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1255 E Lafayette St, Tallahassee, FL

Property size: .52 AC / 22,651 SF
Structure: Bedrooms
For Sale
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1255 E Lafayette St

Offering Memorandum Take 5 Oil Change

Cushman & Wakefield | Boerke is pleased to present for sale Take 5 Oil Change located in Tallahassee, FL. This location executed a fifteen (15) year absolute net lease that terminates on February 6th, 2034 and features zero landlord responsibility. The lease for every location is corporately guaranteed by Driven Systems, LLC. Driven Brands was acquired by Roark Capital in 2015, an Atlanta based private equity firm with approximately $11 billion in equity capital raised since its inception.

  • Absolute net structure
  • NO landlord responsibility
  • Internet resistant tenant
  • Driven Systems, LLC ($540,000,000.00 NET WORTH) guaranty
  • 10% rental escalations every five (5) years
  • Located in Tallahassee, FL
  • Location has been rebranded with Take 5 corporate trade dress

Basic Details:

Tenant / Guarantor Take 5 / Driven Systems LLC

Business Type Oil change

Site Size 0.52 AC / 22,651 SF

Initial Lease Term Fifteen (15) years

Extension Options Three (3) – five (5) year options

Lease Commencement 2/7/2019

Lease Expiration 2/6/2034

Rent Increases 10% every five years

Lease Type Absolute triple net

Net Operating Income (NOI) $54,200.63*

Cap Rate 6.00%

Pricing $904,000*

*NOI and Price are based on a rent increase taking place 2/7/2024. Seller will credit the Purchaser the difference in rent at closing.

Full Address: 1255 E Lafayette St, Tallahassee, FL 32301, USA
Simple Address:
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Country: US
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