Highway 78, which experiences a high traffic count of 33,940 vehicles per day. The site resides in a growing retail corridor and is outparcel to LA Fitness ($2.1 billion in 2018 revenue). Visibility is increased by the property being within five miles of seven major shopping centers with a combined 3 million SF of retail space and 291 stores. Benefitting from its centralized location in a major retail hub, the site is strategically placed across the street from a Walmart Supercenter.
The property is close to several highly attended schools and is within three miles of Sachse High School (2,700+ students), Wylie High School (2,200+ students), Dr. Al Draper Intermediate School (800+ students), Raymond Cooper Junior High School (700+ students), and Cheri Cox Elementary School (600+ students). The location is supported by a robust customer base in a densely populated residential area; 182,661 residents live within a five-mile radius of the property, providing a sizeable customer base for Take 5 Oil Change. The location is two miles from one of the largest employers in Sachse, Sanden International (885 employees). The site is also supported by an affluent customer base with an average household income of $118,972 within a five-mile radius of the property.
