Take 5 | 15-Yr Abs NNN | 7% Cap Rate
Retail | 7.00% CAP | 1,735 SqFt
Marketing description
Matthews™ is pleased to present 995 Fairmount Ave in Jamestown, New York - a newer 2024 build-to-suit construction for Take 5 Oil Change. This property 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 is well positioned along Fairmont Avenue which sees approximately 21,000 vehicles daily in an affluent Buffalo suburb with an average household income of $101,084 annually.
The property is backed by a corporate guaranty from Purple Square Management Company, LLC, an experienced operator of approximately 60 Take 5 locations and 245 locations across all franchise brands. Take 5 is one of the nation's leading drive-thru oil change concepts with approximately 1,500 locations across the United States, operating under Driven Brands which has roughly 5,000+ locations throughout 14+ countries.
Jamestown is located at the southern end of Chautauqua Lake, a popular summer destination drawing in tourists from all over New York and surrounding states. Local national retailers include Wegmans, Target, Home Depot, Rite-Aid, Walmart, Starbucks, Verizon and many more.
Investment highlights
- Newer 2024 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 position along Fairmont which sees approximately 21,000 vehicles daily
- Affluent Buffalo suburb with an average household income $101,084 annually
- Local national retailers include Wegmans, Target, Home Depot, Rite-Aid, Walmart, Starbucks, Verizon and many more
- Jamestown is located at the southern end of Chautauqua Lake, a popular summer destination drawing in tourist from all over New York and surrounding states
- 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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