Take 5 Oil Change Ground Lease,
Baton Rouge, LA Investment Summary
| Price | $959,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 10 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 Every Five (5) Years |
| Year Built | 2020 |
| Building Size | 1,462 SF |
| Lot Size | 0.48 Acres (21,000 SF) |
| Status | Sold |
| Lead Brokers | 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 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 |
Investment Highlights
10-YEAR ABSOLUTE NNN GROUND LEASE
» 10-year absolute NNN ground lease with 10% rental increases every 5 years, 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 DENSE RETAIL CORRIDOR
» Excellent visibility and access to 26,795 AADT on O’Neal Lane
» Directly across the street from Walmart Supercenter
» Surrounded by several other national retail brands including AMC Theatres, AutoZone, Walgreens, McDonald’s, Regions Bank, Murphy USA, Starbucks, Taco Bell, and many others
CENTRAL LOCATION NEAR SCHOOLS AND COMMUNITY HUBS
» Within minutes of Louisiana State University (31,700+ students | 6,500+ staff)
» Close proximity to Ochsner Medical Center – Baton Rouge, a 150-bed hospital with over 200 skilled providers
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
» New 2020 construction to tenant’s latest prototype
Property Description
SOLD
The property is strategically located at the corner of O’Neal Lane and Hewwood Avenue with excellent visibility and access to 26,795 vehicles per day directly in front of the property. It is just off Interstate 12, which experiences 88,599 vehicles per day. Interstate 12 the primary east-west thoroughfare leading to Downtown Baton Rouge. The property is located in an affluent and densely populated area with 143,115 residents and an average household income over $83,000 within five miles of the property. The property is located in a strong retail corridor with many national retailers in the surrounding area including Walmart Supercenter, AMC Theatres, AutoZone, Walgreens, McDonald’s, Regions Bank, Murphy USA, Starbucks, Taco Bell, and many others.
The property also benefits from its proximity to the Ochsner Medical Center, a 150-bed hospital including 13 health centers and a team of more than 200 providers. The property is only 11 miles from Louisiana State University, the flagship school of the state of Louisiana, with over 31,700 students and 6,500 staff. Louisiana State University draws sports fans from across the state and country for its sports program, which is coming off its fourth NCAA football championship and 44th NCAA championship across all sports.
