Overview

Description

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment property located in Monrovia, California. The tenant, Take 5 Oil Change recently signed a brand new 15 year lease with 4 (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. The newly-constructed building will features a state-of-the-art design and high-quality materials. Take 5 has over 800 company-owned and franchised service centers throughout the United States and Canada.

The Take 5 Oil Change is located near the signalized, hard corner intersection of E. Huntington Dr. and Mountain Ave. with a combined (54,900 VPD). The site benefits from nearby direct on/off ramp access to Interstate 210, a major thoroughfare averaging over 256,000 vehicles per day. Furthermore, the site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Target, CVS Pharmacy, Walgreens, Aldi, Best Buy, Home Depot, Walmart Supercenter, Trader Joe’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The site is in close proximity to City of Hope Medical Center (217 Beds), further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 331,000 and 114,000 employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $128,326.

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