Take 5 - Ground Lease

Retail-Commercial for Sale
Catylist Listing ID: 30622314
Property Subtypes: Street Retail, Vehicle Related
Building Status: Under Construction
Building Size (RSF): 1,462 SF
Gross Building Area: See Agent
Sale Price: $1,409,523
Unit Price: $964.11 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: Undisclosed
Last Updated: 9/18/2020

Overview / Comments

Offering a Take 5 Oil Change Ground lease In a prime retail corridor of Midland, TX. Highway frontage and traffic counts exceeding 20,000 VPD place this Take 5 in a great location. Dozens of national and local retailers and business in the immediate area including, Walmart, Holiday Inn Express, Hampton Inn, Comfort Inn, Quality Inn, Discount Tire, AutoZone, Tractor Supply, Verizon Wireless, Cricket Wireless, McDonald's, Burger King, Popeyes, McAlister's Deli, Starbucks and many more. About 1/4 mile north of I-20 with dense residential to the immediate north, make this arterial road a strong ingress/egress for residents in the area. Additionally, Downtown Midland is only 1.25 miles north on Rankin Highway.

The ground lease features a 10-year absolute NNN term with four 5-year options to extend and ten percent (10%) rental increases in the base term and options.

The Take 5 consists of a 2,000 SF building with 3 bays for service on 0.36 acres.

• CAP RATE: 5.25%
• 1,462 SF
• Highway Frontage
• 20,000 + VDP

Attachments & Media

Additional Details

Nearest MSA: Midland
County: Midland
Tax ID/APN: 170000500120

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,607 48,602 109,597
Median Age: 27.43 32.95 33.55
Households: 1,904 16,773 40,865


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