Investment Highlights
- New, 15-Year, Triple Net Lease with Four, Five-Year Tenant Renewal Options with 10 Percent Rent Increases Every Five Years
- Brand New Location Now Open with Upgraded 2022 Construction Offering Outstanding Curb Appeal, Featuring Three (3) Service Bays
- Part of a Major Retail Corridor and Located Directly Adjacent to Aldi Grocery Store
- Lease is Guaranteed by Purple Square Management, LLC – Operator of Over 230 Franchise Locations in 13 States and Growing! Soon Expected to Have Approx. 250 Locations Across Multiple Brands
- Outparcel to Nature Coast Commons with Retailers Including Walmart Supercenter, Aldi, Dollar Tree, PetSmart, Best Buy, Ross, JCPenney, Cracker Barrel, Panera and 7-11
- Located on Commercial Way With 45,500 Vehicles Per Day
- Other Surrounding National Retailers Include The Home Depot, Lowes, Publix Supermarket, Winn Dixie, Big Lots, Staples, Harbor Freight Tools, Beall’s Outlet, Dollar General, Verizon, Outback Steakhouse, Applebee’s, Red Lobster, Chili’s, Wendy’s, Taco Bell, McDonald’s, Panera Bread, Burger King, Starbucks, Dunkin, Wells Fargo, Bank of America, AutoZone, Advance Auto Parts, Hampton Inn, Holiday Inn, CVS, Walgreens and Many More Ashley
- Take 5 Oil Change was Awarded #1 in Customer Satisfaction for Aftermarket Quick Oil Changes 2 Years in a Row by J.D. Power
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Take 5 Oil Change in Spring Hill, Florida. This Take 5 Oil Change has a new, 15-year triple net (NNN) lease that offers four, 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 230 franchise locations in 13 states across multiple brands, soon expected to have approx. 250 locations. Take 5 Oil Change was awarded #1 in customer satisfaction for aftermarket quick oil changes 2 years in a row by J.D. Power.
This Take 5 is part of a major retail corridor on Commercial Way with 45,500 vehicles per day. The property is an outparcel to Nature Coast Commons with retailers including Walmart Supercenter, Aldi, Dollar Tree, PetSmart, Best Buy, Ross, JCPenney, Cracker Barrel, Panera and 7-11. Other surrounding national retailers include The Home Depot, Lowes, Publix Supermarket, Winn Dixie, Big Lots, Staples, Harbor Freight Tools, Beall’s Outlet, Dollar General, Verizon, Outback Steakhouse, Applebee’s, Red Lobster, Chili’s, Wendy’s, Taco Bell, McDonald’s, Panera Bread, Burger King, Starbucks, Dunkin, Wells Fargo, Bank of America, AutoZone, Advance Auto Parts, Hampton Inn, Holiday Inn, CVS, Walgreens and many more.
The subject property is 1.5 miles from Pasco-Hernando State College Spring Hill Campus – with a total enrollment of 12,551 across five campuses. The location is part of the Tampa-St. Petersburg metro which contains over 3.2 million residents and spans four counties. The local population is expected to expand to approximately 3.3 million residents through 2026 with the number of households expected to increase by 70,200. Tourism plays a significant role in the economy; local attractions benefitting the economy include Busch Gardens Tampa, Adventure Island, the Lowry Park Zoo, and the Florida Aquarium.
