Las Cruces, NM - Take 5 OIl Change

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 Las Cruces, New Mexico. The tenant, Take 5 Oil Change will sign a new, 15-year lease at the close of escrow (sale-leaseback) with 6
(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 Take 5 Oil Change is located near the signalized, hard corner intersection of Interstate 10 and State Highway 28 which combine to average over 50,100 vehicles passing by daily. Interstate 10, is a major retail thoroughfare serving the city of Las Cruces. The Take 5 Oil Change is located across from a Walmart Supercenter that also features national/credit tenants including Starbucks, Subway, Cracker Barrel, and more. In addition, the asset is located approximately 2.5 miles from Mesilla Valley Mall, which features national/credit tenants such as Dillard’s, JCPenney, Barnes and Noble, Ulta, Verizon, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Sprouts, PetSmart, Crunch Fitness, Best Buy, McDonald’s, Texas Roadhouse, and more, further increasing consumer traffic to the site. The site is approximately 2 miles from New Mexico State University which has over 13,900 students. The 5-mile trade area is supported by a population of over 104,900 residents and 59,000 employees with an average household income of $73,701.