STRICKLAND BROTHERS - AUBREY LINVILLE - LoopNet
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STRICKLAND BROTHERS
702 E. MAIN STREET, HAVELOCK, NC 28532
PRESENTED BY: AUBREY LINVILLE JORDAN COOPER
E Aubrey@LTPcommercial.com E Jordan@LTPcommercial.com
M 336.345.7300 M 303.717.3160
P 336.724.1715 P 336.724.1715
HIGHLIGHTS
TENANT INFORMATION
The mission of Strickland Brothers 10 Minute Oil Change is to exceed the
expectations of every customer by setting and meeting service standards that are
innovative and centered around the highest level of service, every time. Their aim is to
Q U I C K L U B E AU TO M OT I V E provide dependable services and quality products for a fair price in a friendly, honest
I S A N $ 8 B I L L I O N I N D U S T RY
and accommodating environment.
INVESTMENT OVERVIEW
I N D U S T RY AV E R AG E S 3 . 2 • TENANT: Strickland’s Enterprises, LLC (Corporate Store)
OIL CHANGES PER CAR
PER YEAR • PRICE: $700,000
• CAP RATE: 6%
• LEASE: 15-Year Absolute NNN
• RENEWAL: Four 5-Year Options
• RENT INCREASE: 10% Increases Every 5 Years
• NOI: $42,000
• LOCATED: Near the Marine Corps Air Station Cherry Point, on East Main Street
THERE ARE MORE THAN with 30,000 VPD
230M LICENSED DRIVERS
IN THE U.S.
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TENANT INFORMATION
FOUNDED H E A D Q UA R T E R S
2016 W I N S TO N - S A L E M ,
NORTH CAROLINA
N U M B E R O F L O C AT I O N S WEBSITE
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12 FR ANCHISE UNITS IN
D E V E LO P M E N T
TRIAD BUSINESS JOURNAL
FA S T 5 0 AWA R D W I N N E R , 2 0 2 1
INC. 5000
A M E R I C A’ S 2 N D FA S T E S T
G R O W I N G P R I VAT E
C O M PA N I E S , 2 0 2 0
N AT I O N A L O I L & L U B E N E W S
B E S T WO R K P L AC E S , 2 0 2 0
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INVESTMENT OVERVIEW
K E Y FE ATU RES
D E SCR I P TIO N
Linville Team Partners is pleased to exclusively offer for sale the Strickland
Brothers 10 Minute Oil Change at 702 E. Main Street, Havelock, NC 28532.
This opportunity includes a new 15 year Absolute NNN lease with four (4)
five (5) year renewal options and 10% escalations every 5 years.
O F F E R I N G S U M MARY
PRICE $700,000
CAP RATE 6%
NOI $42,000
Strickland’s Enterprises, LLC
GUARANTOR
(Corporate Store)
P RO P E R T Y S U M MARY
702 E. Main Street
ADDRESS
Havelock, NS 28532
BUILDING SIZE 2,088 SF
LAND SIZE 0.46 Acres
YEAR BUILT 1997
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The information contained herein has been taken from sources deemed to be reliable. Linville Team Partners makes no representation or warranties, expressed or 4
implied, as to the accuracy of this information. All information in this document is subject to verification prior to purchase or lease.
INVESTMENT OVERVIEW
K E Y FE ATU RES
LE A S E S U M MARY
Strickland Brothers 10 Minute Oil
TENANT
Change (Corporate Store)
LEASE COMMENCEMENT 5/11/2021
LEASE EXPIRATION 5/31/2036
LEASE TERM 15 Years From RCD (5/11/2021)
RENEWAL OPTIONS Four Five-Year Renewals
LEASE TYPE Absolute NNN
E XP E N S E S
TAXES Tenant
INSURANCE Tenant
COMMON AREA Tenant
ROOF STRUCTURE Tenant
REPAIRS & MAINTENANCE Tenant
HVAC Tenant
UTILITIES Tenant
RIGHT OF FIRST REFUSAL Yes
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The information contained herein has been taken from sources deemed to be reliable. Linville Team Partners makes no representation or warranties, expressed or 5
implied, as to the accuracy of this information. All information in this document is subject to verification prior to purchase or lease.
SITE INFORMATION
SF
ADDRESS S Q UA R E F O OTAG E
70 2 E . M A I N S T R E E T 2,088 SF
H AV E LO C K , N C 2 8 5 3 2
AC
AC R E S Y E A R B U I LT
0.46 1 9 97
PA R K I N G S PAC E S TRAFFIC
8 30,000 VPD
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SITE PHOTOS
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AERIAL
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MARKET OVERVIEW
HAVELOCK,
NORTH CAROLINA
Havelock is home to the Marine Corps Air Station Cherry Point, the
world’s largest Marine Corps Air Station and home to the 2nd Marine
Aircraft Wing. In 2018, the median property value in Havelock, NC was
$137K with the homeownership rate at 37.6%. Most people in Havelock, NC
drove alone to work, and the average commute time was 15.8 minutes. The
average car ownership in Havelock, NC was 2 cars per household.
P O P U L AT I O N P O P U L AT I O N AG E
18+
24 , 4 6 1
76 %
MEDIAN HH INCOME AV E R AG E H H I N C O M E
$ 47, 1 0 1 $58,029
*WITHIN 5 MILE RADIUS OF SITE
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DISCLAIMERS
Linville Team Partners has been retained as the exclusive Broker regarding the sale of this Net Leased property and hereby advises all
prospective buyers as follows:
PRESENTED BY: This Offering Memorandum has been prepared by Linville Team Partners and the information contained herein has been taken from
sources believed to be reliable. Linville Team Partners has not verified it and makes no representation or warranties, expressed or im-
plied, as to the
accuracy or completeness of this information.
AUBREY LINVILLE All information in this document is subject to verification by the Buyer prior to purchase. The Offering Memorandum does not claim
to be all-inclusive or contain all information that a Buyer of this property may need or desire. As the potential Buyer of a net leased
E Aubrey@LTPcommercial.com property, it is the Buyer’s responsibility to complete a thorough due diligence investigation of this property to determine whether it is
suitable to their needs. Linville Team Partners denies any obligation to carry out a due diligence examination for the Buyer.
M 336.345.7300
As with any real estate investment, this Net Leased property carries significant risks. The Buyer and their legal and/or financial advisors
P 336.724.1715 should conduct a careful investigation of all legal and financial documents related to this property and tenant. Any projections, opinions,
assumptions or estimates used in this Offering Memorandum are only examples and do not represent the present or future performance
of the property. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of fu-
ture success. In addition, the lease rate for some properties, especially new construction or newly-acquired locations, may be set based
on the tenant’s projected sales with little or no record of actual performance or comparable rents for the area. Returns are not guaran-
JORDAN COOPER teed; the tenant(s) and any guarantor(s) may fail to pay the lease rent, property taxes, or may fail to comply with other material terms of
the lease. Cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of
tenant history and lease guarantees, the Buyer is responsible for conducting an investigation of all matters affecting the intrinsic value
E Jordan@LTPcommercial.com of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant
M 303.717.3160 should default or abandon the property, and the lease terms that the Buyer may be able to negotiate with a potential replacement ten-
ant considering the location of the property and the Buyer’s legal ability to make alternate use of the property.
P 336.724.1715
The Owner expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the proper-
ty and/or to terminate discussions with the Buyer at any time without notice. The Owner has no legal commitment or obligations to any
Buyer reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of
the Property has been fully executed, delivered and approved by the Owner. The Buyer agrees not to contact the tenant, their employ-
LINVILLE TEAM PARTNERS ees or customers without prior permission from the Owner.
206 West Fourth Street Linville Team Partners is not affiliated with or endorsed by the commercial tenant or lessee identified in this Offering Memorandum. The
use of the tenant’s name or logo is not intended to imply any affiliation with or endorsement by Linville Team Partners. Its inclusion is
Winston-Salem, NC 27101 solely for the purpose of providing tenant lessee information about this listing to prospective customers.
336.724.1715 By accepting this Offering Memorandum, the Buyer agrees to release Linville Team Partners and hold it harmless from any claim, cost,
expense or liability arising out of the buyer’s investigation and/or purchase of this Net Leased property.
All showings of this property are by appointment only. Please contact your broker for more details.
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