Take 5 Oil Change Ground Lease,
Rowlett, TX Investment Summary
| Price | $1,095,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 11.5 Years |
| Lease Type | Absolute NNN Ground Lease, with Tenant Responsible for all Taxes, Insurance, Maintenance, and Repair, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases in Initial Term and Options |
| Year Built | 2019 |
| Building Size | 1,531 SF |
| Lot Size | 0.34 Acres (15,000 SF) |
| Status | Sold |
| Lead Brokers | Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 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
» 11.5-year 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-ofarea investor
» Leased to corporate entity with more than 450 units
» Below market rent
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 41,332 vehicles per day on Lakeview Parkway
» Convenient access to the President George Bush Turnpike (91,184 AADT), a hightraffic roadway forming a partial loop around Dallas
» Infill location in dense retail corridor
» Directly across from both Home Depot and Walmart Supercenter
CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Several large schools are located nearby, including Dorsey Elementary School (647 students), Coyle Middle School (1,104 students), and Rowlett High School (2,710 students)
» Located in a densely populated market, with 243,724 residents living within a fivemile radius
» Rowlett is the eight fastest growing city in the United States
» The Dallas–Fort Worth MSA is the nation’s fastest growing metropolitan area
DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Experiencing explosive growth and recently announced franchising plans
Property Description
SOLD
The property is strategically located on Lakeview Parkway, with excellent visibility and access to 41,332 vehicles per day. Lakeview Parkway provides convenient access to the President George Bush Turnpike (91,184 AADT), a high-traffic roadway forming a partial loop around Dallas. The property is located in a dense retail corridor and is directly across from both Home Depot and Walmart Supercenter. Other well-known retailers near the property include Sprouts Farmers Market, Bank of America, Chick-fil-A, Aldi, Walgreens, Target, Harbor Freight Tools, and many others.
The property benefits from its prime location near major schools and dense residential neighborhoods. Several large schools are located nearby, including Dorsey Elementary School (647 students), Coyle Middle School (1,104 students), and Rowlett High School (2,710 students). Additionally, the property is located in a densely populated market, with 243,724 residents living within a five-mile radius.
