Investment Offering
Henderson, NV - Take 5 Oil Change
601 Whitney Ranch Drive | Henderson, NV 89014
Description
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment property located in Henderson, Nevada. The tenant, Take 5 Oil Change recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% 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. The newly-constructed building will features a state-of-the-art design and high-quality materials. Take 5 has over 800 company-owned and franchised service centers throughout the United States and Canada. The store’s grand opening took place in Q4 of 2023 and has been performing exceptionally well, surpassing all pro-forma financial projections.
Location
The Take 5 Oil Change is located near the signalized, hard corner intersection of W. Sunset Rd. and Whitney Ranch Dr. with a combined (32,500 VPD). The site benefits from nearby direct on/off ramp access to Interstate 515, a major thoroughfare averaging over 134,000 vehicles per day. Furthermore, the site is located in an immense retail corridor that includes Galleria at Sunset, a 1,080,000 regional mall anchored by Dillards, Macy’s, Dick’s Sporting Goods, Petco, Best Buy, and more. Other nearby national/credit tenants include Walmart Supercenter, Costco, CVS Pharmacy, Target, Sprouts, Chick-fil-A, Starbucks, Home Depot, Lowe’s, Old Navy, 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 337,000 residents and 135,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property have an average household income of $97,445.
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]NV #: B.1003241.LP