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Take 5 Oil Change, Durham, NC

Take 5 Oil Change

Durham, North Carolina

Price $1,547,000
Cap Rate 4.85%
NOI $75,000
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 1,936 SF
Lot Size ±0.306 Acres (13,329.36 SF)
Status Available
Lead Broker Information Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR GUARANTEED ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 10% rental increases in initial term and options, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance
» No landlord management, providing an ideal investment opportunity for an out-of-area investor

HIGH-VISIBILITY LOCATION IN A DENSELY POPULATED AND AFFLUENT AREA
» 35,000 AADT in front of the property on North Duke Street/Roxboro Street and just off Holt School Road with an additional 1,410 AADT
» Convenient access to Interstate 85 (106,000 AADT)
» Average annual household income of $78,032 within a three-mile radius of the location, with a projected 13 percent annual household increase in the next five years
» 132,033 residents live within a five-mile radius of the site with a projected nine percent increase within the next five years, poising Take 5 and Durham for significant concurrent growth

CENTRAL LOCATION NEAR MAJOR SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Walking distance to Stonewood Apartments (100 units) and Holt Elementary (673 students), increasing traffic to the location
» 1.4 miles from Duke Regional Hospital (388 beds, 3,500 employees) and Magnolia Pointe Apartment Homes (266 units)
» Surrounded by a strong mix of national including Lowe’s Home Improvement, Firestone Complete Auto Care, Advance Auto Parts, AutoZone Auto Parts, Jiffy Lube, McDonald’s,
Wendy’s, Taco Bell, Hardee’s, and many more

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Property features two bays, which historically increases profit margin
» Subsidiary of Driven Brands, Inc. (4,100+ units with over $3.1 billion in annual sales)
» Take 5 is experiencing explosive growth and recently announced franchising plans



Property Description

The property is strategically located on North Duke Street/Roxboro Street and Holt School Road with a combined 36,410 vehicles per day by the property. The site offers convenient access to Interstate 85 (106,000 AADT), which brings additional traffic to the location. The surrounding area is affluent and densely populated with an average household income of $78,032 within three miles of the property. 132,033 residents live within a five-mile radius of the site with a projected nine percent increase within the next five years, poising Take 5 and Durham for significant concurrent growth.

The subject property is located near schools, large employers, and community hubs. The property is located in a dense retail area and surrounded by single and multi-family units. The site is also surrounded by a strong mix of national including Lowe’s Home Improvement, Firestone Complete Auto Care, Advance Auto Parts, AutoZone Auto Parts, Jiffy Lube, McDonald’s, Wendy’s, Taco Bell, Hardee’s, and many more. Duke Regional Hospital (388 beds, 3,500 employees) is 1.4 miles from the site, increasing traffic to the location.

Contact Us About This Property



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