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Take 5 Oil Change, Columbia City, IN

Take 5 Oil Change

Columbia City, Indiana

Price $1,528,000
Cap Rate 5.50%
NOI $84,000
Lease Term 15 Years
Lease Type Absolute NNN, 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 2001 (Retrofitted In 2022)
Building Size 2,280 SF
Lot Size 0.46 Acres (20,038 SF)
Status Available
Lead Broker Information Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Russell Train
Brokerage
202.210.2379
russell.train@cushwake.com
CA RE License #02087816

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN WITH A STRONG GUARANTY
» New 15-year absolute NNN lease with a strong guaranty from one of the largest Take 5 franchisees in the country
» Take 5 is a subsidiary of Driven Brands, Inc. (4,500 units with over $4.7 billion in annual system-wide sales)
» 10% rental increases every five (5) years in initial term and option periods, providing a hedge against inflation
» No landlord responsibilities, ideal for an out-of-town investor

ACROSS FROM THE ONLY WALMART SUPERCENTER IN THE TRADE AREA WITH ACCESS TO OVER 34K DAILY VEHICLES
» Located in the primary retail corridor for Columbia City directly across from the only Walmart Supercenter in the trade area
» Conveniently located along U.S. Route 30 just off North Line Street, with excellent visibility and access to a combined 34,828 vehicles per day at the signalized intersection
» U.S. Route 30 is the primary east/west thoroughfare between Chicago and Fort Wayne
» Outparcel to an Aldi-anchored shopping center and adjacent to a Starbucks location currently under construction
» Average annual household income of $73,565 within five miles (projected to increase 10% in the next five years) – an ideal demographic for oil change concepts

CENTRAL LOCATION NEAR MAJOR SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Walking distance from Columbia City High School (1,082 students) and Whitley County Fairgrounds
» Minutes from Parkview Whitley Hospital (238 beds)
» Columbia City hosts all three of the largest employers in the county – Steel Dynamics Inc, Steel Dynamics Structural-rail, and Undersea Sensor Systems

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Building retrofitted in 2022 and features two bays, which historically increases profit margins
» 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
» Take 5 Oil Change was awarded the J.D. Power award for highest overall customer satisfaction in quick oil change in 2021


Property Description

This Take 5 Oil Change is conveniently located along U.S. Route 30 just off North Line Street, with excellent visibility and access to a combined 34,828 vehicles per day at the signalized intersection. U.S. Route 30 is the primary east/west thoroughfare between Chicago and Fort Wayne. The site is less than a mile from State Route 9/North Main Street (13,214 AADT), a long north-south state highway in eastern Indiana. The property is located directly across from the only Walmart Supercenter in the trade area, outparcel to Aldi, and in the primary retail corridor in Columbia City.

The site is walking distance from Columbia City High School (1,082 students) and Whitley County Fairgrounds, with Parkview Whitley Hospital (238 beds) only minutes away. The average annual household income is $73,565 within five miles and is projected to increase 10 percent in the next five years. Columbia City features a strong manufacturing sector and good job market as it hosts the three of the largest employers in the county.

Contact Us About This Property


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