Investment Summary
Price | $1,305,000 |
Cap Rate | 5.75% |
NOI | $75,000 |
Lease Term | 15 years |
Lease Type | Absolute NNN 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 | 2023 |
Building Size | 1,421 SF |
Lot Size | 0.53 acres (23,087 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN GROUND LEASE WITH CORPORATE GUARANTY
» New 15-year absolute NNN ground lease with corporate guaranty
» 10% rental increases every five (5) years in initial term and option periods, providing a long-term income generator
» No landlord responsibilities, ideal for a local or out-of-town investor
» Take 5 is a subsidiary of Driven Brands, Inc. (4,700 units with $5.3B+ in system-wide sales)
» Take 5 Oil Change is ranked in Entrepreneur magazine’s 2022 list of the Fastest-Growing Franchises
» In 2023, Take 5 earned the 87th spot on the Franchise Times magazine’s Top 400 list, up from the 134th spot in 2022
» 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
HIGH-VISIBILITY SETTING ALONG A MAJOR BATON ROUGE THOROUGHFARE
» High-visibility and easily accessible location along Sullivan Road, a major north-south Baton Rouge thoroughfare (29,216 AADT)
» Excellent proximity to major national tenants such as Walmart Supercenter, ALDI, CVS, Raising Cane’s, Five Guys, Popeyes, Jack in the Box, Starbucks, and many more
» Surrounded by high-density single-family housing developments
DENSELY POPULATED AND AFFLUENT CUSTOMER BASE WITH EXCELLENT SUBURBAN DEMOGRAPHICS
» 55,582 residents live within five miles of the property, providing a reliable customer base for the site
» Excellent average annual household income of $117,459 within a three-mile radius of the property
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise this Take 5 Oil Change and Baton Rouge for steady concurrent growth
» Less than 15 miles from Downtown Baton Rouge, the capital and second-largest city in Louisiana (227,470 population)
NEW 2023 HIGH-QUALITY CONSTRUCTION
» New high-quality 2023 construction built to latest Take 5 Oil Change prototype
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
Property Description
» Exceptional Visibility and Access: This Take 5 Oil Change has a high-visibility and easily accessible location along Sullivan Road, a major north-south Baton Rouge thoroughfare (29,216 AADT)
» Ideally Set in a Large Retail Corridor: The property is surrounded by notable tenants such as Walmart Supercenter, ALDI, CVS, Raising Cane’s, Five Guys, Popeyes, Jack in the Box, Starbucks, and many more, creating significant crossover shopping
» Beneficial Proximity to Housing Developments: The site greatly benefits from its proximity to high-density single-family housing developments such as The Settlement on Shoe Creek (over 479 homesites, 250 apartments, 100 Assisted Living Units, numerous parks, and 150,000+ SF of commercial space)
» Large and Reliable Customer Base: 55,582 residents live within a five-mile radius of the site, while an excellent average annual household income of $117,459 within a three-mile radius of the property provides an affluent demographic
» Growing Demographics: Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Take 5 Oil Change and Baton Rouge for steady concurrent growth