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Take 5 Oil Change Ground Lease, Cypress, TX

Take 5 Oil Change Ground Lease

Price $1,238,000
Cap Rate 5.25%
NOI $65,000
Lease Term 10 Years
Lease Type Absolute NNN Corporate 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 1,450 SF
Lot Size 0.7308 Acres (31,832 SF)
Status Available
Lead Broker Information Scott Crowle
Managing 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 CORPORATE GROUND LEASE
» 10-year absolute NNN corporate 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-of-area investor

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED RETAIL CORRIDOR
» 45,680 AADT directly in front of the property along Barker Cypress Road
» Convenient access to U.S. Route 290 (120,140 AADT)
» Within five miles of 10 major shopping centers (combined 3.2 million SF of retail space and 398 stores
» 251,784 residents in a five-mile radius
» $133,236 AAHI within a three-mile radius

CENTRAL LOCATION NEAR LARGE SCHOOLS AND EMPLOYERS
» Near HCA Houston Healthcare North Cypress (163 beds, 1,400 employees, $1.7 billion in total patient revenue)
» Walking distance from Walmart Neighborhood Market
» Within five miles of nine schools with a combined 13,066 students

DYNAMIC TENANT SERVING A PRACTICAL NEED
» New 2019 construction built to Take 5’s latest prototype
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Take 5 is experiencing explosive growth
» Located in an income tax free state



Property Description

The property is conveniently located on Barker Cypress Road, a heavily trafficked thoroughfare and major economic and retail corridor for Cypress, with excellent visibility and access to 45,680 vehicles per day directly in front of the location. The property also benefits from immediate access to U.S. Route 290, which experiences a high traffic count of 120,140 AADT. The location resides in a growing retail corridor and is within five miles of 10 major shopping centers, which feature a combined 3.2 million SF of retail space and 398 stores, including Walmart Supercenter, The Home Depot, Target, Marshalls, Bed Bath & Beyond, Kroger, Cinemark Theatres, and many more. The site is also within walking distance of a Walmart Neighborhood Market.

The property is supported by an affluent customer base in a densely populated residential area; 251,784 people live within a five-mile radius of the location, with an average household income of $133,236 within a three-mile radius of the property. Visibility is increased by the site’s central location near large schools and employers. The property is near HCA Houston Healthcare North Cypress, which features 163 beds, 1,400 employees, and generates $1.7 billion in annual total patient revenue. The property also benefits from its location between several highly attended schools. The site resides within five miles of nine schools with a combined 13,066 students.

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