Take 5 Oil Change Bradenton,Florida

$1,832,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $1,832,000
  • Cap Rate: 5.65%
  • Rentable Square Feet: 1,430
  • Year Built: 2021
  • Lease Guarantor: Franchisee
  • Lease Type: NNN
  • Lease Term: 15 Years
  • Option Periods: 5, 5-Year Options
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: 15 Years from Close of Escrow

Description

4771 State Road 64 E.
Bradenton, FL 34208

Investment Highlights

  • Upgraded Construction Offering Outstanding Curb Appeal
  • Brand New Location, Now Open
  • New, 15-Year, Triple Net Lease Commencing at Close of Escrow
  • Brand New Location Under Construction, Opening March 2021
  • Franchisee is Gasner and Wallace TF Operations, LLC with Over 20 Years of Experience in Real Estate and Construction
  • Five, Five-Year Renewal Options With 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Located on State Road 64 / Manatee Avenue with More Than 54,000 Vehicles Per Day
  • Across the Street from Publix-Anchored Center
  • Within Walking Distance to Apartment Communities – Blue Heron Lakes (192 Units) and Blue Heron Creek (1,064 Units)
  • Part of the Sarasota-Bradenton MSA with an Average of Four Million Visitors Annually

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Take 5 Oil Change in Bradenton, Florida. This Take 5 Oil Change has a new, 15-year triple net lease which will commence upon close of escrow. This lease offers five, five-year tenant renewal options with 10 percent rent increases every five years throughout the base term and option periods. This is a new location that recently opened for business. This location is owned and operated by a strong franchisee with over 20 years of experience in real estate and construction.

This Take 5 is located on State Road 64, with more than 54,000 vehicles per day, and across the street from a Publix-anchored center. The Subject Property is within walking distance to Blue Heron Community which is comprised of two neighborhoods and more than 1,250 apartment units – Blue Heron Creek and Blue Heron Lakes. Other surrounding national retailers include Walmart Supercenter, Home Depot, Costco, Tractor Supply Company, Office Depot, Anytime Fitness, Dollar Tree, Wawa, Advance Auto Parts, Walgreens, Outback Steakhouse, Applebee’s, Dunkin Donuts, Starbucks, McDonald’s and many more. There is direct access off State Road 64 to Interstate 75 which has 127,5000 vehicles daily.

The subject property is four miles from Manatee Memorial Hospital, and Manatee Technical College with more than 1,100 students. Nine miles from the Subject Property is State College of Florida Manatee-Sarasota Campus, which has more than 11,400 students across three campuses. Sarasota-Bradenton International Airport serves the North Port-Sarasota-Bradenton Metro Area and is less than 10 miles from Take 5 in Bradenton.

This Take 5 is part of the Sarasota-Bradenton metro area which welcomes an average of four million visitors every year, making tourism a major part of the local economy. The area has very strong demographics and traffic counts. The average household income within one mile of the property is over $85,000, and over $77,700 in three miles and $70,000 in five miles.

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