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Take 5 Oil Change, Mesquite, TX

Take 5 Oil Change

TX, USA

Price $958,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 2% Annual Rental Increases Starting in August 2018
Year Built 2016
Building Size 1,908 SF
Lot Size 0.52 Acres (22,499 SF)
Status Sold
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

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

Investment Highlights

ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» Absolute NNN lease with no landlord responsibilities
» 2% annual rental increases, providing an excellent hedge against inflation
» Tenant is responsible for maintaining the entire property, including the roof, structure, foundation, parking lot, and landscaped areas

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 67,050 vehicles per day at the signalized intersection of Town East Boulevard and Gus Thomasson Road
» Convenient access to three of the region’s major thoroughfares: Interstate 635 (196,519 AADT), Interstate 30 (107,989 AADT), and U.S. Highway 80 (88,379 AADT)
» Close proximity to Town East Mall, visited by more than 18 million people annually, with some customers coming from as far away as Tyler (90 miles) and Texarkana (167 miles) to do their shopping

IRREPLACEABLE INFILL LOCATION WITH STRONG CUSTOMER BASE
» Near several schools, including Eastfield College (15,029 students and nearly 1,000 employees) and North Mesquite High School (2,754 students)
» Extremely large customer base, with 334,845 residents living and nearly 100,000 daytime employees working within a five-mile radius of the property
» Mesquite is one of the largest cities in the Dallas-Fort Worth MSA, which is, in turn, one of the largest MSAs in the country

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 strategically located at the signalized intersection of Town East Boulevard and Gus Thomasson Road, with excellent visibility and access to 67,050 vehicles per day. The property also benefits from convenient access to three of the region’s major thoroughfares: Interstate 635 (196,519 AADT), Interstate 30 (107,989 AADT), and U.S. Highway 80 (88,379 AADT). The property is located in a dense retail corridor known as Retail Row, one-third of Mesquite’s “Rows of Texas.” Several major shopping areas are located near the property, including Town East Mall, one of the largest retail destinations in the Dallas-Fort Worth area. More than 18 million people visit Town East Mall annually, often coming from as far away as Tyler (90 miles) and Texarkana (167 miles) to do their shopping. Notable tenants in the nearby area include Kroger, Aldi, Big Lots, Toys “R” Us, Guitar Center, Albertsons, Target, Academy Sports + Outdoors, Dillard’s, Best Buy, Home Depot, and countless others.

The property is close to several important community amenities and is supported by an extremely robust customer base. A number of schools surround the property, including Eastfield College, which has a total enrollment of 15,029 students and employs nearly 1,000 staff members, and North Mesquite High School, which has 2,754 students. The property is located in a densely populated residential area and is close to several business parks that are home to some of the region’s largest employers; 334,845 residents live and nearly 100,000 daytime employees work within a five-mile radius of the property, providing a sizeable customer base for Take 5.

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