Corporate Take 5 Oil Change
Low Rent Rare Corporate Ground Lease
Marketing description
Corporate Take 5 Oil Change at 1818 W Baseline Rd, Phoenix, AZ 85041 presents a rare opportunity to acquire a net-leased investment built in 2024 on a high-visibility Phoenix retail corridor. Situated on a signalized hard corner at Baseline Road and 19th Avenue, this 1,438 SF Take 5 Oil Change sits on 0.75 acres and benefits from traffic counts exceeding 41,000 vehicles per day on Baseline Road. The asset is secured by a corporate Take 5 absolute NNN ground lease, creating a truly passive ownership structure with zero landlord responsibilities. The tenant pays taxes, insurance, maintenance, roof, structure, parking, and site expenses, delivering stable annual NOI of $100,000 with 10% rent increases every five years. The offering includes 11.8 years of term remaining plus renewal options, providing long-term income growth. Surrounded by national retailers including Lowe’s, CVS, Starbucks, Chipotle, McDonald’s, and EOS Fitness, the property is positioned within a proven retail node in a dense and growing trade area. Additional upside comes from the planned Grove on Baseline mixed-use development directly across the street, which is expected to bring new retail and residential density to the immediate area.
Investment highlights
- Completely passive income stream. The tenant handles everything: taxes paid directly to the county, insurance, roof, structure, parking, landscaping, and utilities. No CAM to reconcile, no reimbursements to bill, no landlord obligation of any kind in the lease.
- Ground rent the market could always replace. At $100,000 per year, roughly $3 per square foot of land, the rent sits well within what pads on a signalized Phoenix retail corridor command. Low basis rent is the real security behind the income.
- 22 consecutive quarters of same-store sales growth at Take 5, the standout segment of Driven Brands (NASDAQ: DRVN), North America's largest automotive services company with 4,200+ locations and $6.1B in system-wide sales.
- 58,001 vehicles per day through the signalized corner at Baseline and 19th Avenue, alongside Lowe's, CVS, McDonald's, Chipotle, Starbucks, and EOS Fitness.
- 570+ homes and a WinCo anchor coming directly across the street. The 66-acre Grove on Baseline targets a 2027 groundbreaking, with a second 104-acre master plan advancing at the same intersection.
- Demand compounds as the fleet ages. The average U.S. vehicle is a record 12.8 years old, and vehicles in the prime 6-to-14-year maintenance window will make up roughly 70% of the road over the next five years.
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