Take 5 Oil Change
1,415 SF | Retail Building | Independence, MO 64057 | $1,654,135 ($1,169/SF) | 6.65% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,654,135
- Property Type
-
Retail
- Square Feet
- 1,415 SF
- Price / Square Foot
- $1,169
Listing Contacts
John Feeney
Verified Profile
Randy Blankstein
Verified Profile
- Property Info
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant Take 5 Oil Change property positioned within the Kansas City MSA in Independence, Missouri. Construction was completed in June 2024 with the store opening shortly thereafter. The proposed sale leaseback term is 15 years and triple net with no landlord responsibilities. There will be 10% rental escalations throughout the primary term and five 5-year renewal options. The operator, Driven Assets, currently operates 5 locations with 3 additional stores scheduled to open by the end of 2024. Driven Assets also has exclusive rights to operate in the Kansas City metro with an agreement to open an additional 16 locations.
The 1,415 square-foot building benefits from its position just 20 minutes east of downtown Kansas City, Missouri. The new construction Take 5 Oil Change is located at the signalized intersection of East 23rd Street and State Route 291 which experience a combined 65,000+ vehicles per day. The surrounding area is comprised of a large mix of retailers including Price Chopper, Tractor Supply Company, Hy-Vee, ALDI, Dollar Tree, McDonald’s, Planet Fitness, Verizon, and several others. New retailers that recently opened locations in the immediate area include 7-Brew, Scooters Coffee, and QuikTrip. Additionally, there are over 148,000 people living within a five-mile radius of the property that earn an average household income of $81,764.
Take 5 Oil Change was founded in Metairie, LA in 1984 with the mission to provide fast, friendly, affordable oil changes with an emphasis on an exceptional customer experience. They currently have more than 1,000+ locations in 23 states with an additional 950 units in the pipeline and plans for further expansion into additional states. Long term their goal over the next ten years is to grow to more than 2,000 locations. Take 5 Oil Change is a wholly owned subsidiary of Driven Brands (NASDAQ: DRVN), a leading automotive services company.
The 1,415 square-foot building benefits from its position just 20 minutes east of downtown Kansas City, Missouri. The new construction Take 5 Oil Change is located at the signalized intersection of East 23rd Street and State Route 291 which experience a combined 65,000+ vehicles per day. The surrounding area is comprised of a large mix of retailers including Price Chopper, Tractor Supply Company, Hy-Vee, ALDI, Dollar Tree, McDonald’s, Planet Fitness, Verizon, and several others. New retailers that recently opened locations in the immediate area include 7-Brew, Scooters Coffee, and QuikTrip. Additionally, there are over 148,000 people living within a five-mile radius of the property that earn an average household income of $81,764.
Take 5 Oil Change was founded in Metairie, LA in 1984 with the mission to provide fast, friendly, affordable oil changes with an emphasis on an exceptional customer experience. They currently have more than 1,000+ locations in 23 states with an additional 950 units in the pipeline and plans for further expansion into additional states. Long term their goal over the next ten years is to grow to more than 2,000 locations. Take 5 Oil Change is a wholly owned subsidiary of Driven Brands (NASDAQ: DRVN), a leading automotive services company.
Property Details
- Year Built
- 2024
- Stories
- 1
- Lot Size (sq. ft)
- 31,799 SF
Highlights
- Kansas City MSA – Ranked #31 in the United States for population size
- 15-year sale leaseback upon close of escrow
- Operator has exclusive rights to operate in the KC metro with an agreement to open an additional 16 locations
- 148,000+ people live within a five-mile radius
- Neighboring retailers include Price Chopper, Tractor Supply Company, Hy-Vee, ALDI, Dollar Tree, McDonald’s, Scooter’s Coffee, 7 Brew, Planet Fitness
- Signalized intersection along State Route 291 (39,406 VPD) and East 23rd Street (28,033 VPD)
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