San Antonio, TX - Take 5 Oil Change

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Take 5 Oil Change investment property located in San Antonio, Texas. The tenant, Take 5 Properties SPV LLC, recently signed a brand new 20-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 property is scheduled to open in December2024.

The Take 5 is strategically located near the signalized, hard-corner intersection of Potranco Road and State Highway 211, which averages a combined 49,000 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and has multiple points of ingress/egress. Furthermore, the asset is ideally situated across from a 300,000+ SF shopping center anchored by H-E-B, the top grocery store brand in Texas, and is adjacent to brand new locations for Pacific Dental, Jiffy Lube, Dutch Bros, and the Car Wash Express. Other nearby national/credit tenants include Chick-fil-A, QuikTrip, Taco Bell, Anytime Fitness, Whataburger, McDonald’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by approximately 128,000 residents and 10,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an affluent average household income of $147,148.