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Take 5 Oil Change Ground Lease, Lubbock, TX

Take 5 Oil Change Ground Lease

Price $500,000
Cap Rate 5.00%
NOI $25,046
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 2019
Building Size 1,408 SF
Lot Size 0.43 Acres (18,731 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 NNN 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-ofarea investor
» Leased to corporate entity with more than 450 units

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located along19th Street, which experiences a high traffic count of 31,440 vehicles per day in front of the site
» Immediate access to West Loop 289 (67,254 AADT)
» Within walking distance of Gene Messer Toyota & Kia (460+ new and used cars for sale), Buffalo Wild Wings, Freddy’s Frozen Custard & Steakburgers, Sonic Drive-In, CVS, Dollar General, and KFC

EXCELLENT LOCATION WITH STRONG CUSTOMER BASE
» Surrounded by several large universities and schools
» Minutes from Texas Tech University, which has 36,551 students and 2,554 employees, and Lubbock Christian University, which has a total enrollment of 2,028 students and 156 employees
» North Ridge Elementary School, which has 696 students, Terra Vista Middle School, which has 590 students, and Westwind Elementary School, which has 679 Students surround the property on three sides
» 164,214 residents live 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
» Take 5 is experiencing explosive growth and recently announced franchising plans



Property Description

The property is strategically located along 19th Street, which experiences a high traffic count of 31,440 vehicles per day. The property benefits from immediate access to West Loop 289 (67,254 AADT). The property is located in a dense retail corridor and is within walking distance of Gene Messer Toyota & Kia (460+ new and used cars for sale), Buffalo Wild Wings, Freddy’s Frozen Custard & Steakburgers, Sonic Drive-In, CVS, Dollar General, and KFC.

The property is close to several important schools and is supported by a robust customer base. The property is only eight (8) minutes from Texas Tech University, which has 36,551 students and 2,554 employees, and is three (3) minutes from Lubbock Christian University, which has a total enrollment of 2,028 students and 156 employees. The property also has several primary education schools within minutes including North Ridge Elementary School, which has 696 students, Terra Vista Middle School, which has 590 students, and Westwind Elementary School, which has 679 Students. The property is also located in a densely populated residential area; 164,214 residents live within a five-mile radius of the property, providing a sizeable customer base for Take 5.

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