x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Take 5 Oil Change Ground Lease, Columbus, OH

Take 5 Oil Change Ground Lease

OH, United States

Price $650,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases November 1, 2016
Year Built October 31, 2031
Building Size 4,719 SF
Lot Size 0.53 Acres (23,113 SF)
Status Sold
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

Investment Highlights

NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» Brand new 15-year corporate absolute net lease with no landlord responsibilities, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Building built at tenant’s expense, demonstrating long-term commitment to the location

HIGH TRAFFIC LOCATION AT SIGNALIZED INTERSECTION
» Excellent visibility to 28,458 vehicles per day on Schrock Road
» Just off of Cleveland Avenue – 47,880 AADT
» Convenient access to Interstate 270, Columbus’s beltway, with 151,277 vehicles per day

CLOSE PROXIMITY TO LARGE RETAIL CENTERS AND MAJOR EMPLOYERS
» Schrock Road is a retail corridor featuring major national tenants, including Walmart, Petco, CVS, and Kroger
» Near Polaris Fashion Place, a high-end mall and retail plaza with upscale tenants, including Von Maur and Saks Fifth Avenue
» Immediate proximity to Mount Carmel Saint Ann’s, a 283-bed hospital with over 7,000 employees

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. (2,000+ 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 located at the signalized intersection of Schrock Hill Court and Schrock Road, with 28,458 vehicles per day directly in front of the site. Cleveland Avenue, located one block east of the site, is a major thoroughfare with a high traffic count of 47,880 vehicles per day. Cleveland Avenue offers convenient access to Interstate 270, Columbus’s beltway, which boasts a traffic count of 151,277 vehicles per day. The property benefits from its close proximity to several major retailers, including CVS, Home Depot, Dollar General, and Wendy’s. A number of large shopping centers are located near the site; Westerville Square, anchored by Walmart Supercenter, and Westerville Plaza, anchored by Kroger, are less than a mile and a half from the property. The property is also less than three miles from Polaris Fashion Place, a premier shopping mall anchored by Macy’s, Sears, JCPenney, and Von Maur.

The property benefits from its close proximity to several schools and major employers. Mount Carmel Saint Ann’s, located two blocks from the property, is a 283-bed hospital with over 7,000 employees. Additionally, a number of schools are near the site, including Otterbein University, Westerville South High School, Westerville North High School, and Beechcroft High School. The three high schools have a combined enrollment of 3,578 students and the university has an enrollment of 2,997 students. Additionally, nearly 157,000 daytime employees and over 248,000 residents work and live within a five-mile radius of the property, providing a large customer base for Take 5 Oil Change.

Contact Us About This Property

Scott & Mike Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link