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Take 5 Oil Change Ground Lease, League City, TX

Take 5 Oil Change Ground Lease

Price $1,434,000
Cap Rate 5.25%
NOI $75,306
Lease Term 10 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including, Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built Q4 2019
Building Size 1,415 SF
Lot Size 0.68 Acres (29,621 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

LONG-TERM ABSOLUTE NNN GROUND LEASE
» 10-year absolute NNN corporate ground lease with 10% rental increases in initial term and options, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an out-of area investor
» Leased to corporate entity with more than 450 units with guaranty from parent company entity

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED RETAIL CORRIDOR
» 24,425 AADT directly in front of the property along Farm to Market 646 Road West
» Convenient access to Interstate 45 (91,165 AADT)
» Within four miles of six major shopping centers (combined 2.4 million SF of retail space and 287 stores)
» 127,931 residents in a five-mile radius with an average household income of $111,334

CENTRAL LOCATION NEAR MULTIPLE COMMUNITY ATTRACTIONS AND OUTDOOR RECREATION AREAS
» Three miles from Dickinson Bayou, flowing directly into Galveston Bay, the seventh largest estuary in the U.S., which offers boating, fishing, camping, kayaking, and water skiing to millions of annual visitors
» Central location between popular attractions like Johnson Space Center, Bayou Wildlife Zoo, Space Center Houston, Bayou Golf Course, Challenger Seven Memorial Park, and Chester L. Davis Sportsplex

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Take 5 Oil Change is experiencing explosive growth and recently announced franchising plans



Property Description

The property is conveniently located and easily accessible from Farm to Market 646 Road West, a heavily trafficked thoroughfare that provides a major economic and retail corridor for Dickinson, with excellent visibility and access to 24,425 vehicles per day directly in front of the location. The property also benefits from immediate access to Interstate 45 (91,165 AADT). The location resides in a growing retail corridor and is within four miles of six major shopping centers, which feature a combined 2.4 million SF of retail space and 287 stores, including Walmart, Super Target, The Home Depot, Lowe’s, JCPenney, Hobby Lobby, Burlington, T.J. Maxx, and more.

The property is supported by an affluent customer base in a densely populated residential area; 100,844 people live within a five-mile radius of the location, with an average household income of $109,037. Visibility is increased by the site’s central location near multiple community attractions and outdoor recreation areas. The property is three miles from Dickinson Bayou, flowing directly into Galveston Bay (the seventh largest estuary in the U.S.), offering boating, fishing, camping, kayaking, and water skiing to millions of annual visitors. The property benefits from its location between several popular tourist attractions, including Johnson Space Center, Bayou Wildlife Zoo, Space Center Houston, Bayou Golf Course, Challenger Seven Memorial Park, and Chester L. Davis Sportsplex.

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