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 AND RESIDENTIAL CORRIDOR WITH ACCESS TO OVER 38K VEHICLES AND THE AREA’S LARGEST EMPLOYER
» Prominent location along U.S. 98/Cortez Boulevard, with excellent visibility and access to 39,000 vehicles per day
» Minutes from HCA Florida Oak Hill Hospital (350 beds, 1,670 employees), which is the area’s largest employer and is currently undergoing an approximately $100 million expansion (Jan. 2023 completion)
» Dense retail corridor with nearby tenants such as Walmart Supercenter, Hobby Lobby, Sam’s Club and Gas Station, Enterprise Rent-A-Car, AutoZone Auto Parts, O’Reilly Auto Parts, Advance Auto Parts, U-Haul, Budget Truck Rental, and numerous others
» Central location near three large master-planned 55+ retirement, golf communities with over 7,500 homes, and the planned Cortez Oaks mixed-use development
» 85,073 residents within a five-mile radius (15% growth since 2010), providing a consistent customer base for the property
» Average annual household income of $74,052 within five miles (projected 17% increase by 2027)

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 also 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

SOLD

» Take 5 Oil Change is prominently located along U.S. 98/Cortez Boulevard with excellent visibility and access to 39,000 vehicles per day in a dense retail corridor with nearby tenants such as Walmart Supercenter, Hobby Lobby, Sam’s Club and Gas Station, Enterprise Rent-A-Car, AutoZone Auto Parts, O’Reilly Auto Parts, Advance Auto Parts,
U-Haul, Budget Truck Rental, and numerous others
» The property is centrally located near HCA Florida Oaks Hill Hospital (1,670 employees), three large master-planned 55+ retirement developments, and golf communities with over 7,500 homes. It is also surrounded by many large schools within the Hernando County School District (over 24,000 students, approximately 3,100 employees)
» 85,073 residents live within a five-mile radius ( 15% growth since 2010) with an average annual household income of $74,052 which is projected to increase significantly by 17% in the next five years
» 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