Lewistown, PA - Take 5 Oil Change

Description:

SRS Real Estate Partners-Northeast, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, franchisee guaranteed, Take 5 Oil Change investment property located in Lewistown, Pennsylvania. The tenant, P5 PA, LLC recently signed a brand new 15-year &
4-month 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. Take 5 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations across 41 states with an additional 950 sites in the pipeline.

The property features direct access and excellent visibility to U.S. Highway 22 Business, which averages 25,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Lewistown. The asset is just south of U.S. Highway 22, an east/west travelling thoroughfare averaging 10,000 vehicles passing by daily. In addition, the site is positioned directly across the street from a Lowe’s-anchored shopping center with other tenants include Chipotle and Dunkin’. Furthermore, the asset is located within walking distance of a Walmart Supercenter-anchored shopping center, helping draw consumers into the trade area. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Harbor Freight, Chipotle, McDonald’s, Dunkin’, Taco Bell, AT&T, AutoZone, Asian Fusion Buffet, Dairy Queen, Advance Auto Parts, Aaron’s, Verizon, Dollar Tree, GameStop, and more, further increasing consumer traffic to the site. The subject property is ositioned less than 2 miles from Downtown Lewistown, which helps draws consumers into the trade area. The 5-mile trade area is supported by a population of over 22,600 with an average household income of $66,094.