Tucson, AZ - Take 5 Oil Change (Irvington)

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Take
5 Oil Change investment property located in Tucson, Arizona. The tenant, Take 5 Oil Change will sign a brand-new, 15-year lease at the close of escrow with 6 (5-year) option periods 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 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations in 42 states with an additional 300+ sites in the pipeline.

The property is located along West Irvington Road, which averages 46,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Tucson. Additionally, the property is positioned just east of Interstate 19 (102,600 VPD), a major north/south travelling thoroughfare connecting Tucson to the southern border. Furthermore, the asset is situated across I-19 from Tucson Spectrum, a 1,000,000 square foot outdoor mall anchored by Target, Home Depot, JCPenney, Best Buy, Harkins Theatres, and Food City. Moreover, Take 5 is positioned a few miles from El Con Mall, A 1,200,000 square foot shopping mall anchored by Walmart Supercenter, Home Depot, Target, Cinemark, and a 205,000 square foot convention center. The property is in the center of a primary retail corridor with national/credit tenants such as a Walmart Supercenter, Costco Wholesale, T.J. Maxx, Dillard’s, Burlington, Michael’s, Fry’s Electronics, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Pueblo High School, a local school with 1,640 students. The 5-mile trade area is supported by a population of over 180,200 with an average household income of $89,909.