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Take 5 Oil Change (Sawmill Road), Columbus, OH

Take 5 Oil Change (Sawmill Road)

OH, USA

Price $1,019,284
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute 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 2016
Building Size 2,768 SF
Lot Size 0.62 Acres (27,068 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
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 LEASE WITH SCHEDULED RENTAL INCREASES
» 15-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

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at signalized hard corner, with excellent visibility and access to 39,095 vehicles per day
» Convenient access to Interstate 270 (141,240 AADT)
» Outparcel to Target-anchored shopping center
» Surrounded by major national tenants, including Whole Foods, Home Depot, Meijer, Sam’s Club, Trader Joe’s, Lowe’s, and many others

LARGE CUSTOMER BASE WITH STRONG DEMOGRAPHICS
» Close proximity to Nationwide’s Dublin offices (3,400 employees) and the corporate headquarters of Wendy’s (638 employees) and Safelite (1,900 employees)
» Large daytime population, with 145,969 daytime employees within a five-mile radius
» Located in an affluent, densely populated area, with 223,129 residents with an average household income of $109,984 living within five miles of the property

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. (2,500+ units with over $2.1 billion in annual sales)
» Poised for explosive growth

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is conveniently located at the signalized hard corner of Sawmill Road and the main entrance to Tuller Square, with excellent visibility and access to 39,095 vehicles per day. Sawmill Road provides convenient access to Interstate 270, the beltway around Columbus, which experiences a high traffic volume of 141,240 vehicles per day near the property. Located in an extremely dense retail corridor, the property is surrounded by several large shopping centers with notable national tenants. The property is outparcel to Tuller Square, a Target-anchored retail plaza that also features PetSmart and Dollar Tree. The property is also within walking distance of Sun Center, a shopping center tenanted by well-known retailers, including Whole Foods, REI, Nordstrom Rack, DSW, Michaels, Stein Mart, and more. Other tenants located near the property include Home Depot, Meijer, Dick’s Sporting Goods, Burlington, Sam’s Club, Trader Joe’s, Lowe’s, and many others.

The property is centrally located near major employers and densely populated neighborhoods, providing an excellent customer base for Take 5 Oil Change. The property is close to several business and industrial parks that are home to large employers, including Nationwide (3,400 employees), Wendy’s (638 employees), and Safelite (1,900 employees). In total, 145,969 daytime employees work within a five-mile radius of the property. Additionally, the property is located in an affluent, heavily populated area, with 223,129 residents with an average household income of $109,984 living within a five-mile radius.

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