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Auto Service - Gas-Conv

Take 5-New Corporate Ground Lease with Upside

60 Harper Ln, Saint Johns, FL 32259

Listing Price: $1,714,285

Cap Rate
5.25%
Tenant Name
Take 5
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
1,500
Lease Type
Ground Lease
Rent Per Square Feet
$60.00

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase a corporately guaranteed Take 5 Oil Change property located at 60 Harper Ln, Saint Johns, FL which is part of the Jacksonville MSA.

This investment opportunity consists of a drive-thru quick lube service station situated on an oversized 1.35-acre parcel of land. Take 5 signed a brand new 15-year lease with a corporate guarantee from Driven Bands, Inc. It has frontage on Race Track Road, a major east-west corridor with a total traffic count of 35,000+ vehicles per day and is part of Durbin Creek Crossing, a mixed-use development which includes Ascend, a 350-unit multifamily community by D.R Horton.

Saint Johns, Florida is a picturesque and flourishing suburban haven, offering a high quality of life for families and individuals alike. Boasting high median household income and a diverse range of employment sectors, it promises ample opportunities for its residents, as well as being the perfect destination for millions of tourists year-round.

Take 5 Oil Change is a leading brand in the quick lube industry, known for its drive-thru oil change service that allows customers to stay in their cars during the service. The company prides itself on its efficient, friendly service, and its commitment to using high-quality products. Founded in 1984 in Metairie, Louisiana, Take 5 Oil Change has since expanded nationwide, with hundreds of locations across the United States. The company's services extend beyond oil changes to include other preventive maintenance services such as air filter replacement, wiper blade replacement, and coolant exchanges, making it a convenient one-stop-shop for many customers' automotive maintenance needs.

Investment Highlights

  • Corporate Guarantee From $4 Billion Company (NYSE: DRVN)
  • Brand New 15 Year Primary Lease Term
  • Oversized 1.35 Acre Parcel – Strong Residual Value and Upside
  • Part of Durbin Creek Crossing – 70-Acre Mixed Use Development
  • Frontage on Racetrack Road - Traffic Counts of 35K+ Vehicles Per Day
  • 10% Rental Increases Every Five Years
  • Strong Demographics – 100K+ People Within 5 Miles
  • Affluent Surrounding Neighborhood - $136,000 Median Household Income Within 1 Mile

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Take 5-New Corporate Ground Lease with Upside

Listing Price: $1,714,285

Cap Rate
5.25%
Tenant Name
Take 5
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
1,500
Lease Type
Ground Lease
Rent Per Square Feet
$60.00

Investment Highlights

  • Corporate Guarantee From $4 Billion Company (NYSE: DRVN)
  • Brand New 15 Year Primary Lease Term
  • Oversized 1.35 Acre Parcel – Strong Residual Value and Upside
  • Part of Durbin Creek Crossing – 70-Acre Mixed Use Development
  • Frontage on Racetrack Road - Traffic Counts of 35K+ Vehicles Per Day
  • 10% Rental Increases Every Five Years
  • Strong Demographics – 100K+ People Within 5 Miles
  • Affluent Surrounding Neighborhood - $136,000 Median Household Income Within 1 Mile

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase a corporately guaranteed Take 5 Oil Change property located at 60 Harper Ln, Saint Johns, FL which is part of the Jacksonville MSA. This investment opportunity consists of a drive-thru quick lube service station situated on an oversized 1.35-acre parcel of land. Take 5 signed a brand new 15-year lease with a corporate guarantee from Driven Bands, Inc. It has frontage on Race Track Road, a major east-west corridor with a total traffic count of 35,000+ vehicles per day and is part of Durbin Creek Crossing, a mixed-use development which includes Ascend, a 350-unit multifamily community by D.R Horton. Saint Johns, Florida is a picturesque and flourishing suburban haven, offering a high quality of life for families and individuals alike. Boasting high median household income and a diverse range of employment sectors, it promises ample opportunities for its residents, as well as being the perfect destination for millions of tourists year-round. Take 5 Oil Change is a leading brand in the quick lube industry, known for its drive-thru oil change service that allows customers to stay in their cars during the service. The company prides itself on its efficient, friendly service, and its commitment to using high-quality products. Founded in 1984 in Metairie, Louisiana, Take 5 Oil Change has since expanded nationwide, with hundreds of locations across the United States. The company's services extend beyond oil changes to include other preventive maintenance services such as air filter replacement, wiper blade replacement, and coolant exchanges, making it a convenient one-stop-shop for many customers' automotive maintenance needs.

Exclusively Listed By

Financing By

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