July 10, 2024 – Charles Moody of Horvath & Tremblay has successfully completed the sale of a new construction Take 5 Oil Change in Spring, Texas. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,252,656.
Take 5 Oil Change is located at 442 Rayford Road in Spring, Texas. Take 5 Oil Change consists of a 1,508 square foot building with three (3) automotive bays and an office/retail area. Take 5 Oil Change has been at this location since 2017 and has 2+ years remaining on their Absolute NNN Ground Lease with four (4), five-year renewal options. Their lease calls for attractive rent increases at the start of each renewal option. The property is well located along Rayford Road, the area’s primary commercial corridor, and enjoys outstanding visibility, frontage and access. Take 5 Oil Change is an outparcel to the Rayford Ridge Shopping Mall and is part of a dominant trade area that is home to numerous national retailers and restaurants, all of which drive significant traffic to the area. On average more than 41,200 vehicles pass the Property daily at the signalized intersection of Westpark Drive and S TX Highway 6. Additionally, the Property is within minutes of several area schools, multiple nationally branded hotel/motels, and is surrounded by residential neighborhoods providing a built-in customer base.
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.