Skip to main content

Car Wash

Take 5 Corporate Guaranteed Car Wash

8715 OH-66, Defiance, OH 43512

Listing Price: $2,709,231

Cap Rate
6.50%
Tenant Name
Take 5 Car Wash
Years Remaining On Lease
19.1
Gross SF
3,808
Guarantor
Corporate Guarantee
Rentable SF
3,808
Price/Gross SF
$711.46
Lease Type
Absolute Net
Rent Per Square Feet
$46.24

Investment Overview

Marcus & Millichap is pleased to present for sale this fee-simple, absolute net-leased Take-5 Car Wash located at 8715 OH-66 N in Defiance, Ohio about 55 miles southwest of Toledo, Ohio and 47 miles northeast of Fort Wayne, Indiana. The freestanding single-tenant property consists of a 3,808 SF building and is situated on a 1-acre parcel of land.
This Take 5 Car Wash sits as an outparcel to a Kohl’s Department store and fronts SR-66 (OH-66), a main North-South thoroughfare, which sees vehicle counts in excess of 13,432 per day. The property also sits within the area’s main retail corridor which is home to Tractor Supply Co., Menards, Harbor Freight Tools, Captain D’s, Ashley Store, Buffalo Wild Wings, Meijer, Walmart Super Center, Chipotle, Advance Auto Parts, Walgreens, Bob Evans, Lowes’, McDonald’s, Burger King, Aldi, and numerous other National and Regional retailers.
Located a few minutes from this the property is Defiance College with 479
enrolled students and Northwest State Community College with over 6,700
enrolled students. Also nearby is ProMedica Defiance Hospital, a public hospital which is part of the ProMedica Health System, offering services in Emergencies, Cancer Care, Rehab, Surgery Center, Laboratory, Radiology, and Orthopedics. There are numerous apartment complexes surrounding the property including Wooded Acres Apartments, Belden Circle Apartments, Ralston Square Apartments (50 units), Kettering Hills Apartments (24 units), Island parkway Manor (45 units), Upton Heights, and Arlington Place. The tenant initially executed a 20-year lease and currently has 19-years of
initial term remaining with attractive 2 percent annual increases commencing
January of 2029. Driven Brands Car Wash is the world’s largest local car wash operator. Driven Brands entered the car wash industry in 2020 with the acquisition of International Car Wash Group. Driven Brands operates over 1,100 locations in 14 countries across US, Europe and Australia, with over 350 locations in the United States. The Company was founded in Germany in 1965 under the IMO brand, the name still used at its non-US locations. Driven Brands Carwash is a member of Driven Brands, the largest automotive services company in North America.

Investment Highlights

  • Corporate Guarantee | Driven Brands Inc +/- 1,100 Locations
  • Absolute NNN | Zero Landlord Responsibility
  • Property Qualifies for Bonus Depreciation
  • 19 Years of Initial Term Remaining
  • Recent (2020) Construction
  • Within Area's Main Retail Corridor

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Car Wash

Take 5 Corporate Guaranteed Car Wash

Listing Price: $2,709,231

Cap Rate
6.50%
Tenant Name
Take 5 Car Wash
Years Remaining On Lease
19.1
Gross SF
3,808
Guarantor
Corporate Guarantee
Rentable SF
3,808
Price/Gross SF
$711.46
Lease Type
Absolute Net
Rent Per Square Feet
$46.24

Investment Highlights

  • Corporate Guarantee | Driven Brands Inc +/- 1,100 Locations
  • Absolute NNN | Zero Landlord Responsibility
  • Property Qualifies for Bonus Depreciation
  • 19 Years of Initial Term Remaining
  • Recent (2020) Construction
  • Within Area's Main Retail Corridor

Investment Overview

Marcus & Millichap is pleased to present for sale this fee-simple, absolute net-leased Take-5 Car Wash located at 8715 OH-66 N in Defiance, Ohio about 55 miles southwest of Toledo, Ohio and 47 miles northeast of Fort Wayne, Indiana. The freestanding single-tenant property consists of a 3,808 SF building and is situated on a 1-acre parcel of land. This Take 5 Car Wash sits as an outparcel to a Kohl’s Department store and fronts SR-66 (OH-66), a main North-South thoroughfare, which sees vehicle counts in excess of 13,432 per day. The property also sits within the area’s main retail corridor which is home to Tractor Supply Co., Menards, Harbor Freight Tools, Captain D’s, Ashley Store, Buffalo Wild Wings, Meijer, Walmart Super Center, Chipotle, Advance Auto Parts, Walgreens, Bob Evans, Lowes’, McDonald’s, Burger King, Aldi, and numerous other National and Regional retailers. Located a few minutes from this the property is Defiance College with 479 enrolled students and Northwest State Community College with over 6,700 enrolled students. Also nearby is ProMedica Defiance Hospital, a public hospital which is part of the ProMedica Health System, offering services in Emergencies, Cancer Care, Rehab, Surgery Center, Laboratory, Radiology, and Orthopedics. There are numerous apartment complexes surrounding the property including Wooded Acres Apartments, Belden Circle Apartments, Ralston Square Apartments (50 units), Kettering Hills Apartments (24 units), Island parkway Manor (45 units), Upton Heights, and Arlington Place. The tenant initially executed a 20-year lease and currently has 19-years of initial term remaining with attractive 2 percent annual increases commencing January of 2029. Driven Brands Car Wash is the world’s largest local car wash operator. Driven Brands entered the car wash industry in 2020 with the acquisition of International Car Wash Group. Driven Brands operates over 1,100 locations in 14 countries across US, Europe and Australia, with over 350 locations in the United States. The Company was founded in Germany in 1965 under the IMO brand, the name still used at its non-US locations. Driven Brands Carwash is a member of Driven Brands, the largest automotive services company in North America.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

Financing By

MM Texture Background
MM Textured Background Lower