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Take 5 Oil Change Ground Lease, Oklahoma City, OK

Take 5 Oil Change Ground Lease

Oklahoma City, OK

Price $1,332,000
Cap Rate 6.00%
NOI $79,866
Lease Term 10 Years
Lease Type Absolute NNN Ground Lease
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2017
Building Size 1,632 SF
Lot Size 0.43 Acres (18,750 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
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Oklahoma-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 10-year NNN lease with no landlord responsibilities
» 10% rental increases every five years in initial term and option periods, providing a hedge against inflation
» Leased to 400+ Unit Corporate Entity

HIGH-TRAFFIC LOCATION IN PRIME RETAIL AREA
» Located at signalized hard corner, with excellent visibility and access to 46,283 vehicles per day at the intersection
» Immediate access to Highway 74, the primary route through northwestern Oklahoma City, with a traffic count of 107,035 vehicles per day
» Close proximity to several major retail centers, including Penn Square Mall, an upscale regional mall, and Quail Springs Mall, a super regional mall and trade area

INFILL LOCATION WITH STRONG CUSTOMER BASE
» Less than eight miles from downtown Oklahoma City
» Within walking distance of Lake Hefner, a popular recreation area that is visited by nearly one million people per year
» Just over a mile from the headquarters of Love’s Travel Stops & Country Stores, which has 1,700 employees at its corporate campus
» 214,019 residents and 124,863 daytime employees within a five-mile radius

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Poised for explosive growth

Click Here to Download Offering Memorandum


Property Description

The property is located at the signalized hard corner of North May Avenue and West Britton Road, with excellent visibility and access to 46,283 vehicles per day at the intersection. The property enjoys immediate access to Highway 74, the primary route through northwestern Oklahoma City, with a traffic count of 107,035 vehicles per day near the property. Retail centers fill every corner of the North May Avenue and West Britton Road intersection, featuring notable tenants like Tuesday Morning, Sherwin-Williams, Goodwill, Bank of America, Cato, Subway, and more. Several major shopping centers are just minutes from the property, including Penn Square Mall—an upscale regional mall featuring Apple, Coach, Dillard’s, Banana Republic, Michael Kors, Pottery Barn, and a 10-screen AMC Theatre—and Quail Springs Mall. Other notable retailers near the property include Walmart Neighborhood Market, Dollar Tree, Planet Fitness, CVS, Ace Hardware, Sprouts Farmers Market, Half Price Books, and Bed Bath and Beyond.

The property is centrally located less than eight miles from downtown Oklahoma City. The property is also within walking distance of Lake Hefner, a popular recreation area that is visited by nearly one million people per year. Several schools are located near the property, including Casady School, a private school with over 900 students. The property is just over a mile from the headquarters of Love’s Travel Stops & Country Stores, which has 1,700 employees at its corporate campus. Densely populated residential neighborhoods also surround the property. In total, 124,863 daytime employees work and 214,019 residents live within a five-mile radius, providing an extremely large customer base.

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