Investment Summary
Price | $1,584,000 |
Cap Rate | 6.25% |
NOI | $99,000 |
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 years starting in year 11 |
Year Built | 2023 |
Building Size | TBD |
Lot Size | 0.80 acres (34,668 SF) |
Status | Available |
Lead Brokers | Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 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 GUARANTY
» New 15-year absolute NNN ground lease with strong guaranty
» 10 percent rental increases every five (5) years after year 11
» No landlord responsibilities, ideal for out-of-town investor
» Take 5 is a subsidiary of Driven Brands, Inc. (4,700 units with over $5.3 billion in system-wide sales)
» 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
» 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
TROPHY LOCATION JUST OFF SIGNALIZED FOUR-WAY INTERSECTION ADJACENT TO WALMART SUPERCENTER
» High-visibility and easily accessible location at the signalized four-way intersection of Highway 12 and Walters Road (combined 48,890 AADT)
» Adjacent to a newly constructed Starbucks and 7-Eleven and directly across from a well performing Walmart Supercenter
» More than 124,000 residents and an average household income over $128,000 within one mile of the property
» Average Household Income is expected to increase by approx. 14% over the next five years poise Take 5 and Suisun City for steady concurrent growth
LOCATED NEAR TRAVIS AIR FORCE BASE AND MULTIPLE COMMUNITY HUBS
» Travis Air Force Base is the largest single contributor to the Solano County economy, generating over $1.6 billion in annual economic activity. Travis also employs over 13,400 military and civilian personnel, 63 percent of which live in the local communities.
» Travis Air Force Base supports the tourism industry by attracting visitors from all over the world. The base hosts a number of annual events, such as the Travis Air Force Base Open House and the Travis Air Force Base Air Show
» Located near Suisun City Heritage Center: The museum tells the story of the city’s rich history. The museum features exhibits on the city’s Native American heritage, its role in the Gold Rush, and its development into a modern city
» Close proximity to the Suisun City Marina, a popular spot for boating, fishing, and picnicking
» Neighboring Schools include Crescent Elementary School (621 Students), Dan O. Root II Health & Wellness Academy (610 Students) and Suisun Elementary School (551 Students)
NEW 2023 CONSTRUCTION
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
Property Description
» Located near Travis Air Force Base, which is the largest single contributor to the Solano County economy, generating over $1.6 billion in annual economic activity. Travis also employs over 13,400 military and civilian personnel, 63 percent of which live in the local communities.
» High-visibility and easily accessible location at the signalized four-way intersection of Highway 12 and Walters Road (combined 48,890 AADT)
» Adjacent to a newly constructed Starbucks and 7-Eleven and directly across from a well performing Walmart Supercenter
» More than 124,000 residents within five miles of the property and an average household income over $128,000 within one mile of the property. Average Household Income is expected to increase by approx. 14% over the next five years poise Take 5 and Suisun City for steady concurrent growth