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Take 5 Oil Change Ground Lease, Blacklick, OH

Take 5 Oil Change Ground Lease

OH, United States

Price $732,300
Cap Rate
NOI
Lease Term 15 Years
Lease Type NNN Ground Lease, with Tenant Responsible for All Real Estate Taxes, Insurance, Utilities, and All Necessary Maintenance and Repairs
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2016
Building Size 1,947 SF
Lot Size 0.65 Acres (28,510 SF)
Status Sold
Lead Broker Information 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

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Ohio-licensed real estate broker RESGcompanies.

Investment Highlights

NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» Brand new 15-year, corporate, absolute NNN lease with no landlord responsibilities, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Building built at tenant’s expense, demonstrating long-term commitment to the location

HIGH TRAFFIC LOCATION NEAR COMPLIMENTARY TENANTS
» Excellent visibility to 18,470 vehicles per day on Reynoldsburg-New Albany Road
» Just off of East Broad Street – 50,265 AADT
» Across from Kroger-anchored center with synergistic tenants, including Goodyear, Kroger Fuel, and BP

CENTRAL LOCATION NEAR MAJOR EMPLOYERS AND DEVELOPMENT SITES
» 10 miles from downtown Columbus
» Close proximity to major employers, including Mount Carmel East, the U.S. Defense Logistics Agency, and L Brands Inc.
» Mount Carmel East is currently undergoing a $310 million expansion

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Subsidiary of Driven Brands, Inc. (over $2.1 billion in annual sales)
» Poised for explosive growth

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on Reynoldsburg-New Albany Road, with excellent access and visibility to 18,470 vehicles per day. The property is located just off of the signalized intersection of Reynoldsburg-New Albany Road and East Broad Street, a major arterial which experiences a traffic count of 50,265 vehicles per day. Access to Interstate 270, Columbus’s beltway, is less than two miles from the property; the interstate experiences high traffic volumes of nearly 131,000 vehicles per day. A Kroger-anchored shopping center is located directly across from the property and features major national retailers, including McDonald’s, Sprint, Wendy’s, Great Clips, and others. Take 5 Oil Change benefits from synergistic tenants within the center, including Kroger Fuel and Goodyear Tires. Other complimentary tenants in the immediate area include BP, AAA Car Care Plus, and Discount Tire.

The property is conveniently located near downtown Columbus, John Glenn Columbus International Airport, and major employers and development sites. Mount Carmel East, located less than two miles from the property, has the busiest adult emergency department in greater Columbus and is currently in the midst of a four-year, $310 million campus-wide modernization project. Additionally, the distribution center for L Brands Inc. is also located a short distance from the property. The distribution center, which handles orders for L Brand’s subsidiaries, including Victoria’s Secret and Bath & Body Works, employs approximately 5,000 people.

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