Minot, ND - Take 5 Oil Change
$1,577,000
1738 S Broadway, Minot, ND 58701
6.85
Cap Rate
108,000
NOI
Details:
Description:
SRS National Net Lease 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 Minot, North Dakota. The tenant will sign a brand-new, 15-year lease with four (5-year) options to extend, at the close of escrow, demonstrating their commitment to the site. The lease features 6% rental increases at the end of year five and then annual 1.5% rental increases for the remainder of the initial term and throughout 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 located at the intersection of South Broadway and 18th Avenue, which sees a combined total of 30,200 vehicles per day. South Broadway is the major retail thoroughfare serving the city of Minot. The asset is less than 2 miles from Dakota Square Mall, a 757,513-square-foot regional shopping mall with major national and credit tenants such as Target, Scheels, AMC Theatres, Barnes & Noble, Best Buy, and more. The mall features over 4 million annual visits, creating a constant draw of consumers to the area. In addition, Take 5 Oil Change is in close proximity to car dealerships and other auto service providers, such as GMC, Chevrolet, Toyota, Honda, Nissan, and more, positioning the asset in an ideal location for capturing overflow and cross-service customers. The asset is located in a primary retail corridor with major national credit tenants such as Walmart Supercenter, The Home Depot, Dollar Tree, McDonald’s, Starbucks, and more. The site is located five minutes from Minot State University, which has over 2,000 students, increasing consumer traffic from students, faculty, and staff. The 5-mile trade area is supported by a population of over 53,000 and 36,000 employees, with an average household income of $102,823.
Location
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