Take 5 Oil Change CONFIDENTIAL OFFERING MEMORANDUM - Mauldin, SC - Furman Capital Advisors
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Take 5 Oil Change
Mauldin, SC
CONFIDENTIAL OFFERING MEMORANDUM
TABLE OF CONTEN T S EXC L U S I V E LY LI S T E D B Y
Investm en t Overview Rob Schmidt
03 Executive Summary Broker
rschmidt@furmancap.com
864 678 5995
Pro perty Overview
04 Regional Map
05 Retailer Map
06 Property Survey Drew Stamm
Broker
dstamm@naief.com
864 678 5996
Te nant Overview
07 Tenant Summary
Ma rke t Overview
08 Market Analysis
10 Demographics
Furman Capital Advisors, LLC
101 E. Washington Street, Suite 400
Greenville, SC 29601 | 864.235.6855
FurmanCapital.com
INVESTMENT OVERVIEW
E xecu ti ve S u m m a ry
LEASE SUMMARY FINANCIAL SUMMARY
110 W Butler Road
Address NOI $68,000
Mauldin, SC 29662
Lease Type Absolute Net Ground Lease Cap Rate 6.00%
Total Land Size ±0.517 Acres List Price $1,133,000
Tenant NLJ Ventures, LLC dba Take 5 Oil Change
Remaining Term 10 Years RENT SCHEDULE
Lease Commencement 12/1/2017 INITIAL TERM MONTHLY ANNUAL
Lease Expiration 11/30/2028 Years 1-5 $5,666.67 $68,000
Years 6-10 $6,233.34 $74,800
Increases 10% increases every five years
Year 11 $6,856.67 $82,280
Options (5) Five Year Option 1
Security Deposit $11,333.33 Years 12-15 $6,856.67 $82,280
Year 16 $7,542.34 $90,508
Option 2
INVESTMENT STRENGTHS Years 17-20 $7,542.34 $90,508
Year 21 $8,296.57 $99,559
• Absolute Ground Lease: Zero Landlord responsibilities
• Seasoned and Successful Franchisee: Son and Grandson Option 3
of the Take 5 founder Years 22-25 $8,296.57 $99,559
• Attractive Rent Growth: 10% increases every five years
Year 26 $9,126.22 $109,515
• Dense Retail Submarket: Located in Mauldin’s primary
retail corridor with Publix, Ingles, Kmart, Starbucks, BILO, and Option 4
Dunkin Donuts Years 27-30 $9,126.22 $109,515
• Booming Greater Market: Greenville is one of America’s Year 31 $10,038.85 $120,466
hottest emerging destinations and fastest growing cities.
Option 5
From a revitalized downtown ranked among “America’s Ten
Best” by Forbes Magazine to the influx of major employers Years 32-35 $10,038.85 $120,466
such as BMW, Michelin, GE, and Lockheed Martin Aircraft. Year 36 $11,042.73 $132,513
3. Ta ke 5 | Mauldin, SC
PROPERTY OVERVIEW
Reg ion al M ap
Asheville
70 Miles
From Site
Charlotte
110 W Butler Rd SITE
Mauldin, SC 101 Miles
Spartanburg
29662 From Site
Greenville
30 Miles
From Site
8 Miles
From Site
Columbia
93 Miles
Atlanta From Site
149 Miles
From Site
4. Ta ke 5 | Mauldin, SC
PROPERTY OVERVIEW
Ret a il er M ap
5. Ta ke 5 | Mauldin, SC
PROPERTY OVERVIEW
S u rv e y
#5RBF
S 23°26'10" E
139.74'(TIE)
N/F
INGLES MARKETS INC.
PIN # M008010101500
35' R/W & EASEMENT
DB 1069 PG 976 BENEFITING PIN#M008010101501
PB 5R PG 93 & 94 (DB 1069, PG 411)
(5) AMERICAN HOLLY
(5) BOXWOOD
(5) INDIAN HAWTHORN (5) ENGLISH HOLLY W
CONCRETE
(5) GREEN ASH
SIGN
PRELIMINARY PLANS
N 61°44'33" E N 62°05'48" E IPF 1/2"
130.29'(TIE) 39.53'(TIE ONLY)
IPF 1"
NOT FOR CONSTRUCTION
PINCH
S
N/F NORTH AR
SOWS EAR LLC 0 10 20
40' INGRESS / EGRESS & UTILITY EASEMENT
SOD
PIN # M008010101507
& BENEFITING PIN#M008010101504
DB 2293 PG 1981
PART OF PIN # M008010101500
AREA: GRAPHIC SCA
22,441.3 SF
(DB 1052, PG 821)
0.515 AC
(33) BOXWOOD BACK OF CURB
X
FORMS ±3' WALL
X
(2) RED MAPLE
CONCRETE CHANNEL (POOR CONDITION)
N/F
N/F 6 MAULDEN REALTY LLC
FIRST CITIZENS BANK SOD SOD
S 28°08'46" E
PIN # M008010101501
187.49'(TIE)
PIN # M008010101504 DB 2165 PG 1776
DB 1052 PG 821 PB 50-I PG 29
PB 5R PG 93
TAKE 5 OIL CHANGE
110 WEST BUTLER ROAD, MAULDIN, SC
PIN: M008010101507
2
(7) AMERICAN HOLLY
(7) BOXWOOD
(7) INDIAN HAWTHORN (7) ENGLISH HOLLY
(5) FLOWERING DOGWOOD
SOD
N 61°41'21" E S 61°41'32" W
39.96'(TIE) 30.54'(TIE) EXISTING R/W
N 61°51'09" E S 60°25'34" W
EXISTING R/W
129.99'(TIE) 53.60'(TIE)
CONCRETE
#4RBF
EX-MH
EXISTING OVERHEAD POWERLINES EX-MH CL INV:928.45'
CL INV:931.09' RIM:937.52'
RIM:937.63'
EX-MH
CL INV:928.22'
RIM:937.41'
WEST BUTLER AVENUE
S. C. H I G H W A Y - 1 0 7
N4
649
GR '55" W
VARIABLE WIDTH PUBLIC R/W
8°5
.01'
ID T
1
IE
(GR
REVISIONS:
ID)
2017-06-28 - PER CITY
6. Ta ke 5 | Mauldin, SC
TENANT OVERVIEW
Ten a nt S u m m ary
Franchisee Name NLJ Ventures, LLC
Franchisor Name Take 5 Oil Change
Franchisee Locations 4
Website www.take5oilchange.com
Year Founded 1984
Founded in Metairie, LA in 1984, Take 5 Oil Change’s
mission is to provide fast, friendly, affordable oil changes
with emphasis on an exceptional customer experience. To
date, Take 5 and its affiliates operate 300 Take 5 branded
locations in 13 states, with plans to enter five new states
and expand by more than 80 locations in the next year.
They currently have ±1,000 employees, and their long term
goal is expanding our company-owned and franchised
store footprint to more than 2,000 locations within ten
years.
Take 5 Oil Change’s mission is to set service standards
and achieve customer satisfaction standards that exceed
every customer’s expectation by maintaining the highest
possible level of employee training and development.
Their model is designed for speed and convenience with
our unique “stay-in-your-car” experience. On average,
their oil changes are completed in eight minutes.
NLJ Ventures is comprised of the son and Grandson of the
founder of Take 5 Oil Change. They currently operate four
locations. REPRESENTATIVE PHOTO
7. Ta ke 5 | Mauldin, SC
MARKET OVERVIEW
M a rk et An al ys i s
Mauldin,
South Carolina
Suburban Community with an International Reach
CityofMauldin.org
The City of Mauldin shines like a beacon in the heart of Upstate South
Carolina – three hours from the coastline, just over an hour from the
Mauldin’s changing from a pass-through city to
Blue Ridge Mountains, and 15 minutes from Greenville-Spartanburg
International Airport. The City’s central location, convenient accessibility to one where residents, businesses want to stay
I-85 and I-385, exceptional infrastructure support, incentives, and highly Greenville Journal | Sept. 20, 2018
skilled work force make it the ideal landscape for businesses to locate.
Read the full article HERE. Mauldin is going through a growth spurt. Mauldin City has seen a
boom in construction spending over the past three years.
Since 2016, construction spending has increased 150 percent,
from nearly $18.4 million to more than $46 million, and city
officials say the growth is overdue and not expected to end
anytime soon.
“One thing Mauldin has going for it is, as the real estate adage
says, ‘location, location, location,’” Matney said of the city’s
proximity to interstates 385 and 85, the Southern Connector,
and the Inland Port.
Mauldin was recently listed as the top ranked community on
Money Magazines “Best Places to Live” list. They have also been
recognized by NerdWallet as one of the 10 best cities to start a
business.
Read the full article HERE.
8. Ta ke 5 | Mauldin, SC
MARKET OVERVIEW
M a rk et An al ys i s
Greenville,
South Carolina
LOCATION COMMERCE
• 4th among 15 of the fastest-growing large cities in the U.S. • Home to national and international corporations such as Fluor
according to population estimates by the U.S. Census Bureau. Corporation, Hubbell Lighting, BMW and Michelin North America.
• Centrally located along the I-85 corridor directly between 2 • Other major businesses include Bausch and Lomb, the Perrigo Company
of SC, Greenville Hospital System, Ernst and Young, IBM, Charter
of the largest cities in the Southeast - Atlanta, Georgia and
Communications, Dunlop Slazenger Group, Liberty Corporation Bank of
Charlotte, North Carolina.
America, GE Power & Water, Day & Zimmerman, Scan Source, Lockheed
• Located 100 miles from the capitol city of Columbia and only Martin Aircraft, Windstream, SYNNEX Corporation and TD Bank.
200 miles from the Port of Charleston SC.
INFRASTRUCTURE ACCOLADES
• Greenville-Spartanburg International Airport is the 2nd busiest • #3 Top Small City in the U.S. (Condé Nast Traveler Readers’ Choice Awards) 2017
airport in the state with about 2.02 million passengers in 2016. • #9 Top 10 Cities for Millennials to Live in (Growella.com)
• 3 Interstate highways offer easy access to the North, South, • 23 Best Small Town Main Streets in America (Country Living) 2017
Midwest, and all major markets on the Eastern Seaboard. • 5 Top Places in the US to Retire (The Today Show) 2017
• Home to the Inland Port Greer connecting the Upstate to the • #13 of 52 Places to Go ‘In The World’ in 2017 (The New York Times) 2017
Port of Charleston. • The 10 Best Emerging Destinations (USA Today 10 Best) 2016
• Top 10 Best Places to Live (Men’s Journal) 2016
• Top 10 Fastest Growing Cities in the U.S. (CNN Money)
HIGHER EDUCATION • #35 Best Place to Live (U.S. News & World Report)
• Top 4 Best Places to Raise a Family (MarketWatch) 2016
• Clemson University, Furman University, Bob Jones University,
• #2 Best City in America to Start a Business In (Xome) 2015
North Greenville University and Limestone College-Greenville
among others are all located in Greenville. • Top 10 Small Cities Where Business is Thriving (Entrepreneur) 2015
• 3rd Strongest Job Market (Bloomberg) 2010
9. Ta ke 5 | Mauldin, SC
• 13th Best City for Young Professionals (Forbes)
MARKET OVERVIEW
D e mograph i cs
Distance From Property
1 Mile 3 Miles 5 Miles
Population
2018 6,674 44,734 122,964
2023 Projected 7,061 49,048 134,314
Growth 2018-2023 1.13% 1.86% 1.78%
2018 Median Age 39.7 38.7 38.9
2018 Total Daytime Population 8,323 48,847 147,349
Households
2018 2,834 18,046 49,022
2023 Projected 2,995 19,738 53,488
Average Household Income
2018 $61,091 $79,326 $85,272
1-Mile
2023 Projected $69,237 $89,256 $95,540
Source: esri
3-Miles
5-Miles
122,964 49,022 $85,272
10. Ta ke 5 | Mauldin, SCDISCLAIMER
This Offering Memorandum contains select information pertaining to the business and affairs of the property located at 110 W Butler
Rd, Mauldin, SC 29662 (“Property”). It has been prepared by Furman Capital Advisors (“Agent”). This Offering Memorandum may not be
all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in the Offering Memorandum
is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any
other purpose or made available to any other person without the written consent of Owner or Agent. The material is based in part
upon information supplied by the Owner and in part upon financial information obtained from sources it deems reliable. The Owner, nor
their officers, employees, or agents make any representation or warranty, express or implied, as to the accuracy or completeness of
this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective
purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and
conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum for the Property, you agree:
1. The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum
or its contents in any fashion or manner detrimental to the interest of the Owner.
Owner and Agent expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the
Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the
Property unless and until a written agreement for the purchase and sale of the Property has been fully executed by all parties and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then
you agree to purge all materials relating to the Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided
herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement
and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Agent or any
of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or
cause of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there
has been no change in the state of affairs of the Property since the creation of this Offering Memorandum.
11. Ta ke 5 | Mauldin, SC101 E. Washington Street, Suite 400 | Greenville, SC 29601
864.235.6855 FurmanCapital.com
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