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New Take 5 Oil | 15-Yr | 16+ Unit Guarantor 3806 Broadway St 1,627 SF Retail Building Mount Vernon, IL 62864 $2,791,840 CAD ($1,715.94 CAD/SF) 6.25% Cap Rate

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INVESTMENT HIGHLIGHTS

New 15-Year Sale Leaseback | Strong Operator (16+ Units) | Rapidly Growing Brand | E-Commerce & Recession Proof Tenant
Excellent Visibility & Access Along Broadway Street (22,530 VPD) | Across From Times Square Mall (2.3M+ Annual Visits)

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN Take 5 Oil Change investment property located in Mount Vernon, Illinois. The tenant, TVOC Illinois LLC, recently signed a new 15-year sale leaseback with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% 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. TVOC Illinois LLC represents a strong, rapidly-growing operator which currently operates 16 locations, with 5 additional sites in development, and a 44-unit development agreement with Take 5 Oil Change. The brand is the fastest growing oil change concept in the U.S. with more than 1,000 locations in 41 states with an additional 950 sites in the pipeline.

PROPERTY FACTS

Sale Type

Investment

Sale Condition

Build to Suit

Property Type

Retail

Property Subtype

Auto Repair

Building Size

1,627 SF

Building Class

Year Built

2022

Price

$2,791,840 CAD

Price Per SF

$1,715.94 CAD

Cap Rate

6.25%

NOI

$174,490 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.05

Lot Size

0.75 AC

Parking

6 Spaces (3.69 Spaces per 1,000 SF Leased)

Frontage

166’ on Times Square Mall

Signage

Signalized Intersection

Services
-
$9.99
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Whether it’s an oil change followed by a car wash, a car wash before an oil change…or both at completely different times, Take 5 gets the job done quickly so you can be on your way. Take 5 was founded as Rapid Oil Change. It offered quick oil changes, minor repairs and other maintenance services. Since then, it has seen expansion, faced disaster and become part of the community. What started in Louisiana, just outside New Orleans, spread to several states and across the southeastern United States from Virginia to Texas and several locations, with more shops opening in the coming months. Among the newest locations is the first Take 5 in Florida. To date, the company has opted to limit franchising the brand but it continues to consider future options to do so.