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Take 5 Oil Change Ground Lease, Houston, TX

Take 5 Oil Change Ground Lease

Price $500,000
Cap Rate 5.00%
NOI $25,000
Lease Term 11 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 2020
Building Size 1,420 SF
Lot Size ±0.26 Acres (11,526 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
» 11-year absolute NNN ground lease with four (4) five-year option periods
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal passive investment for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Leased to corporate entity with more than 450 units

SIGNALIZED HARD-CORNER LOCATION IN DENSELY POPULATED AND GROWING TEXAS MARKET
» Combined 53,420 AADT at the signalized four-way intersection of Farm to Market 1960 Road E and Aldine Westfield Road
» 196,584 residents within a five-mile radius of the property
» Beneficial proximity to Interstate 45 (293,661 AADT) and Hardy Toll Road (64,746 AADT), increasing traffic to the location
» Supported by a growing customer base, with a projected population increase of eight percent within a five-mile radius of the site in the next five years
» Projected 13 percent AAHI increase within a one-mile radius of the site in the next five years, poising Houston and Take 5 Oil Change for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to Cypress Landing Shopping Center, featuring national retailers such as Subway, Papa John’s Pizza, and Dollar Tree
» Surrounded by several well-established national retailers, including McDonald’s, KFC, Starbucks, Popeyes, Pizza Hut, Walgreens, and many more
» 1.5 miles from Lone Star College – North Harris (18,478 students)
» Gateway to Downtown Houston, the fourth most populous city in the U.S.

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
» New 2020 construction
» Located in an income tax free state



Property Description

Road E and Aldine Westfield Road, with visibility and access to 53,420 vehicles per day in front of the site. The property also benefits from its proximity to Interstate 45 (293,661 AADT) and Hardy Toll Road (64,746 AADT), significantly increasing traffic to the site. The location resides in a densely populated area, with 196,584 residents living within a five-mile radius of the property. The location is also supported by a growing customer base, with a projected population increase of eight percent within a five-mile radius of the site in the next five years. The location is primed to grow along with the surrounding area, with a projected 13 percent average annual household income increase within one mile of the site in the next five years.

The site maintains a central location near large employers, retailers, and community hubs. The property is an outparcel to Cypress Landing Shopping Center, which features national retailers such as Subway, Papa John’s Pizza, and Dollar Tree, promoting crossover shopping to the location. The site is surrounded by several well-established local and national retailers, including McDonald’s, KFC, Starbucks, Popeyes, Pizza Hut, Walgreens, and many more. The location also resides 1.5 miles from Lone Star College – North Harris (18,478 students). The location serves as a common gateway to downtown Houston, the fourth most populous city in the U.S.

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