Take 5 Oil | 7% Cap | 14-Yr Abs NNN Lease
Retail | 7.00% CAP | 1,735 SqFt
Marketing description
Matthews™ is pleased to present the exclusive opportunity to acquire a brand new 2025 build-to-suit Take 5 Oil Change property located at 3028 W State St, Olean, NY 14760. This investment features a 15-year absolute NNN lease with zero landlord responsibilities and 10% rent increases every 5 years for the entire term of the lease including options. The property benefits from a strong corporate guaranty from Purple Square Management Company, LLC, an experienced Take 5 Oil Change operator with approximately 60 Take 5 locations and 245 locations across all franchise brands.
The property is well positioned along West State St which sees approximately 17,000 vehicles daily and is located less than a mile from St Bonaventure University with an enrollment of 3,053 students. The 5-mile trade area includes a population of approximately 21,653 residents with local national retailers including Walmart, Home Depot, Aldi, BJ's Wholesale Club, Marshalls, Verizon, Tractor Supply, and McDonald's.
Investment highlights
- Brand new 2025 build-to-suit construction for Take 5
- 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 guaranty from an experienced Take 5 Oil Change operator (±60 T5 locations & 245 locations across all franchise brands)
- Well positioned along West State St which sees approximately 17,000 vehicles daily
- Located less than a mile from St Bonaventure university with an enrollment of 3,053 students
- 5-Mile population of ±21,653 residents & 10-Mile population of 32,615 residents (population numbers do not include student housing)
- Local national retailers include Walmart, Home Depot, Aldi, BJ's Wholesale Club, Marshalls, Verizon, Tractor Supply, McDonald's and many more
- 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.
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