1720 E 10th St - Auto Repair FOR SALE


Sioux Falls, SD 57103
$1,600,000 USD
949-506-2009
1720 E 10th St, Sioux Falls, SD for Sale
$1,600,000 USD
Auto Repair - FOR SALE
1/4
null | 6.75% Cap Rate

1720 E 10th St
Sioux Falls, SD 57103


HIGHLIGHTS

  • Newer (2022) construction asset
  • Absolute triple net lease | Zero landlord responsibilities
  • New, 15-year lease sale leaseback with 10% rent increases every 5 years throughout the initial term and options | Avg CAP of 7.45%, at List Price
  • Personal guaranty from the principal operator | Currently has 5 sites open and operating | Contact Agent for details
  • Ideal, brand-driven demographics with 90,430 residents with an average HH income exceeding $89,700 within a 3-mile radius
  • Growing area | Population is projected to grow by 1.34% annually within a 1-mile radius over the next 5 years

OVERVIEW

• Newer (2022) construction asset • Absolute triple net lease | Zero landlord responsibilities • New, 15-year lease sale leaseback with 10% rent increases every 5 years throughout the initial term and options | Yields and average CAP of 7.45%, assuming purchase at List Price • Personal guaranty from the principal operator | Currently has 5 sites open and operating | Contact Agent for details • Excellent access and visibility from 10th Street over 20,500 VPD • Walking distance to Downtown Sioux Falls • Less than half-a-mile from I-229 which sees 31,840 VPD • Ideal, brand-driven demographics with 90,430 residents with an average HH income exceeding $89,700 within a 3-mile radius • Growing area | Population is projected to grow by 1.34% annually within a 1-mile radius over the next 5 years • About 2.5 miles from: • University of Sioux Falls | ±1,600 students • Sanford USD Medical Center and Hospital | 545 beds • Dawley Farm Village | Shopping mall anchored by Target, Kohl’s, & Burlington • A Walmart Supercenter-anchored center • Take 5 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations in 42 states with an additional 300+ sites in the pipeline • Ranked #87 on Franchise Times’ Top 400 • Ranked #106 on Entrepreneur’s Franchise 500 • Contactless, “Stay in your Car, 10-Minute Oil Change” | COVID resistant concept with limited scope of work to avoid “upselling”

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$1,451 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil Change | 15-Yr NNN | 7.45% Avg CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

-

APN/PARCEL ID

90509

ASK ABOUT THIS PROPERTY

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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Calvin ShortSRS National Net LeaseMore Info
949-506-2009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.