Rochester, MN - Take 5 Oil Change

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Take 5 investment property located in Rochester, Minnesota. The tenant, Ironside Operations, LLC recently signed a brand new 16 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases 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 that opened in Nov. 2023 features a state-of-the-art design with high-quality materials. Take 5 Oil Change® has more than 800 company-owned and franchised service centers throughout the United States and Canada.

The Take 5 is located at the signalized, hard corner intersection of Chateau Rd. NW and 55th St NW. The site benefits from direct on/off ramp access to U.S. Hwy 52 & 63, a major thoroughfare averaging over 61,000 vehicles per day. The asset is directly across from a Walmart Supercenter anchored center, providing consumer draw to the immediate area. Furthermore, the subject property is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Sam’s Club, Petco, Home Depot, Petsmart, Target, Culver’s, Harbor Freight, McDonald’s, Best Buy, Wendy’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 over 86,000 residents and 177,000 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $142,344.