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.
