Investment Highlights
- New, 15-Year, Absolute Triple Net (NNN) Lease, Full Term Remaining
- Building Underwent Extensive Renovations and is Now Open
- Renovations Include: Updated Electrical; New Paint to Entire Interior and Exterior; Remove and Replace Roof (20 Year Warranty on New Roof); Upgraded Plumbing; Replace Concrete Parking Lot; Upgrade Landscaping; Replace Overhead Doors; Replace HVAC System; New Signage; and, New Concrete Curbing Around New Containment Tanks
- Four, Five-Year Tenant Renewal Options With 10 Percent Rent Increases Every Five Years in Base Term and Option Periods
- Purple Square Management Company Currently Operates Over 245 Franchise Locations Throughout 15 States and Growing!
- Population Over 200,000 Within Five Miles of the Subject Property
- Situated On Highway 17 (Orange Blossom Trail) With A Daily Traffic Count Exceeding 34,000 Vehicles and Off Vine Street (Irlo Bronson Memorial Highway) With Over 52,000 Daily Vehicles, It Is Also in Close Proximity to Florida’s Turnpike (85,000 Vehicles Daily) And John Young Parkway (46,000 Vehicles Daily)
- Surrounding National Brands Include Walmart Neighborhood Market, Publix Supermarket, Bravo Supermarket, The Home Depot, Planet Fitness, Rent-A-Center, Big Lots, At Home, Conn’s HomePlus, Buddy’s Home Furnishings, Burlington, Ross, Family Dollar, Dollar Tree, Advance Auto Parts, O’Reilly Auto Parts, Wawa, 7-Eleven, McDonald’s, KFC, Taco Bell, Wendy’s, Arby’s, Pollo Tropical, Red Lobster, Waffle House, Bank of America, Truist Bank, Metro by T-Mobile, Dunkin, Starbucks, Walgreens and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Take 5 Oil Change in Kissimmee, Florida (Orlando MSA). The property features a new 15-year absolute triple net (NNN) lease with the full term remaining. The building was extensively renovated and recently opened for Take 5. The lease includes four, five-year tenant renewal options, with 10 percent rent increases scheduled every five years in both the base term and option periods.
The renovations encompass significant upgrades, including updated electrical systems, new paint for both the interior and exterior, remove and replace the roof, upgraded plumbing, replace the concrete parking lot, enhanced landscaping, replacement of overhead doors, a new HVAC system, new signage, and the installation of new concrete curbing around new containment tanks. Additionally, the new roof comes with a 20-year warranty.
Purple Square Management Company, LLC, operates 245 franchise locations across 15 states and is expanding. Their portfolio includes well-known brands such as Take 5 Oil Change, Dunkin Donuts/Baskin Robbins, Popeyes Louisiana Kitchen, The Brass Tap, Rent-A-Center, Rimtyme, American Family Care, and ongoing development of Smalls Slider locations. Purple Square guarantees the lease for the entire initial lease term of 15 years.
The subject property has a population of over 200,000 within a five-mile radius. Positioned in a high-traffic area, it is centrally located between some of Orlando’s busiest roadways, ensuring excellent accessibility and visibility. Situated on Highway 17 (Orange Blossom Trail) with a daily traffic count exceeding 34,000 vehicles and off Vine Street (Irlo Bronson Memorial Highway) with over 52,000 daily vehicles, it is also in close proximity to Florida’s Turnpike (85,000 vehicles daily) and John Young Parkway (46,000 vehicles daily). The Florida Turnpike provides connectivity to key destinations, including Walt Disney World, Universal Studios, SeaWorld, West Palm Beach, and Miami. The area is densely populated, surrounded by numerous apartment and condo communities.
Surrounding national brands include Walmart Neighborhood Market, Publix Supermarket, Bravo Supermarket, The Home Depot, Planet Fitness, Rent-A-Center, Big Lots, At Home, Conn’s HomePlus, Buddy’s Home Furnishings, Burlington, Ross, Family Dollar, Dollar Tree, Advance Auto Parts, O’Reilly Auto Parts, Wawa, 7-Eleven, McDonald’s, KFC, Taco Bell, Wendy’s, Arby’s, Pollo Tropical, Red Lobster, Waffle House, Bank of America, Truist Bank, Metro by T-Mobile, Dunkin, Starbucks, Walgreens, CVS, Days Inn by Wyndham and many more.
