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Take 5 Oil Change Ground Lease, Lilburn, GA

Take 5 Oil Change Ground Lease

GA, USA

Price $1,104,000
Cap Rate
NOI $69,000
Lease Term 10 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Utilities, Insurance, and Maintenance, Including Roff, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2017
Building Size 1,500 SF
Lot Size 0.96 Acres (41,818 SF)
Status Sold
Lead Broker Information Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 10-year NNN ground lease with no landlord responsibilities
» 10% rental increases every five years, providing a hedge against inflation
» Tenant is responsible for maintaining the entire property, including the roof, structure, foundation, parking lot, and landscaped areas
» Lease guaranteed by Driven Systems, LLC (net worth over $400 million)

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Conveniently located at the intersection of Woodcliff Drive and Lawrenceville Highway, Lilburn’s primary thoroughfare, with excellent visibility and access to 32,300 vehicles per day directly in front of the property
» Lawrenceville Highway serves as Lilburn’s primary retail corridor, and the property is close to several major shopping centers and notable national tenants
» Notable retailers near the property include Kroger, Walmart Supercenter, Home Depot, Aaron’s, Sherwin-Williams, and Dollar Tree, amongst others

CENTRAL LOCATION WITH LARGE CUSTOMER BASE
» Directly adjacent to Gwinnett College’s Lilburn campus and across from Berkmar Middle School, with a total enrollment of 1,065 students
» Within one mile of Berkmar High School (3,439 students), Providence Christian Academy (645 students), and Killian Hill Christian School (412 students), creating a significant amount of vehicular traffic in the surrounding area
» 253,620 residents live and 80,899 daytime employees work within a five-mile radius 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

NEW 2017 CONSTRUCTION
» Features latest Take 5 Oil Change store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs


Property Description

SOLD

The property is conveniently located at the intersection of Woodcliff Drive and Lawrenceville Highway, Lilburn’s primary thoroughfare, with excellent visibility and access to 32,300 vehicles per day directly in front of the property. Lawrenceville Highway serves as Lilburn’s primary retail corridor, and the property is close to several major shopping centers and notable national tenants. The property is within walking distance of both Beaver Ruin Village—a shopping center featuring Kroger, Chase Bank, T-Mobile, and Sally Beauty—and Indian Trail, which is tenanted by Harbor Freight Tools, Chick-fil-A, and Papa John’s. Other notable retailers near the property include Walmart Supercenter, Home Depot, Aaron’s, Sherwin-Williams, McDonald’s, Boost Mobile, Aldi, and Dollar Tree, amongst others.

The property is centrally located near several schools and densely populated residential neighborhoods. The property is directly adjacent to Gwinnett College’s Lilburn campus and is across from Berkmar Middle School, with a total enrollment of 1,065 students. Other schools within one mile of the property include Berkmar High School (3,439 students), Providence Christian Academy (645 students), and Killian Hill Christian School (412 students), creating a significant amount of vehicular traffic in the surrounding area. Additionally, the property is supported by a large customer base; 253,620 residents live and 80,899 daytime employees work within a five-mile radius of the property, providing an excellent customer base for Take 5 Oil Change.

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