Net Lease Industry

Lowest
Cap Rate

5.35%

Lowest cap rate over past 24 months

Average
Cap Rate

6.60%

12 mo avg with 5+ yr lease term


Overview

Take 5 Oil Change locations are typically sold as absolute NNN leases, offering investors passive income with no landlord obligations. These properties are small-format, freestanding buildings optimized for quick-turn drive-thru oil changes.

Many leases are corporate-guaranteed by Take 5’s parent company — Driven Brands Holdings Inc. (NASDAQ: DRVN) — which also owns Meineke, Maaco, and Carstar.

Average Property & Lease
Average Sale Price $1,300,000 - $2,600,000
Average NOI $95,000 - $170,000
Building SF 2000
Lease Term 20 Years
Escalations 1.5 % every year
Stock Symbol NASDAQ:DRVN
CREDIT RATING
S&P

N/A

Moody's

N/A

TENANT DESCRIPTION

Take 5 pioneered the “stay-in-your-car” model for oil changes, offering ultra-fast service in under 10 minutes. Since being acquired by Driven Brands in 2016, it has grown rapidly across the U.S. and Canada through both franchise and corporate development.

Driven Brands is aggressively scaling Take 5 locations across suburban and commuter markets, often rebranding existing auto service centers under the Take 5 model.

PROS
  • Corporate Guarantee: Backed by Driven Brands (publicly traded)

  • Absolute NNN Lease Structure: No landlord responsibility

  • High-Volume Model: Drive-thru format allows for high customer throughput

  • Essential Services: Recession-resistant and repeat-customer business

  • Aggressive Expansion: Strong growth across the Sunbelt and suburban markets

CONS
  • Small Format Buildings: Lower rent per site may impact overall returns

  • Specialty Use: Narrow reuse potential if tenant vacates

  • Lease Credit Mix: While many leases are corporate, some are franchisee-backed (check lease terms)

COMPANY QUICK STATS
Founded 1984
Headquarters Charlotte, North Carolina
Number of Locations 900
Revenue $2.3 B
Company Website https://www.take5oilchange.com
Key Principal Mo Khalid