Take 5 | Plant City

Take 5 | Plant City

Take 5 | Plant City
1502 Charles Ave
Plant City, FL 33563

$1,560,000

Cap Rate 7.00%
Gross Leasable Area (GLA) 2,340 Sq.Ft.
Price Per Square Foot (GLA) $666
Year Built 1996
Lot Size 0.45 Acres
  • 12-16 Years Remaining on Management Free Net Leases
  • 65 Unit Guarantee Operated by Driven Brands of Roark Capital
  • Ideal Locations Across Various Tampa Markets
  • 10 Percent Increases Every 5 Years
  • Established History Operating These Locations
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Take 5 | Plant City (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to offer for sale this three property portfolio of quick service oil lube facilities located in well-positioned markets across the Tampa, Florida MSA. These properties are well-positioned within their submarkets with frontage on major thoroughfares, easy ingress/egress, and exposure to both the local demographics and their respective commuter population.

This opportunity provides an investor with a passive management-free cash flow stream on long term leases averaging over 13 years remaining, while also diversifying their investment across three major Tampa market locations. There are 10 percent rent increases every 5 years throughout the initial lease term on all three locations with the next increases approaching in 2018. Including rent bumps, the blended average return is 7.61 percent on the base term of the leases.

The tenant backing all three locations is Driven Florida Lubes, Inc., a 65-unit subsidiary of Driven Brands, which operates 1,700 units worldwide. In addition, Driven Brands is an auto-related portfolio company of Roark Capital Group, a large private equity company operating 58 franchise brands that generate approximately $23 billion in revenue from 26,000 unit-level locations. An investor can rest easy knowing that their investment is not only diversified across three separate locations, but also managed by an experienced company operating their assets at an extremely high level from the ground up.

This Driven Brands operated portfolio offers investors an opportunity to acquire three management-free, stabilized assets with long-term appreciation value in thriving sub-markets of the booming Tampa MSA.

For More Information, Please Contact:

James Garner

Associate
(813) 387-4796
James.Garner@MarcusMillichap.com