• Long-Term Lease Stability + Built-In Rental Growth: Driven Brands has approximately 8 years remaining on the initial lease term, with the next scheduled rent increase of 10% occurring in 2029.
• Healthy Rent Figure: The Tenant is currently paying ~$24 PSF for a 9-bay facility, reflecting exceptionally healthy rent metrics for the location.
• Absolute NNN Lease: The lease is structured as an absolute net lease, providing truly passive ownership with zero landlord responsibilities, including roof, structure, and all operating expenses.
• Creditworthy Corporate Tenant: Lease backed by Driven Systems LLC (NASDAQ: DRVN), providing strong credit and financial stability.
• Essential Service Tenant: Auto-care & Quick oil change facilities provide essential vehicle maintenance that consumers prioritize in any economy, supporting consistent demand and stable long-term cash flow for investors.
• Premier Retail Corridor: Positioned at the signalized intersection of Capital Circle NE and Thomasville Road, the property is located within one of Tallahassee’s premier retail corridors.
• Affluent Submarket: The property is located within one of Tallahassee’s most affluent and established submarkets, with average household incomes exceeding $144,000 within a one-mile radius.
• Strong Surrounding Demographics: The asset benefits from exceptional surrounding demographics, with more than 109,000 residents within a five-mile radius, providing a deep, stable, and consistent consumer base.
• Large Parcel with Future Flexibility: Situated on approximately ±0.70 acres, the property features ample on-site parking and offers potential future redevelopment, expansion, or repositioning opportunities.