Take 5 | 10% Rent Increases | 15-Yr Abs NNN
Qualifies for Bonus Depreciation
Marketing description
Matthews™ is pleased to present the exclusive opportunity to acquire a brand new 2024 build-to-suit Take 5 Oil Change located in Shallotte, North Carolina. This investment features a 15-year absolute NNN lease with zero landlord responsibilities and 10% rent increases every 5 years beginning in year 6. The lease is backed by a full-term guarantee from an established franchisee operating approximately 45 locations by year end.
Take 5 is one of the nation's leading drive-thru oil change concepts with approximately 1,200 locations across the United States. As a subsidiary of Driven Brands, Take 5 benefits from the operational expertise and strategic capital of one of the largest automotive services companies in North America. The property is strategically located along Main Street / U.S. 17 Business, a primary commercial corridor in Shallotte, with high daily traffic volumes and excellent visibility.
Shallotte is positioned within one of North Carolina's fastest-growing coastal regions, benefitting from steady population increases and expanding economic activity. The town serves as a commercial and service hub for southern Brunswick County, drawing residents and visitors from nearby beach communities such as Ocean Isle Beach, Holden Beach, and Sunset Beach. The property is surrounded by nationally recognized tenants including Starbucks, Chick-fil-A, Walmart, Circle K, Lowe's, Home Depot, Verizon, and many more.
Investment highlights
- Brand new 2024 build-to-suit construction
- 15-year absolute NNN lease with zero landlord responsibilities
- Rent commencement date shall be the close of escrow
- 10% rent increases every 5 years beginning in year 6 and continuing through the base term and all option periods
- The subject property qualifies for bonus depreciation (discuss with your tax professional)
- Full term guarantee from an established franchisee (±45 location by year end)
- Growing population - estimated increase of 14.81% (5-mile) and 20.32% (10-mile) over the next 5-years
- Shallotte is located along the coast line and is in close proximity to several beaches such as Holden Beach, Ocean Isle Beach, and Sunset Beach
- Located along Main Street / U.S. 17 Business - a primary commercial corridor in Shallotte, NC, with high daily traffic volumes and excellent visibility
- Surrounded by nationally recognized tenants including Starbucks, Chick-fil-A, Walmart, Circle K, Lowe's, Home Depot, Verizon, and many more
- Take 5 is one of the nation's leading drive-thru oil change concepts with approximately ±1200 locations across the United States
- Take 5 is growing at an exponential rate and has recently begun franchising some of their new locations
- Driven Brands owns Take 5 Oil, Meineke Car Care, Maaco, 1-800-Radiator, CARSTAR and more
- Driven Brands has more than 4,800 locations throughout 14 countries, and services more than 70 million vehicles annually
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