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Car Wash

Take 5 Corporate Guaranteed Car Wash

704 Chapman Dr, Monticello, AR 71655

Listing Price: $4,331,400

Cap Rate
6.50%
Tenant Name
Take 5 Car Wash
Years Remaining On Lease
19.1
Gross SF
5,684
Guarantor
Corporate Guarantee
Rentable SF
5,684
Price/Gross SF
$762.03
Lease Type
Absolute Net
Rent Per Square Feet
$49.53

Investment Overview

Marcus & Millichap is pleased to present for sale this fee-simple, absolute net-leased Take-5 Car Wash located at 704 Chapman Road in Monticello, Arkansas. The freestanding single-tenant property consists of a 5,684 SF building and is situated on a large 2-acre parcel of land.
This Take 5 Car Wash sits across from a Walmart Supercenter Anchored Shopping Center and fronts RT-35, a major thoroughfare, which sees vehicle counts in excess of 14,000 per day. Within the immediate trade area you’ll find a plethora of national and regional retailers including but not limited to
Walmart Supercenter, Bealls, Wendy’s, McDonald’s, Taco Bell, Popeye’s, AT&T, Walgreens, Sonic, DQ, and numerous others. Located a few minutes from this Take 5 Car Wash is The University of Arkansas-
Monticello with 3,925 enrolled students. Also nearby is the CHI St. Vincent Heart Clinic. There are also numerous apartment complexes surrounding the property including Pine Valley Apartments and Meadowview Apartments. The tenant initially executed a 20-year lease and currently has 19-years of
initial term remaining with attractive 2 percent annual increases commencing
in 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 (2022) Construction
  • Within Area's Main Retail Corridor

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s) AR: PB00066390

    Arkansas

Car Wash

Take 5 Corporate Guaranteed Car Wash

Listing Price: $4,331,400

Cap Rate
6.50%
Tenant Name
Take 5 Car Wash
Years Remaining On Lease
19.1
Gross SF
5,684
Guarantor
Corporate Guarantee
Rentable SF
5,684
Price/Gross SF
$762.03
Lease Type
Absolute Net
Rent Per Square Feet
$49.53

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 (2022) 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 704 Chapman Road in Monticello, Arkansas. The freestanding single-tenant property consists of a 5,684 SF building and is situated on a large 2-acre parcel of land. This Take 5 Car Wash sits across from a Walmart Supercenter Anchored Shopping Center and fronts RT-35, a major thoroughfare, which sees vehicle counts in excess of 14,000 per day. Within the immediate trade area you’ll find a plethora of national and regional retailers including but not limited to Walmart Supercenter, Bealls, Wendy’s, McDonald’s, Taco Bell, Popeye’s, AT&T, Walgreens, Sonic, DQ, and numerous others. Located a few minutes from this Take 5 Car Wash is The University of Arkansas- Monticello with 3,925 enrolled students. Also nearby is the CHI St. Vincent Heart Clinic. There are also numerous apartment complexes surrounding the property including Pine Valley Apartments and Meadowview Apartments. The tenant initially executed a 20-year lease and currently has 19-years of initial term remaining with attractive 2 percent annual increases commencing in 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

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s): AR: PB00066390

    Arkansas

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