Take 5 Oil Change
Retail | 7.00% CAP | 1,408 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Take 5 Oil Change located at 1083 Orange Ave, West Haven, CT 06516 (Orange Ave is Route 1 or “The Boston Post Road”). The site consists of roughly 1,408 rentable square feet of building space on an estimated 0.36-acre parcel of land. This Take 5 Oil Change is subject to a 15-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $95,000 and has scheduled increases of 10.00% every 5 years, resulting in average annual rent of $104,817 over the 15 year lease.
Investment highlights
Long-term Sale-Leaseback Opportunity with Strong Rental Increases | Upon close of escrow, the landlord with receive a brand new 15-year lease with 10% increases every 5-years and in each of the 3, 5-year options.
Absolute NNN Lease | There are zero landlord responsibilities on this lease, making this an ideal, long-term passive investment.
Experienced and Growing Operator | Faulkner Island currently operates four Take 5 Oil Changes, with the exclusive right to develop and operate seven (7) more shops within its densely-concentrated franchise region (Westchester County NY and all densely-concentrated southern Connecticut counties), growing the strength of the guarantee over the term of the lease.
Ideal Demographics for Take 5 Oil Change | The surrounding area is incredibly dense with over 214,300 individuals residing within a fivemile radius. The average household income is approximately $90,359. Take 5 Oil Change specifically targets dense regions with an average household income under $150,000.
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