TAKE 5 OIL CHANGE GROUND LEASE INVESTMENT - 1584 WEST 2000 NORTH LAYTON, UTAH 84041
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*Not actual photo of property
TAKE 5 OIL CHANGE
GROUND LEASE INVESTMENT
CHAD MOORE
1584 WEST 2000 NORTH cmoore@mtnwest.com
direct 801.456.8801
LAYTON, UTAH 84041 View Profile
TABLE
OF CONTENTS
4 EXECUTIVE
SUMMARY
PROPERTY
5 FEATURES
6 PROPOSED
SITE PLAN
8 AERIALS
12 TT MAP
13 TENANT PROFILE
14 DEMOGRAPHICS
15 LAYTON OVERVIEW
16 WHY UTAH?
18 2021 OUTLOOK
TAKE 5 OIL CHANGE
2 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
TAKE 5
OIL CHANGE CONFIDENTIALITY AND DISCLOSURE
GROUND
LEASE Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property
described as 1584 West 2000 North, Layton, Utah 84041. Broker has been authorized by seller of the
INVESTMENT property to prepare and distribute the enclosed information for the purpose of soliciting offers to
purchase from interested parties. More detailed financial, title and tenant lease information may be
1584 WEST 2000 NORTH
made available upon request following the mutual execution of a letter of intent or contract to purchase
LAYTON, UTAH 84041
between the Seller and the prospective purchaser. You are invited to review this opportunity and make an
offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations
PREPARED BY with you, you will be asked to provide financial references. The eventual purchaser will be chosen based
upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller
deems appropriate.
CHAD MOORE
cmoore@mtnwest.com The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors
direct 801.456.8801
View Profile for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or
made available to any other person without the express written consent of Broker or Seller. The Material
does not purport to be all-inclusive or to contain all of the information that a prospective buyer may
require. The information contained in the material has been obtained from the Seller and other sources
and has not been verified by the Seller or its affiliates, agents, representatives, employees, parents,
subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation
or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any
existing or available financing, and must independently confirm the accuracy of the projections contained
in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no obligation,
express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and
until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the
Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the
foregoing and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional
information.
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 3
EXECUTIVE SUMMARY
PRICING NEW LONG-TERM LEASE
Take 5 Oil Change signedWHYa brand new 15-year NNN lease with 10.00% rent increases every 5-years.
The lease includes threeCUSTOMERS
PURCHASE PRICE $1,208,333
(3) 5-year options to extend.
NET OPERATING INCOME $72,500 LOVE US • Take 5’s exclusively drive thru model
RENT COMMENCEMENT DATE Our mission at Take 5 Oil Change is to set service
allows the customer to relax in the
comfort of their car at all times
CAP RATE 6.00% standards and achieve customer satisfaction
The rent commencement date for Take 5 Oil Change •isOil planned for February
changes are completed
standards that exceed every customer’s expectation in 10 1, 2023.
by maintaining the highest possible level of employee minutes or less
LEASE INFORMATION LOCATION
training and development.
• Customers are offered a
Through decades of experience, we have perfected complimentary beverage, snack, pet
TENANT TRADE NAME Take 5 Oil Change The subject property is the
located adjacent to one of Layton’s main corner intersections; Antelope Avenue
oil change into a finely tuned, highly efficient
process. A team of friendly, knowledgeable
treats, and air freshener
• Well positioned, convenientlocations
Blue Lube and Main Street. technicians perform choreographed tasks, following
institutionalized procedures that enable efficiency in major retail trade areas
LEASE GUARANTOR and speed. Our focus on speed, quality of work,
Properties, LLC and customer care at each specific service point
optimizes customer experience. Our oil changes are
completed in 10 minutes or less!
LEASE TYPE NNN Ground Lease
COMMENCEMENT 2/1/2023
EXPIRATION 1/31/2038
LEASE TERM 15 Years
LEASE TERM REMAINING 15 Years
10% Increases Every
RENTAL INCREASES
5 Years
(3) Five Year
EXTENSION OPTIONS
Renewal Options
TENANT'S FIRST RIGHT
Yes
OF REFUSAL
PROPERTY TAXES Tenant's Responsibility
INSURANCE Tenant's Responsibility
UTILITES Tenant's Responsibility OPTIONS & ESCALATIONS
MAINTENANCE Tenant's Responsibility LEASE TERM START EXPIRATION MONTHLY RENT ANNUAL RENT % INCREASE
INITIAL TERM 2/1/2023 1/31/2028 $6,041.67 $72,500.00
PROPERTY INFORMATION
1584 West 2000 North, INITIAL TERM 2/1/2028 1/31/2033 $6,645.83 $79,750.00 10.00%
PROPERTY ADDRESS
Layton, UT 84041 INITIAL TERM 2/1/2033 1/31/2038 $7,310.42 $87,725.00 10.00%
LAND SIZE (AC) 0.49 OPTION 1 2/1/2038 1/31/2043 $8,041.46 $96,497.50 10.00%
LAND SIZE (SF) 21,344 OPTION 2 2/1/2043 1/31/2048 $8,845.60 $106,147.25 10.00%
YEAR BUILT 2022 OPTION 3 2/1/2048 1/31/2053 $9,730.16 $116,761.98 10.00%
PROPERTY FEATURES & LAND OVERVIEW
PROPERTY FEATURES
LOCATION TRAFFIC COUNTS
1584 West 2000 North Antelope Drive 57,863 ADT
Layton, UT 84041 Main Street 16,999 ADT
LAND AREA YEAR BUILT
0.49 acre or 21,344 square feet 2022
BUILDING AREA ZONING
The subject property consists of a C-Commercial
freestanding building with 3 bays
FRONTAGE & ACCESS
Located on the hard corner to
Antelope Square Shopping Center.
Subject property has full access on
both main thoroughfares.
LAND OVERVIEW
APN # ADDRESS ACRES SF
090220180 1584 W 2000 N 0.49 21,344
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 5
PROTOTYPE SITE PLAN
D
C
B
TAKE 5 AOIL CHANGE
6 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ELEVATIONS
TAKE 5 / 5 MINUTE OIL CHANGE
4
2 2
4
4
AND ASSOCIATES
5 5 5
5 5
RIVERDALE, UT
1498 E 5600 S
OGDEN, UT 84403
1 1 1 1 1 1
FOR: REEVE
3 3 3 3 5 3
5
1 NORTH ELEVATION 3 WEST ELEVATION
A-200 1/4"=1'-0" A-200 1/4"=1'-0"
2
4
2 4 2 4
2 4
2
2
5 5 5 5
1
1
1
1
1 1 1
SEALS
3 3 3 3 3 3
3
REVISIONS
2 SOUTH ELEVATION
A-200 1/4"=1'-0"
4 EAST ELEVATION
A-200 1/4"=1'-0"
DATE
7-27-2020
7
SHEET NAME
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
SHEET NUMBER
SOUTH FACING
Antelop
e Dr - 5
7,863 A
DT
M
ain
St
re
et-
16
,99
9A
DT
TAKE 5 OIL CHANGE
8 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
EAST FACING
An
telo
pe
Dr
- 57
,86
3A
DT
99 ADT
- 16,9
t reet
M ain S
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 9
NORTH FACING
T
AD
99
6,9
-1
et
tre
in S
Ma
Ante
lope
Dr - 5
7,863
ADT
TAKE 5 OIL CHANGE
10 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.comWEST FACING
-16,999 ADT
Main Street
DT
3A
7,86
-5
Dr
pe
elo
Ant
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 11TT MAP
TAKE 5 OIL CHANGE
12 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.comTENANT PROFILE
Take 5 Oil Change is (or should be) your DRIVEN BRANDS Driven Brands, headquartered in Charlotte,
neighborhood go-to oil change spot. NC, is the parent company of North America’s leading automotive
We’ve been doing this for over 35 years aftermarket brands across four distinct verticals: Repair & Maintenance,
now, and grown our drive-thru style (no housing Meineke Car Care Centers and Merlin 200,000 Mile Shops;
fries served though) to half the country. Paint & Collision, housing Maaco, CARSTAR North America and Drive
We keep it friendly by letting you stay N Style; Distribution, housing 1-800-Radiator & A/C; and Quick Lube,
in the comfort of your car or truck while housing Pro Oil Change, Econo Lube N’ Tune, Driven Florida Lubes
we change your oil. We’ve all heard from and Take 5 Oil Change. Driven Brands has more than 2,300 centers
our dads that oil changes are important across North America, and combined, all businesses generate more
and at Take 5, we agree. We also know than $2.1 billion in system sales.
they aren’t the most fun. Here at Take 5 Oil Change we try to make ROARK CAPITAL GROUP In 2015 Roark Capital Group acquired
them the most enjoyable (and the quickest) as they can be. We pride Driven Brands. Roark Capital Group is an Atlanta-based private
ourselves in our friendly technicians, our oil change expertise and our equity firm with approximately $11 billion in equity capital raised
efficient process that gets you on your way safely and swiftly. since inception. Roark focuses on family-owned business transfers,
management/corporate buyouts, recapitalizations, going private
TAKE 5 OIL CHANGE Headquartered in Metairie, Louisiana and transactions, and corporate divestitures. Roark focuses on consumer
founded in 1984, Take 5 Oil Change is a leading fast lube chain in and business service companies, with a specialization in franchised
the southeastern United States, focused exclusively on oil changes and multi-unit business models in the restaurant, retail, consumer
and ancillary services including windshield wiper and air filter services, and business services sectors.
replacements. Since 2004, the company has rapidly increased its
footprint, expanding from 13 to 350+ stores and becoming an industry ESTABLISHED: 1984
leader in Louisiana and the Southeast through living its mission to
“change your oil, not your schedule.” LOCATIONS: 628
EMPLOYEES: 9,000
HEADQUARTERS: New Orleans, Louisiana
WEBSITE: https://www.take5oilchange.com/
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 13DEMOGRAPHICS
POPULATION BUFFERS - 1, 3, 5 MILES
1 MILE 3 MILES 5 MILES
16,327 89,375 195,967
2022 EST. 2022 EST. 2022 EST.
POPULATION POPULATION POPULATION
1 MILE 3 MILES 5 MILES
17,500 96,947 211,807
2027 EST. 2027 EST. 2027 EST.
POPULATION POPULATION POPULATION
HOUSEHOLDS & AVERAGE INCOME
1 MILE 3 MILES 5 MILES
5,833 28,398 59,987
2022 EST. 2022 EST. 2022 EST.
HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS
1 MILE 3 MILES 5 MILES
$73,340 $89,511 $99,245
2022 EST. 2022 EST. 2022 EST.
INCOME INCOME INCOME
TAKE 5 OIL CHANGE
14 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.comPOPULATION TOTAL EMPLOYEES
363,389 102,362 source: EDCUtah
“Northern Utah combines mountains, lakes and DAVIS COUNTY DAVIS COUNTY
reservoirs, pioneer and Native American heritage and
Utah’s biggest cities. There are mountainous parks 264,878
WEBER COUNTY
92,268
WEBER COUNTY
and forests where you can ski, snowboard, hike, bike
or camp.
It’s also the heart of Utah’s urban experiences, boasting MEDIAN HOUSEHOLD INCOME MEDIAN AGE
vibrant main streets and downtown centers with night
life, festivals and performing arts.”
Source: visitutah.com
$88,675
DAVIS COUNTY
31.0
DAVIS COUNTY
$72,473 32.5
4 WEBER COUNTY WEBER COUNTY
STATE PARKS
3 HOUSEHOLDS 2010-2021 ANNUAL POPULATION
GROWTH
SKI RESORTS
112,874
DAVIS COUNTY
1.7%
DAVIS COUNTY
OGDEN -
90,699
WEBER COUNTY
1.3%
WEBER COUNTY
6TH FASTEST GROWING CITY
2016
TOTAL BUSINESSES MEDIAN HOME VALUE
10,879
DAVIS COUNTY
$343,173
DAVIS COUNTY
#9 BEST-PERFORMING
CITIES 7,658
WEBER COUNTY
$278,986
WEBER COUNTY
2021
Source: Utah Governor’s Office of Economic Development Source: Sites USA 2021WHY UTAH?
• Utah Metros in Top 10 Milken List.
Provo-Orem #1, Salt Lake City #4, Ogden-Clearfield #9. (2/21)
• Utah in the 2020 Business Facilities State Rankings. (1/21)
• Utah and Its Citites Lead Nation in Young Population. (6/2021)
• Ogden Named a Top 20 City for Manufacturing. (9/2020)
• St. George a Top Work-from Home Destination (9/2020)
• 10 Categories Where Utah Claims #1 (best private-sector job growth, best state for entrepreneurs,
best performing large system, best state for upward mobility, best state for the middle class, number of dark sky
parks, children per capita, densest concentration of Jurassic-era dinosaur bones, tallest mountain peaks, Most
volunteers) (9/2019)
Source: EDCUtah
#1 BEST STATE FOR #3 BEST STATE
ENTREPRENEURS FOR BUSINESS
2019 2019
#1 BEST #2 BEST STATE TO
ECONOMY START A BUSINESS
10/2020 2019
Source: Utah Governor’s Office of Economic DevelopmentJOB GROWTH POPULATION GROWTH
3.3%
UTAH
16%
UTAH source: EDCUtah
1.5%
NATIONAL
6.3%
NATIONAL
DWS, NOV 2019 US CENSUS, 2010-2019
MEDIAN WAGE MEDIAN AGE
$36,790
UTAH
31
UTAH
$38,640
NATIONAL
38.2
NATIONAL
BLS, MAY 2018 US CENSUS, ACS 2018
COST OF LIVING INDEX % BUDGET SPENT ON EDUCATION
101.3
UTAH
40%
UTAH
100.0
NATIONAL
29%
NATIONAL
C2ER, Q3 2019 US CENSUS, 2015
CORPORATE TAX GDP GROWTH
4.95%
UTAH
3.2%
UTAH
6.87%
NATIONAL
1.9%
NATIONAL
TAX FOUNDATION, 2019 BEA, Q3 2019
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 17
Source: EDCUtah2023 ECONOMIC REPORT TO THE GOVERNOR
2022: Resilient and strong with warning signs
2023: Uncertain environment with three plausible scenarios
“Utah enters 2023 facing significant economic
uncertainty as decision-makers continue to
Three Plausible Scenarios
grapple with ever-changing pockets of economic in 2023
strength and weakness. The post-pandemic Scenario 1: Continuing Growth
economy has altered many traditional economic
relationships. These economic transformations Inflation recedes, interest rate hikes stabilize,
make accurate predictions challenging because historically high financial reserves and low debt
it’s unclear if or when old patterns will return, or if levels prop up consumer spending, employers
new arrangements will chart a different economic work to retain employee in light of recent hiring
course. challenges, and international geopolitical and
supply chain challenges stabilize, combining to
Current economic challenges amid an overheated create 2023 real GDP growth in the 2% to 4%
economy include stubbornly high inflation, range (similar to 2022 Q3 and Q4).
rapidly rising interest rates, low consumer
sentiment, and unmistakable construction and
real estate slowdowns. At the same time, many Scenario 2: Shallow Recession
oftenunderappreciated economic buffers exist. High inflation comes down slowly, continued
Extremely low unemployment coupled with rapid interest rate hikes drive down consumer
improving supply chains and very strong overall and firm demand for large capital acquisitions,
household, firm, and state and local government sizable construction slowdowns and layoffs
financial reserves combine to provide a hedge extend broadly into other sectors, continued
against economic challenges that could spiral international challenges remain disruptive similar
into a recession. Economic performance in 2023 to 2022, resulting in a relatively short (two to three
will depend on economic decisions made in this quarters) and mild -1% to 1% change in 2023 real
complex new environment. GDP.
Given recent trends, three economic scenarios
seem viable for 2023. Wise decision-makers will
prepare to respond to any of the three scenarios Scenario 3: Decelerating Growth
by following the indicators, making midcourse Inflation moderates somewhat, interest rate hikes
corrections, and applying vigilance and caution continue but slow down, household financial
while still pursuing opportunities. buffers only partially offset broader economic
challenges, including layoffs in interest-rate-
sensitive sectors such as construction, resulting in
2023 real GDP growth in the 0% to 2% range.HACHMAN INDEX OF ECONOMIC DIVERSITY
Utah increased from the sixth to the fifth most
economically diverse state in the U.S. between 2020
and 2021. Missouri (97.0) and Georgia (96.6) remain
the most economically diverse states in the nation.
Arizona (96.4) and Illinois (95.9) swapped places in
the rankings while Utah (95.6) rounds out the top 5,
edging out North Carolina (95.5) and Pennsylvania
(95.4), which ranked 7th and 5th last year, respectively
(see Figure 3.1). All seven of these states have index
scores above 95 (see Table 3.1). As the Hachman Index
is a relative measure, it is not definitive that any one of
these states is significantly more diverse than another.
Utah ranks second in the West for economic diversity.
California, Washington, Colorado, Arizona, and
Oregon all have larger economies than Utah, but only
Arizona has a higher Hachman Index score. States with
similar-sized economies include Alabama, Kentucky,
Oklahoma, and Iowa. Of these, only Alabama has
an index score above 90, indicating a very diverse
economy. Alabama scores 91.1, Kentucky 88.6, Iowa
70.7, and Oklahoma 58.4. Despite Utah’s midsized
economy (29th largest), its industrial composition is
more diverse than that of the largest state economies.
UTAH VALUE OF NEW CONSTRUCTION, UTAH NATIONAL PARK AND SKIER
$ MILLIONS VISITS, MILLIONS
Source: 2022 Economic Report to the Governor by the Utah Economic Council Source: 2023 Economic Report to the Governor by the Utah Economic Council
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 19Source: 2023 Economic Report to the Governor by the Utah Economic Council
*Not actual photo of property
TAKE 5
OIL CHANGE
GROUND
LEASE
INVESTMENT
1584 WEST 2000 NORTH
LAYTON, UTAH 84041
PREPARED BY
CHAD MOORE
cmoore@mtnwest.com
direct 801.456.8801
View Profile
312 East South Temple, Salt Lake City, UT 84111
Office 801.456.8800 | www.mtnwest.comYou can also read
