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31391189
31391188

232 Grant Ave, Auburn, NY 13021

JB
TX 688810
Matthews
KM
NE 20170883
Matthews
Listed by Matthews
$2,046,428
1 day on market
Updated 1 day ago

Take 5 | 7% Cap | 10% Rent Increases

Details
Property Type Retail
Sub Type Convenience Store, Gas Station (+1)
Square Footage 1,340
Cap Rate 7%
NOI $143,250
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone, Jiffy Lube (+3)
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 09/29/2040
Remaining Term 14.5
Rent Bumps Yes
Lease Options Four, 5-Year Options
Year Built 2025
Buildings 1
Stories 1
Investment Type Net Lease
Tenant Credit Credit Rated, Franchisee (+1)
Lease Commencement 09/03/2025
Ground Lease No
Ownership Fee Simple

30,000 Vehicles Daily | 15-Yr Abs NNN Lease

Investment highlights

Lease & Location Highlights

● Brand new 2025 build to suit construction for Take 5 Oil Change

● 15-year absolute NNN lease with zero landlord responsibilities

● 10% rent increases every 5 years for the entire term of the lease (base + options)

● The property qualifies for bonus depreciation (consult with a tax professional for details)

● Corporate guarantee from an experienced Take 5 Oil Change operator (+60 Take 5 locations & 245 locations across all franchise brands)

● ± 30,000 Vehicles daily on Grant Ave directly in front of the store

● 5-Mile population exceeds 36,000 residents

● Strong retail synergy with national retailers such as Walmart Supercenter, Lowe’s, Tractor Supply, Marshall’s, Harbor Freight, Five Below, and many more

Tenant Highlights

● Strong Guaranty from Purple Square Management Company, LLC – operates 245

franchise locations across 15 states

● Purple Square is an operator of Take 5, Dunkin, Baskin Robbins, The Brass Tap,

Popeyes, Rent-A-Center, Small Sliders, American Family Care and more

● Take 5 is one of the nation’s leading drive-thru oil change concepts with approximately

±1,500 locations across the United States

● Driven Brands operates more than 5,000 units including Take 5 Oil, Meineke Car Care,

Maaco, 1-800-Radiator, CARSTAR and more

● Driven Brands has roughly 5,000+ locations throughout 14+ countries, and services

more than 70+ million vehicles annually

Listing Contacts

JB
TX 688810
Matthews
KM
NE 20170883
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$143,250.00
$11,937.50/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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