New Take 5 | 305+ Unit Guarantor | 15+ Years | 232 Grant Ave
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New Take 5 | 305+ Unit Guarantor | 15+ Years 232 Grant Ave
1,324 SF Retail Building Auburn, NY 13021 $2,954,281 CAD ($2,231 CAD/SF) 7% Cap Rate
Investment Highlights
- Brand-new, build-to-suit construction asset
- Superior guarantor and operator | Lease is backed by Purple Square Management, LLC which has 305+ stores opening and operating throughout 15 states
- Directly across the street from Auburn Plaza | Anchored by ALDI, Habor Freight and Marshalls
- New, 15-year & 4-month, absolute NNN lease | Zero Landlord responsibilities
- Excellent access and visibility from Grant Avenue which sees ±29,580 VPD
- Strong, 10% rental increases every 5 years throughout the initial term and options | 7.74% Avg CAP assuming purchase at List Price
Executive Summary
• Brand-new, build-to-suit construction asset
• New, 15-year & 4-month, absolute NNN lease | Zero Landlord responsibilities
• Superior guarantor and operator | Lease is backed by Purple Square Management, LLC which has 305+ stores opening and operating throughout 15 states | Their brands include Dunkin’/Baskin Robbins (105), Rent-A-Center (64), Popeyes (45), Take 5 Oil Change (50), RimTyme (28), AFC Urgent Care (11), The Brass Tap (2), and Smalls Sliders
• Excellent access and visibility from Grant Avenue which sees ±29,580 VPD
• Directly across the street from Auburn Plaza | Anchored by ALDI, Habor Freight and Marshalls
• Strong, 10% rental increases every 5 years throughout the initial term and options, providing an excellent hedge against inflation | Yields a 7.74% average CAP over the base lease term, assuming purchase at List Price
• Site is walking distance to:
• A Walmart Supercenter & Lowe’s anchored shopping center
• A BJ’s-anchored shopping center
• Grant Avenue Plaza | A Big Lots and Tractor Supply-anchored shopping center
• Cayuga Community College & Auburn Junior High School | 3,500 combined students
• Heavily auto-related corridor with 7 different car dealerships
• About 1.5 miles from:
• Downtown Auburn
• Auburn Community Hospital | 99-bed acute care facility
• Take 5 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations across 41 states with an additional 950 sites in the pipeline
• E-commerce and recession proof tenant
• New, 15-year & 4-month, absolute NNN lease | Zero Landlord responsibilities
• Superior guarantor and operator | Lease is backed by Purple Square Management, LLC which has 305+ stores opening and operating throughout 15 states | Their brands include Dunkin’/Baskin Robbins (105), Rent-A-Center (64), Popeyes (45), Take 5 Oil Change (50), RimTyme (28), AFC Urgent Care (11), The Brass Tap (2), and Smalls Sliders
• Excellent access and visibility from Grant Avenue which sees ±29,580 VPD
• Directly across the street from Auburn Plaza | Anchored by ALDI, Habor Freight and Marshalls
• Strong, 10% rental increases every 5 years throughout the initial term and options, providing an excellent hedge against inflation | Yields a 7.74% average CAP over the base lease term, assuming purchase at List Price
• Site is walking distance to:
• A Walmart Supercenter & Lowe’s anchored shopping center
• A BJ’s-anchored shopping center
• Grant Avenue Plaza | A Big Lots and Tractor Supply-anchored shopping center
• Cayuga Community College & Auburn Junior High School | 3,500 combined students
• Heavily auto-related corridor with 7 different car dealerships
• About 1.5 miles from:
• Downtown Auburn
• Auburn Community Hospital | 99-bed acute care facility
• Take 5 Oil Change is the fastest growing oil change concept in the U.S. with more than 1,000 locations across 41 states with an additional 950 sites in the pipeline
• E-commerce and recession proof tenant
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
1,324 SF
Year Built
2025
Construction Status
Under Construction
Price
$2,954,281 CAD
Price Per SF
$2,231 CAD
Cap Rate
7%
NOI
$206,843 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.56 AC
Parking
6 Spaces (4.53 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Contacts
-
Robert Vasiliavitchious -
Calvin Short -
Matt Coates -
Aron Cline -
Berkeley Capital Advisors
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New Take 5 | 305+ Unit Guarantor | 15+ Years | 232 Grant Ave
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