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Take 5 Oil Change 12861 S Harlem Ave 2,371 SF Retail Building Palos Heights, IL 60463 $1,539,000 ($649.09/SF) 5.85% Cap Rate
Investment Highlights
- 15-Year Lease | Franchisee Guaranteed | 10% Increases Every 5 Years
- Prime Retail Corridor | High-Traffic South Suburban Chicago Location
- Established Auto Service Brand | Driven Brands (NASDAQ: DRVN)
- Absolute NNN Leased Ground Lease | Zero Landlord Responsibilities
- Attractive Market Demographics | Dense & Established Trade Area
Executive Summary
SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire a leased fee interest (land ownership) in an absolute NNN leased, Take 5 Oil investment property located in Palos Heights, Illinois. The tenant, TWO Oil 5, LLC signed a 15-year lease with 6 (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 an out of state investor.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
2,371 SF
Building Class
C
Year Built
1985
Price
$1,539,000
Price Per SF
$649.09
Cap Rate
5.85%
NOI
$90,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.38 AC
Zoning
B - Business
Parking
7 Spaces (2.95 Spaces per 1,000 SF Leased)
Frontage
100’ on S Harlem Ave
Amenities
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-31-100-054-0000 | Improvements Assessment | $22,559 |
| Land Assessment | $10,871 | Total Assessment | $33,430 |
Property Taxes
Parcel Number
24-31-100-054-0000
Land Assessment
$10,871
Improvements Assessment
$22,559
Total Assessment
$33,430
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Take 5 Oil Change | 12861 S Harlem Ave
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