TAKE 5 OIL CHANGE - TAMPA, FL MSA JAMES …...Take 5 Oil Change was acquired by Roark Capital...

JAMES CAPITAL ADVISORS, INC.TAKE 5 OIL CHANGE - TAMPA, FL MSA

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JAMES CAPITAL ADVISORS

MARKETING PACKAGE

CONTENTS

CONTACT INFORMATION

PAGE

Investment Summary

Lease Summary

Retail Aerial

Investment Highlights

Rent Schedule

Site Plan

About the Brand

Location Overview

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richard brehautDirector, Net [email protected](424) 325-2608

Take 5 Oil Change1525 US Highway 19Holiday, FL 34691

1525 US HIGHWAY 19, HOLIDAY, FL 3469103

TAKE 5 OIL CHANGE - TAMPA, FL MSA

INVESTMENT SUMMARY

Tenant

Street Address

City

State

Zip

GLA

Lot Size

Year Built

$1.4M6.00%$84K

Take 5 Oil Change

1525 US Highway 19

Holiday

FL

34691

1,200 SF

0.83 AC

2019

Long-Term Triple-Net (NNN) Ground LeaseThe 11.5 year Triple-Net (NNN) Ground Lease commenced in December 2019 and features four, five-year options. Tenant is responsible for taxes, insurance, and all maintenance including roof, structure, and parking lot.

Brand New ConstructionThe building was constructed in 2019, and features Take 5’s latest prototype.

Attractive Rental Increases to Hedge Against InflationThe lease will feature 10% increases in Year 6 and each option, giving the landlord the benefit of compounding rent growth.

Signalized Hard Corner Location on Heavily Trafficked IntersectionThe subject property is strategically located at the intersection of US 19 and ALT US 19 with combined daily traffic counts of approximately 77,000 VPD.

$1,406,000PURCHASE PRICE

6.00%CAP RATE

$84,358NET OPERATING INCOME



LEASE SUMMARY

Lease Type

Type of Ownership

Original Lease Term

Commencement Date

Lease Expiration

Term Remaining

Increases

Options

Real Estate Taxes

Insurance

Roof & Structure

Lease Guarantor

Company Name

Ownership*Substantial PG backing the lease. Contact agent for details.

Ground Lease

Ground Lease

11.5 Years

12/20/19

6/19/31

11 Years

10% in Year 6.5 & Options

Four (4), 5-Year

Tenant Responsible

Tenant Responsible

Tenant Responsible

Personal Guarantee*

West Coast Oil Biz

Private

Take 5 Oil ChangeFounded in 1984, Take 5 Oil Change is an industry-leading fast lube chain currently operating 480+ locations in 19 states across the U.S. Take 5 ’s success stems from its niche focus of providing oil changes almost exclusively, at a superior speed (approx. 5-7 Min) in a low-pressure sales environment.Tampa MSAThe Tampa MSA population is already the largest of any metropolitan area in the state of Florida and is experiencing explosive population growth as it is projected to grow from 3MM to 3.1MM in 2019.Strategically Located in Major Retail CorridorThe property is located less than ½ mile away from two major national retailers in the area including Home Depot, a 608,000 SF center, & Winn-Dixie, a 120,000 SF grocery store. Other national retailers in the immediate area are West Coast Collision Center, Mobil, ALDI, Planet Fitness and Dunkin’.Minutes Away from Holiday Centre Shopping CenterThe subject property is located minutes away from Holiday Centre, a 315,000 SF Publix anchored community shopping center. Co-tenants include Planet Fitness, Verizon, 7-Eleven, and Exxon Gas.



RETAIL AERIAL



Investment Highlights

Excellent Site Level VisibilityThe subject property is positioned at the hard corner, signalized intersection of US 19 and US ALT 19, which have combined daily traffic of approximately 77,000 vehicles per day.

Phenomenal AccessThe subject property benefits from its multiple access points, with one each on US 19 ( 57,000) and ALT US 19 (19,700).

Strong Infill DemographicsThere are over 75,000 residents within three miles and 142,000 residents within five miles of the subject property.

Explosive Population GrowthFrom 2010 – 2018, the population within one mile of the subject property increased by 30%. The population within one mile is expected to grow by an additional 13% between 2018 – 2023.



RENT SCHEDULE

PERIOD

Year 1 - 6.5*

Year 6.5 - 11.5

Year 11.5 - 16.5

Year 16.5 - 21.5

Year 21.5 - 26.5

Year 26.5 - Year 31.5

*Tenant is not required to pay Base Rent for the first six months of the first Lease Year. Seller to credit Buyer the abated rent at Close of Escrow.

TERM

Base Term

Base Term

1st Option

2nd Option

3rd Option

4th Option

ANNUAL RENT

$84,358.09

$92,793.90

$102,073.29

$112,280.62

$123,508.68

$135,859.55

MONTLY RENT

$7,029.84

$7,732.83

$8,506.11

$9,356.72

$10,292.39

$11,321.63

INCREASE

-

10%

10%

10%

10%

10%

CAP RATE

6.00%

6.60%

7.26%

7.99%

8.78%

9.66%



SITE PLAN



ABOUT THE BRAND

Driven BrandsTake 5 Oil Change was acquired by Roark Capital portfolio company, Driven Brands in March of 2016 from Trivest Partners, L.P. Driven Brands is the nation’s leading franchise automotive company with more than 2,700 locations and 2.6 billion in system sales. In addition, Take 5 Oil Change Driven Brands is the parent company of a number of North America’s leading automotive brands including: Meineke, Maaco, Merlin, CARSTAR, Drive N Style, Quick Lube, Pro Oil Change and Econo Lube N’ Tune.

WEST COAST OIL BIZ, INC., the franchisee operator of this location, is one of the fastest growing franchisee’s in the system. They currently operate four locations with a development agreement to build an additional 11 locations in the Tampa MSA.

Take 5 Oil ChangeHeadquartered in Metairie, Louisiana and founded in 1984 Take 5 Oil Change is an industry leading fast lube chain currently operating 480+ locations in 19 states across the U.S. Focused exclusively on oil changes and ancillary services, including windshield wiper and air filter replacements, the company has aggressively expanded its footprint, growing from 13 locations in 2004 to 480+ locations today.

Take 5’s success stems from its niche focus of providing oil changes almost exclusively (approx. 90% of sales), at a superior speed with best in class customer service, in a low-pressure sales environment. Take 5 can complete an oil change in approximately 5-7 minutes of in bay time which is less than one third of the industry average. Servicing roughly 20,000 cars per unit annually, Take 5 Oil Change locations enjoy revenues that are 30% higher than the industry average and EBITDA margins significantly above industry averages.



LOCATION OVERVIEW

Holiday, FLHoliday is a census-designated place in Pasco County, Florida. It is a suburb of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area.

Attractive Job OpportunitiesHoliday has an unemployment rate of 3.8%, the US average is 3.9%. The job market increase by 2.4% over the last year. Future employment growth over the next ten years is predicted to be 44.3%, which is higher than the US average of 33.5%.

Strong Infill DemographicsThere are over 75,000 residents within three miles and 142,000 residents within five miles of the subject property.

Explosive Population GrowthFrom 2010 – 2018, the population within one mile of the subject property increased by 30%. The population within one mile is expected to grow by an additional 13% between 2018 – 2023.

Tampa, FLThe Tampa MSA population is already the largest of any metropolitan area in the state of Florida and is experiencing explosive population growth as it’s projected to grow from 3MM to 3.1MM in 2019.

Home to Four Professional Sport TeamsTampa has four professional sports teams: Tampa Bay Buccaneers (NFL), Tampa Bay Rays (MLB), Tampa Bay Lightning (NHL), and the Tampa Bay Rowdies (AFL).

Port Tampa Bay Welcomes Over 65 Million TouristOne of the largest seaports in the Southwest, Port Tampa Bay welcomes more than 65 million tourist visitors per year. The Largest Concentration of distribution centers totaling over 85 million square feet of space.

Three Public Universities Located Within a Short DriveThe University of South Florida, University of Central Florida, and the University of Florida are home to more than 150,000 students, over 60 percent of whom will stay in Florida upon graduation.

Tampa, FL

Port of Tampa, FL



LOCATION OVERVIEW

1. Busch Gardens 10165 McKinley Dr, Tampa, FL 33612

32 MILES FROM SUBJECT PROPERTY

2. Tampa Riverwalk 100 W. Kennedy Blvd, Tampa, FL 33602


3. Armature Works 1910 N. Ola Ave, Tampa, FL 33602


4. Raymond James Stadium4201 N. Dale Mabry Hwy, Tampa, FL 33607


5. Tampa Theatre 711 N. Franklin St, Tampa, FL 33602


6. Florida Aquarium 701 Channelside Dr, Tampa, FL 33602




LOCATION OVERVIEW

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Busch Gardens Busch Gardens Tampa Bay is a 335-acre African-themed amusement park located in the city of Tampa, Florida.

raymond james stadiumHome to the Tampa Bay Buccaneers of the National Football League this stadium seats 65,618 people.

Tampa Riverwalk Tampa Riverwalk is a 2.6-mile-long open space and pedestrian trail development along the Hillsborough River.

Tampa Theatre The Tampa Theatre is a historic theater in the Uptown District of Florida. It hosts more than 600 events each year.

Armature Works Armature Works is a fully restored mixed-use building that breathes new life into the historic Tampa Heights neighborhood.

Florida Aquarium The Florida Aquarium is home to more than 7,000 aquatic plants and animals from Florida and all over the world.



DEMOGRAPHICS

POPULATION

2024 Projection

2019 Estimate

2010 Census

Growth ‘19 - ‘24

Growth ‘10 - ‘19

HOUSEHOLDS

2024 Projection

2019 Estimate

2010 Census

Growth ‘19 - ‘24

Growth ‘10 - ‘19

Average Income

Median Income

3-Mile

83,244

75,356

65,423

10.47%

15.18%

3-Mile

35,743

32,411

28,031

10.28%

15.63%

$55,220

$39,050

1-Mile

17,604

15,571

12,061

13.06%

29.10%

1-Mile

7,934

7,027

5,427

12.91%

29.48%

$44,076

$33,386

5-Mile

156,235

142,427

127,396

9.69%

11.80%

5-Mile

66,970

61,180

54,789

9.46%

11.66%

$62,061

$42,961

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The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & Brian Brockman (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or com-parable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITYThis Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASEThis Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENTBroker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

JAMES CAPITAL ADVISORS, INC.

DISCLAIMER

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FOR INQUIRIES

PLEASE CONTACT

Richard BrehautDirector, Net Lease

(424) [email protected] RE Lic. 01934760

Brian BrockmanBroker of Record

(513) [email protected] RE Lic #: BK3327646Bang Realty - NaplesNaples, FLCORP. Lic #: CQ1049201

TAKE 5 OIL CHANGE - TAMPA, FL MSA JAMES …...Take 5 Oil Change was acquired by Roark Capital...

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