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Auto Service - Gas-Conv

Take 5 Oil Change | Outparcel to Walmart & Lowe’s

1846 S Lake Dr, Lexington (Columbia MSA), SC 29073

Listing Price: $1,627,000

Cap Rate
6.15%
Tenant Name
Take 5 Oil Change
Years Remaining On Lease
14.9
Guarantor
Franchisee Guarantee
Rentable SF
1,450
Lease Type
NNN Ground Lease
Rent Per Square Feet
$68.97

Investment Overview

IN FRONT OF A WALMART SUPERCENTER & LOWE’S HOME IMPROVEMENT
• This Take 5 is positioned on Hwy 6 (26,000 VPD) in front of a Walmart Supercenter and Lowe’s Home Improvement.
• The Walmart Supercenter ranks in the top 92% of Walmarts in South Carolina and is in the top 83% in the country (Placer.ai).
• The Lowe’s Home Improvement ranks in the top 78% of Lowe’s in the country (Placer.ai).
• Additional new development in front of the Walmart & Lowe’s includes ALDI, Starbucks, Taco Bell, Davita, Popshelf, and more.
• A 57 acre mixed use development is planned across the street from Take 5. Some of the tenants will include Lowe’s Foods, Chipotle, Panda Express and more. Phase one will open Q1 2025.
• Other nearby new development includes a Publix Shopping Center, Chick-fil-A, Tractor Supply Co.
• White Knoll High School is directly behind this Take 5 and has 2,165 Students and 1,407 employees.

HIGH GROWTH COLUMBIA SUBURB (25% POPULATION GROWTH )
• Columbia is the capital and the second largest city in South Carolina with a population of over 131,700.
• Fort Jackson, the largest United States Army Installation for Basic Combat Training, is located in Columbia. Over 3,500 civilians are employed at Fort Jackson and 46,000 retirees receive services from this base.
• The University of South Carolina is located in Columbia and is the largest university in South Carolina with a student population of 36,273.
• The Columbia Metropolitan Airport is 4 Miles from this Take 5. This airport supports over 1.1 million passengers per year and employs over 1,400 people.
• The 5 Mile Population is 63,304 with over 25% growth.

LONG TERM GROUND LEASE WITH INCREASES
• The subject property has a new 15-year NNN ground lease that commenced April 2024.
• This is an absolute NNN ground lease and the tenant is 100% responsible for all taxes, insurance, CAM, roof and structure.
• There are attractive 10% rent increases every 5 years in the initial term and in each of the four, 5-Year options.

TAKE 5 OIL CHANGE ( “TAKE 5” )
• Founded in Metairie, LA in 1984 and is currently the fastest growing quick service oil change operator in the United States.
• Owned by Driven Brands, a ~$2.4 billion market capitalization business (NAS: DRVN) based in Charlotte, NC.
• Take 5 currently has over 1,000 locations between corporate and franchisee locations, with plans to grow to over 2,000 units in the next handful of years.
• The business model revolutionized the quick service oil change space by introducing the “stay in your car” concept while focusing on ~10 minute oil change services.

RAPIDLY EXPANDING OPERATOR
• Take 5 Carolinas was the first franchisee of what is now a group of 50-60 franchisees in the US and Canada and is one of the most experienced operators in the system.
• Based in Charlotte, NC, Take 5 Carolinas began operating its first location in 2017 and is currently operating 17 locations across North Carolina and South Carolina, predominately in the Charlotte and Columbia DMAs.
• Compelling risk and cash flow profile as the franchisee will have more than 80% of its current territory open in the next 12 months.
• Take 5 only has five franchisees with more than 15 locations open.

Investment Highlights

  • 15 Year NNN Ground Lease With 10% Increases
  • In Front Of Walmart & Lowe's Home Improvement
  • Dynamic Retail Corridor Hwy 6 26,000 VPD
  • Across From Publix And New Lowe's Foods Development
  • Growing Columbia Suburb 5 Mile Pop Growth: 25%
  • Take 5 Has 1000 Locations In 19 States

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Auto Service - Gas-Conv

Take 5 Oil Change | Outparcel to Walmart & Lowe’s

Listing Price: $1,627,000

Cap Rate
6.15%
Tenant Name
Take 5 Oil Change
Years Remaining On Lease
14.9
Guarantor
Franchisee Guarantee
Rentable SF
1,450
Lease Type
NNN Ground Lease
Rent Per Square Feet
$68.97

Investment Highlights

  • 15 Year NNN Ground Lease With 10% Increases
  • In Front Of Walmart & Lowe's Home Improvement
  • Dynamic Retail Corridor Hwy 6 26,000 VPD
  • Across From Publix And New Lowe's Foods Development
  • Growing Columbia Suburb 5 Mile Pop Growth: 25%
  • Take 5 Has 1000 Locations In 19 States

Investment Overview

IN FRONT OF A WALMART SUPERCENTER & LOWE’S HOME IMPROVEMENT • This Take 5 is positioned on Hwy 6 (26,000 VPD) in front of a Walmart Supercenter and Lowe’s Home Improvement. • The Walmart Supercenter ranks in the top 92% of Walmarts in South Carolina and is in the top 83% in the country (Placer.ai). • The Lowe’s Home Improvement ranks in the top 78% of Lowe’s in the country (Placer.ai). • Additional new development in front of the Walmart & Lowe’s includes ALDI, Starbucks, Taco Bell, Davita, Popshelf, and more. • A 57 acre mixed use development is planned across the street from Take 5. Some of the tenants will include Lowe’s Foods, Chipotle, Panda Express and more. Phase one will open Q1 2025. • Other nearby new development includes a Publix Shopping Center, Chick-fil-A, Tractor Supply Co. • White Knoll High School is directly behind this Take 5 and has 2,165 Students and 1,407 employees. HIGH GROWTH COLUMBIA SUBURB (25% POPULATION GROWTH ) • Columbia is the capital and the second largest city in South Carolina with a population of over 131,700. • Fort Jackson, the largest United States Army Installation for Basic Combat Training, is located in Columbia. Over 3,500 civilians are employed at Fort Jackson and 46,000 retirees receive services from this base. • The University of South Carolina is located in Columbia and is the largest university in South Carolina with a student population of 36,273. • The Columbia Metropolitan Airport is 4 Miles from this Take 5. This airport supports over 1.1 million passengers per year and employs over 1,400 people. • The 5 Mile Population is 63,304 with over 25% growth. LONG TERM GROUND LEASE WITH INCREASES • The subject property has a new 15-year NNN ground lease that commenced April 2024. • This is an absolute NNN ground lease and the tenant is 100% responsible for all taxes, insurance, CAM, roof and structure. • There are attractive 10% rent increases every 5 years in the initial term and in each of the four, 5-Year options. TAKE 5 OIL CHANGE ( “TAKE 5” ) • Founded in Metairie, LA in 1984 and is currently the fastest growing quick service oil change operator in the United States. • Owned by Driven Brands, a ~$2.4 billion market capitalization business (NAS: DRVN) based in Charlotte, NC. • Take 5 currently has over 1,000 locations between corporate and franchisee locations, with plans to grow to over 2,000 units in the next handful of years. • The business model revolutionized the quick service oil change space by introducing the “stay in your car” concept while focusing on ~10 minute oil change services. RAPIDLY EXPANDING OPERATOR • Take 5 Carolinas was the first franchisee of what is now a group of 50-60 franchisees in the US and Canada and is one of the most experienced operators in the system. • Based in Charlotte, NC, Take 5 Carolinas began operating its first location in 2017 and is currently operating 17 locations across North Carolina and South Carolina, predominately in the Charlotte and Columbia DMAs. • Compelling risk and cash flow profile as the franchisee will have more than 80% of its current territory open in the next 12 months. • Take 5 only has five franchisees with more than 15 locations open.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

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