Auto Service - Gas-Conv

Take 5 Oil Change Ground Lease

112 S Morrison Blvd, Hammond, LA 70403

Listing Price: $1,103,000

Cap Rate
6.25%
Tenant Name
Take 5 Properties SPV LLC
Years Remaining On Lease
8.5
Guarantor
Corporate Guarantee
Rentable SF
2,165
Lease Type
NNN Ground Lease
Rent Per Square Feet
$31.83

Investment Overview

The hard corner site next door to the subject property is available to purchase along with Take 5 as a portfolio, giving a new owner control of the entire corner. See pages 9-11 of the OM/marketing brochure for details. Take 5 offers a drive-thru oil change service that allows customers to remain in their cars while a technician changes the car’s oil and filter, fills vital fluids, and checks tire pressure. There are over 500 Take 5 locations throughout the U.S. Take 5 is one of ten aftermarket automotive brands owned by Driven Brands. Driven Brands is the largest group of automotive aftermarket service companies in the United States, with more than 2,600 centers generating over $2.5 billion in sales in North America.

Investment Highlights

  • Located at High Traffic Intersection (56,300+ Cars/Day)
  • Hard Corner Site Next Door is Available to Purchase as a Portfolio, Giving a New Owner Control of the Entire Corner – See Pages 9-11 of the OM for Details
  • Absolute Triple-Net (NNN) Corporate Ground Lease with Take 5 Oil Change
  • 9 Years Remaining on Lease Term - Tenant Extended the Lease for an Additional 10 Years in 2019
  • 2% Annual Rental Increases
  • 61,862 Residents within a 5-Mile Radius - Growing Hammond Trade Area

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

Auto Service - Gas-Conv

Take 5 Oil Change Ground Lease

Listing Price: $1,103,000

Cap Rate
6.25%
Tenant Name
Take 5 Properties SPV LLC
Years Remaining On Lease
8.5
Guarantor
Corporate Guarantee
Rentable SF
2,165
Lease Type
NNN Ground Lease
Rent Per Square Feet
$31.83

Investment Highlights

  • Located at High Traffic Intersection (56,300+ Cars/Day)
  • Hard Corner Site Next Door is Available to Purchase as a Portfolio, Giving a New Owner Control of the Entire Corner – See Pages 9-11 of the OM for Details
  • Absolute Triple-Net (NNN) Corporate Ground Lease with Take 5 Oil Change
  • 9 Years Remaining on Lease Term - Tenant Extended the Lease for an Additional 10 Years in 2019
  • 2% Annual Rental Increases
  • 61,862 Residents within a 5-Mile Radius - Growing Hammond Trade Area

Investment Overview

The hard corner site next door to the subject property is available to purchase along with Take 5 as a portfolio, giving a new owner control of the entire corner. See pages 9-11 of the OM/marketing brochure for details. Take 5 offers a drive-thru oil change service that allows customers to remain in their cars while a technician changes the car’s oil and filter, fills vital fluids, and checks tire pressure. There are over 500 Take 5 locations throughout the U.S. Take 5 is one of ten aftermarket automotive brands owned by Driven Brands. Driven Brands is the largest group of automotive aftermarket service companies in the United States, with more than 2,600 centers generating over $2.5 billion in sales in North America.

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

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