1502 Charles Ave
Plant City, FL 33563
Retail Property For Sale

Marcus & Millichap is pleased to exclusively offer for sale this 2,340-square-foot Take 5 Oil Change located in Plant City, FL. The property lies on busy Charles Avenue with easy ingress and egress for traffic traveling north and south. The property caters to the local residents and businesses with an average household income of $60,103. Take 5 has 10.5 years remaining on the base term of the lease with two five-year option periods. This absolute triple-net-lease is backed by a corporate guarantee from Take 5 Properties SPV, LLC, which operates over 218+ locations in several states across the country. There are 10 percent rent increases every five years throughout the initial term with the next increase approaching in 2018. Take 5 Oil Change is a concept that first opened in 1984. With a focus on efficiency and convenience, Take 5 has become well known for their signature 5 Minute Drive Thru Oil Change. The magic of the concept is the customer never needs to get out of their car. Upon pulling in, the car becomes surrounded by a skilled pit crew that performs all services simultaneously. This rapid, but precise action process enables customers to spend just five minutes at the facility -- hence the name "Take 5". It was voted the Fastest Growing Automotive Service Company in 2017 and is revolutionizing the oil change industry. Take 5 Properties SPV, LLC was recently acquired by Driven Brands, Inc., which operates as an automotive franchise company that provides aftermarket services and has over 2,200 locations. They offer auto painting and collision repair services, automotive car care solutions, vehicle longevity programs, vehicle appearance care and enhancement services, lube and general repair services, oil change services and auto body repair services among other offerings that serve businesses and consumers worldwide. Driven Brands, Inc. was formerly known as Meineke Holding Company, Inc. and was founded in 1972. Driven Brands is a subsidiary of Roark Capital Group, which operates over 30,000 units across 64 franchise brands in all 50 states and 78 countries. Roark capital generates approximately $31 billion in system-wide revenues.