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Auto Service - Gas-Conv

Take 5 Oil Change (Absolute NNN)

1727 N Rock Rd, Derby, KS 67037

Listing Price: $1,636,363

Cap Rate
5.50%
Tenant Name
Take 5 Oil Change
Years Remaining On Lease
11.9
Guarantor
Franchisee Guarantee
Rentable SF
1,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$60.00

Investment Overview

NEW CONSTRUCTION | NEW 12-YEAR ABSOLUTE NNN LEASE The subject property is a freestanding, fee simple, single tenant Take 5 Oil Change. The building is under construction with targeted completion in Q4 2022. The property will operate under a 12-year absolute NNN lease, with no landlord management or maintenance responsibilities whatsoever, which shall commence upon the close of escrow. 2% ANNUAL RENT INCREASES The new absolute NNN lease offers attractive 2% annual rent increases during the primary term. There are four, 5-year option periods with 8% rent increases every 5-years. DIRECT STREET FRONTAGE | SYNERGISTIC RETAIL LOCATION The subject property is part of a heavily trafficked retail hub in Derby on N Rock Road. It is adjacent to a Mattress Firm, ALDI, NEXTCARE Urgent Care and Hardee’s. The area also boasts strong demographics with 20,903 VPD on N Rock Road and an Average HH Income of $104,921 within a 1-Mile Radius. The Rock Regional Hospital, an 89,466 square foot facility, is also less than a 1-Mile radius away from the immediate trade area. TAKE 5 OIL CHANGE IS A DIVISION OF DRIVEN BRANDS(1) Take 5 Oil Change brand is owned by Driven Brands (NAS: DRVN), which is based in Charlotte, NC and has a market cap of $4.4 Billion. In recent years, Take 5 Oil Change has exploded to 629 locations with plans to expand the company’s footprint to over 2,000 locations over the next 10 years. While trends were already very strong, COVID-19 strengthened the value of the “stay in your car” concept and Take 5 revolutionized the quick service oil change space and has resulted in revenues growing even faster.

Investment Highlights

  • NEW CONSTRUCTION | NEW 12-YEAR ABSOLUTE NNN LEASE
  • 2% ANNUAL RENT INCREASES
  • TAKE 5 OIL CHANGE IS A DIVISION OF DRIVEN BRANDS

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Auto Service - Gas-Conv

Take 5 Oil Change (Absolute NNN)

Listing Price: $1,636,363

Cap Rate
5.50%
Tenant Name
Take 5 Oil Change
Years Remaining On Lease
11.9
Guarantor
Franchisee Guarantee
Rentable SF
1,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$60.00

Investment Highlights

  • NEW CONSTRUCTION | NEW 12-YEAR ABSOLUTE NNN LEASE
  • 2% ANNUAL RENT INCREASES
  • TAKE 5 OIL CHANGE IS A DIVISION OF DRIVEN BRANDS

Investment Overview

NEW CONSTRUCTION | NEW 12-YEAR ABSOLUTE NNN LEASE The subject property is a freestanding, fee simple, single tenant Take 5 Oil Change. The building is under construction with targeted completion in Q4 2022. The property will operate under a 12-year absolute NNN lease, with no landlord management or maintenance responsibilities whatsoever, which shall commence upon the close of escrow. 2% ANNUAL RENT INCREASES The new absolute NNN lease offers attractive 2% annual rent increases during the primary term. There are four, 5-year option periods with 8% rent increases every 5-years. DIRECT STREET FRONTAGE | SYNERGISTIC RETAIL LOCATION The subject property is part of a heavily trafficked retail hub in Derby on N Rock Road. It is adjacent to a Mattress Firm, ALDI, NEXTCARE Urgent Care and Hardee’s. The area also boasts strong demographics with 20,903 VPD on N Rock Road and an Average HH Income of $104,921 within a 1-Mile Radius. The Rock Regional Hospital, an 89,466 square foot facility, is also less than a 1-Mile radius away from the immediate trade area. TAKE 5 OIL CHANGE IS A DIVISION OF DRIVEN BRANDS(1) Take 5 Oil Change brand is owned by Driven Brands (NAS: DRVN), which is based in Charlotte, NC and has a market cap of $4.4 Billion. In recent years, Take 5 Oil Change has exploded to 629 locations with plans to expand the company’s footprint to over 2,000 locations over the next 10 years. While trends were already very strong, COVID-19 strengthened the value of the “stay in your car” concept and Take 5 revolutionized the quick service oil change space and has resulted in revenues growing even faster.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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