June 16, 2022 – Matt Siebert of Horvath & Tremblay has successfully completed the sale of Take 5 Oil Change in West Palm Beach, Florida. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,000,000.
The Take 5 Oil Change is located at 1935 N Jog Road in West Palm Beach, Florida. The new construction, stand-alone building was completed in 2022 and consists of 1,430 square feet and sits on 0.36 acres of land. Take 5 Oil Change completed a sale-leaseback, executing a new 15-year Absolute NNN Lease upon closing with five (5), 5-Year Options. The lease features 10% rent increases every five years throughout both the current term and the option periods. Take 5 Oil Change is strategically positioned along N Jog Road, one of the primary commercial corridors in the area. The property has multiple points of ingress/egress, including direct access to the signalized intersection of Okeechobee Boulevard and Jog Road, which sees 89,500 VPD. Strong national and regional tenants in the immediate submarket, including Publix Supermarket, Walmart, Home Depot, CVS, Walgreens, and McDonald’s, all help drive traffic. Looking forward, Take 5’s unique business model and aggressive expansion plans, coupled with the strong submarket, will ensure longevity in this location for years to come.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.