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Take 5 Oil Change (West 5th Avenue), Columbus, OH

Take 5 Oil Change (West 5th Avenue)

OH, USA

Price $856,716
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 1,892 SF
Lot Size 0.25 Acres (10,846 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 NEAR MAJOR RETAILERS
» Hard corner location close to two of the region’s major freeways, Route 315 (96,910 AADT) and Interstate 670 (118,200 AADT)
» Located in a dense retail and commercial corridor near significant development projects
» Near major national tenants, including Kroger, Target, AMC Theatres, Walgreens, and many others

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Less than three miles from downtown Columbus
» Within walking distance of Ohio State University, a nationally ranked university with 66,444 students
» 346,660 residents live and 454,218 daytime employees work within a five-mile radius, providing a large customer base

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 hard corner of Meadow Road and West Fifth Avenue, with excellent visibility and access to 17,800 vehicles per day. The property is also close to two of the region’s major freeways, Route 315 (96,910 AADT) and Interstate 670 (118,200 AADT). 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. Located in a dense retail corridor, the property is close to a number of national retailers, including Kroger, Target, AMC Theatres, Walgreens, Big Lots, AutoZone, Ace Hardware, McDonald’s, and many others.

The property is centrally located just over two miles from downtown Columbus and within walking distance of Ohio State University, a nationally ranked university with 66,444 students. The property is close to several new developments, including the 125-acre Grandview Yard, a mixed-use development featuring commercial businesses, office space, restaurants, grocery and service retailers, and luxury apartments. Due to its central location, the property is surrounded by large employers and is near a number of major business districts. The property further benefits from a large residential population in the surrounding area. Approximately 454,220 daytime employees work and 346,660 residents live within a five-mile radius of the property, providing an excellent customer base for Take 5 Oil Change.

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