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Take 5 Oil Change 1083 Orange Ave 1,408 SF Retail Building West Haven, CT 06516 $1,285,714 ($913.15/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-year sale leaseback at close of escrow with 10% rental increases every 5 years during the primary term
- Rare opportunity to purchase a nationally branded absolute NNN asset in the Northeast, situated halfway between New York City and Hartford, CT
- Strong traffic counts of approximately 21,000 VPD on Boston Post Road
- Building renovated in December 2022, including new signage
- Excellent visibility & signage from the corner location of Boston Post Road & Jaffrey Street
- Subject property is located within 1-mile of the newly developed 200,000 SF Amazon distribution facility with over 100 employees and 15 loading docks
EXECUTIVE SUMMARY
This Take 5 Oil Change, located halfway between New York City and Hartford, CT, features a 15-year sale leaseback with 10% rental increases every 5 years during the primary term. Strong national tenant, with parent company system-wide sales of over $6.2 billion (FY, 2023). Subject property is located in a dense retail node on Boston Post Road.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,408 SF
Building Class
C
Year Built/Renovated
1985/2022
Price
$1,285,714
Price Per SF
$913.15
Cap Rate
7%
NOI
$90,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.36 AC
Opportunity Zone
Yes
Parking
9 Spaces (6.39 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
1 of 6
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Take 5 Oil Change | 1083 Orange Ave
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