Merrill, WI - Take 5 Oil Change

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Take 5 investment property located in Merrill, Wisconsin. The tenant, Take 5 Properties SPV LLC, has 10 years remaining on their initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Take 5 has more than 900 company-owned and franchised service centers throughout the United States and Canada.

The subject property is located near the intersection of E. Main St. and U.S Hwy 51 with a combined (27,500 VPD). The asset is an outparcel to a Tractor Supply anchored center that also includes a McDonald’s. The property is located in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Walgreens, Taco Bell, Culver’s, Dollar Tree, Arby’s, O’Reilly Auto Parts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site benefits from close proximity to Aspirus Merrill Hospital (25 Beds), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 13,000 residents and 7,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $76,882.