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Take 5 Oil Change (Balcones Drive), Austin, TX

Take 5 Oil Change (Balcones Drive)

Austin, TX

Price $2,292,000
Cap Rate 6.00%
NOI $137,500
Lease Term 10 Years
Lease Type NNN, with Tenant Responsible for All Taxes, Utilities, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2017
Building Size 1,500 SF
Lot Size 0.55 Acres (24,002 SF)
Status Available
Lead Broker Information Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Cushman & Wakefield
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

ABSOLUTE NNN WITH SCHEDULED RENTAL INCREASES
» New 10-year NNN lease with no landlord responsibilities
» 10% rental increases every five years in initial term and option periods, providing a hedge against inflation
» Tenant is responsible for maintaining the entire property, including the roof, structure, foundation, parking lot, and landscaped areas
» Leased to 400+ Unit Corporate Entity

HIGH-TRAFFIC LOCATION NEAR MAJOR RETAILERS
» Hard corner location with immediate access to Loop 1 (145,273 AADT)
» Directly across from Randalls grocery store
» Near major national tenants, including Walmart Supercenter, Home Depot, H-E-B, Neiman Marcus, Target, and many others

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Close proximity to several large employers, including Camp Mabry (2,000+ employees), several hospitals, and high-tech companies like Apple and IBM
» Less than five miles from downtown Austin and the Texas State Capitol
» 293,884 residents and 355,202 daytime employees within a five-mile radius, providing a large customer base
» Located in an extremely affluent area, with an average household income of $155,081 within one mile

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Poised for explosive growth

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located on Balcones Drive, with excellent visibility and access to 12,260 vehicles per day. Located just south of Northland Drive (39,160 AADT), the property enjoys immediate access to Loop 1, a heavily trafficked highway with a traffic count of 145,273 vehicles per day near the property. The property is directly across from a Randalls grocery store and is within walking distance of several major retailers, including Starbucks, McDonald’s, 7-Eleven, Chase Bank, Massage Envy, AT&T, and FedEx. The property is also minutes from a number of large retail centers, featuring notable retailers such as Target, Walmart Supercenter, H-E-B, Lowe’s, Home Depot, CVS, Walgreens, Macy’s, Dollar Tree, and more.

The property is centrally located just over four miles from downtown Austin and the University of Texas at Austin, a nationally ranked university with 51,331 students. Other nearby schools include Austin Community College Highland, with 6,000 students, and McCallum High School, with 1,740 students. Several large employers are located near the property, including Camp Mabry, with over 2,000 permanent personnel; the University of Texas at Austin, which employs 23,131 people throughout Greater Austin; and several high-tech companies, including Apple and IBM. The property further benefits from a large and extremely affluent customer base in the surrounding area. Approximately 355,000 daytime employees work and 293,884 residents live within a five-mile radius of the property. Additionally, the average household income within one mile of the property is $155,081.

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