Tyler, TX - Take 5 Oil Change

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee (land ownership) interest in an absolute NNN, corporate guaranteed, newly constructed, Take-5 Oil Change investment property located in Tyler, Texas. The tenant recently signed a 20-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features a 10% rental increase every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

Take-5 Oil Change is strategically situated along S. Broadway Ave, a major retail and commuter thoroughfare with an average of 38,100 vehicles passing by daily. The investment benefits from its location at the signalized, hard corner intersection of S. Broadway Ave and E. Grande Blvd, which boasts a traffic volume of 55,000 VPD. The property offers excellent visibility and access through significant street frontage, a large pylon sign, and multiple points of ingress/egress. Take-5 Oil Change is located just south of Broadway Square, ranked as the #6 most visited regional shopping center in Texas, catering to over 4.9 million visitors annually (per Placer.ai). Noteworthy tenants within Broadway Square include Dick’s Sporting Goods, JCPenney, Dillard’s, and HomeGoods. The investment is directly across from a heavily trafficked Walmart Supercenter, which serves over 2.1 million visitors per year (per Placer.ai). Situated within a dense retail corridor, the property is surrounded by national/credit tenants such as Target, Lowe’s, Barnes & Noble, Sprout’s Farmers Market, Big Lots, and Best Buy. Strong tenant synergy encourages crossover shopping to the subject property. The 5-mile trade area is supported by more than 96,000 residents and 79,000 daytime employees, boasting affluent average household incomes of $99,611.