Take 5 | Newly Extended Triple Net Ground Lease |… — Sale in Norman, OK
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Norman, OK 73071
Photos
Investment Figures
- Cap rate
- 6.00%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present the offering for Take 5 in Norman, OK. Investment Highlights: • SINGLE TENANT TAKE 5 OIL CHANGE LOCATION: 2,644-square feet on a 0.66 acre lot with three drive-in work bays. • NEWLY EXTENDED TRIPLE NET GROUND LEASE: 11+ years remaining on NNN ground lease after early lease extension with 4, 5-year renewal options & 10% rental increases in each. No landlord responsibilities. • CORPORATE GUARANTEE: Lease is guaranteed by Take 5, with over 1,000 locations across 42 states. Take 5 is a owned by Driven Brands, the largest automotive services company in North America. • FEE SIMPLE OWNERSHIP: Provides the buyer with the highest form of real estate ownership and absolute control over the asset. • HIGH-VISIBILITY LOCATION: Outparcel to Alameda Square shopping center with high visibility and lighted sign. Easy access from both traffic directions. 12th Avenue South East sees 24,400 vehicles per day. • DENSE RETAIL CORRIDOR: Located near multiple national tenants including Walmart Supercenter, Planet Fitness, Walgreens, Harbor Freight, McDonald's, KFC, Chick-fil-A, Public Storage, Raising Cane's and many more. • 1.5 MILES FROM THE UNIVERSITY OF OKLAHOMA CAMPUS: The University of Oklahoma is the largest university in Oklahoma with over 40,000 students and staff, and NCAA Division I athletics. The subject property is two miles from Gaylord Family Memorial Stadium with a capacity of 85,000. • PROXIMITY TO DOWNTOWN NORMAN AND OKLAHOMA CITY MSA: Norman is the third most populous city in Oklahoma, 20 miles from downtown Oklahoma City, the largest city and the state capital. The Oklahoma City metro has a population of 1.5 million.
Market Context
This retail in Norman, OK is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Norman, OK — view the full market.
Contact
- Dan Yozwiak · (614) 360-9036 · dan.yozwiak@marcusmillichap.com
- Dante Moretti · (614) 360-9077 · dante.moretti@marcusmillichap.com
- DP Patel · (813) 387-4812 · darpan.patel@marcusmillichap.com
- Tim Speck · (918) 294-6300
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