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32918325
32918321

267 East Merritt Island Causeway, Merritt Island, FL 32952

MT
FL BK3217284
STNL
MB
FL SL3628297
STNL
Listed by STNL
$2,375,000
14 days on market
Updated 14 days ago

Take 5 Oil Change

Details
APN 24 3635-02--25
Property Type Retail
Sub Type Auto Shop
Square Footage 1,406
Net Rentable (SqFt) 1,406
Cap Rate 6.25%
NOI $148,500
Tenancy Single
Brand/Tenant Take 5 Oil Change
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 08/15/2036
Remaining Term 10
Rent Bumps Yes
Lease Options 4 5-Year Options
Year Built 2021
Stories 1
Acreage 0.530
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 08/16/2021
Ground Lease No

Lighted Intersection | 36,000 VPD | 10+ Year NNN Lease

Marketing description

STNL.com is pleased to present this 100% fee-simple, NNN Take 5 Oil Change located in Merritt Island, FL. Three reasons to own this property include:

1. Primary Retail Corridor : Positioned along E. Merritt Island Causeway seeing 36,000 AVPD, your Take 5 benefits from it’s own dedicated light with frontage on Merritt Island’s dominant retail corridor. Flanking both ends of the corridor surrounding Take 5 are major draws such as Home Depot, BJ’s Wholesale Club, Publix, T.J. Maxx, and Aldi, with an even broader mix of retail offerings within a 2-mile radius. The property captures consistent traffic flow from both Cocoa Beach and Merritt Island’s residential communities, as consumers travel to and from these key retail destinations.

2. Long Term, NNN Lease : Take 5 is the only nationally recognized quick oil change on Merritt Island, featuring a fee-simple NNN Lease with over 10 years of term remaining. The lease calls for 0 landlord responsibilities, ensuring a stress-free investment. Purple Square Management Co. operates 50+ Take 5 locations, with 245+ units across several brands including Dunkin, Rent-A-Center, and Popeyes among others.

3. Strong Development Pipeline: Your Take 5 is located within a rapidly growing corridor fueled by recent and planned development. Merritt Island Wellness Village, a 14-acre hospital campus with 120 beds is set for completion by mid-2027 and will replace Health First’s Cape Canaveral Hospital. A brand-new development featuring Chipotle, Wawa, Christian Brother’s Automotive, and El Car sits just 1,000 feet to the east of your Take 5. Blue Origin has filed a permit to build a new 800,000 sqft

manufacturing facility, which will bringing hundreds of jobs to the Space Coast economy of Merritt Island.

Investment highlights

1. Dedicated Traffic Light : Take 5 has a dedicated traffic signal on Merritt Island Cswy, which sees an average of 36,000 vehicles per day.

2. 10+ Year Term : Take 5 is the only nationally recognized quick oil change on Merritt Island, featuring a fee-simple NNN Lease with over 10 years of term remaining.

3. Strong Development Pipeline: 1,000 ft East of Take 5 sits a newly constructed Chipotle, Wawa, Christian Brother’s Automotive, and El Car Wash. Merritt Island Wellness Village, a 14-acre 120 bed hospital development, is set for completion in mid-2027, less than 1 mile down Merritt Island Cswy from Take 5.

Listing Contacts

MT
FL BK3217284
STNL
MB
FL SL3628297
STNL
Listed by STNL

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$148,500.00
$12,375.00/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Mark Thompson
License
BK3217284
Brokerage Phone
689.666.9560
Name
Matthew Bronson
License
SL3628297
Brokerage
STNL
Brokerage Phone
689.666.9542
Title
Real Estate Sales Associate
Brokerage Address
1040 Woodcock Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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