Take 5 Oil Change

Property Details

Asking Price:
$1,500,000
Tenancy:
Single Tenant
Property Type:
Single Tenant
Lease Type:
Absolute NNN
Square Footage:
1,438 sqft
Year Built:
2022
NOI:
$75,000

Take 5 Oil Change

War Room

Confidentiality Agreement

Property Overview

  • Brand new corporate 12-year Ground Lease with a guarantee from Driven Brands Holdings Inc.
  • Strong daily needs with Walmart Supercenter, Albertsons and Kroger at the greater intersection
  • The intersection of Broadway Blvd and Rowlett Rd carries over 52,000 VPD
  • Outparcel to Albertsons with a hard corner location at a signalized intersection
  • Income tax free state
  • 10% increases throughout the primary term and option periods
  • Excellent demos with over 102,000 people and average household incomes in excess of $80,000 within a 3-mile radius of the site
  • Property is located within the largest MSA in Texas (Dallas-Fort Worth)

This ± 1,438 square foot Take 5 Oil Change is situated on a ± 0.44 acre outparcel to the Albertsons grocery store at the SEC of Broadway Boulevard and Rowlett Road in the established trade area of Garland, Texas. The site is located at the hard corner of a signalized intersection with excellent street exposure to a combined traffic count of 52,768 vehicles per day along Broadway Blvd and Rowlett Rd. Take 5 Oil Change signed a corporate 12-year ground lease with four 5-year options featuring 10% rental increases throughout the primary term and option periods with a guarantee from the parent company, Driven Brands Holdings Inc. The property is well located within the Dallas-Fort Worth trade area with downtown Dallas approximately 12 miles west of the site. The city of Garland is the 13th most populated city in Texas with a population of 249,846 people.

The Dallas-Fort Worth Metroplex is the largest metropolitan area in Texas, the largest in the South, and fourth largest in the U.S. with a population of 7,694,138 according to a May 2021 FRED Economic Data Estimate. Dallas-Fort Worth led the nation in population growth for the past decade (2010-2019), adding 1,349,378 residents to its population. Dallas Business Journal reports Dallas-Fort Worth could see an increase in nearly 1,350,000 residents by 2029 making Dallas-Fort Worth the number one metro in the country for population growth for the second consecutive decade. Overall, Dallas-Fort Worth is the 20th largest metro economy in the world and has a gross metro product exceeding $472 billion. As a result, the Dallas-Fort Worth Metroplex benefits from the 24 Fortune 500 company headquarters and the 43 Fortune 1000 headquarters located throughout Dallas-Fort Worth. Low taxes, a low cost of doing business, and a business-friendly environment continue to drive new job growth and attract new residents to the area.

This Take 5 Oil Change benefits from an extremely dense three-mile population with over 102,000 people and average household incomes over $80,000 per year. The greater intersection of Broadway Blvd and Rowlett Rd is one of the strongest daily needs intersections in the Garland market boasting three national grocery stores that include Walmart Supercenter, Kroger and Albertsons. In addition to the strong daily needs, the intersection is a thriving retail corridor with national retailers that include Planet Fitness, Northern Tool, Starbucks, Burger King, Bank of America, Dutch Bros, Whataburger, KFC, Taco Bell, Wendy’s, mcdonald’s, Chili’s, Chase Bank, carenow, IHOP, AT&T and Wing Stop among others. Located in a thriving daily needs retail corridor, excellent exposure at a signalized intersection and a corporate lease with a guarantee from Driven Brands Holdings Inc., this Take 5 Oil Change gives a buyer the potential opportunity to own an asset that is built for long-term stability.