Tenant Profiles

Take 5 Car Wash

B+E > B+E INSIGHTS > Tenant Profiles > Take 5 Car Wash

02/28/2024 By B+E

Take 5 Car Wash

https://www.take5.com/car-wash/ | Driven Brands, Inc.

39
Number on Market

$4.1M
Average Price

18.2
Average Remaining Term (Years)

6.38%
Average Cap Rate

Take 5 Car Wash Tenant Overview

Founded in 1984, Take 5 Car Wash is a car wash chain headquartered in Charlotte, North Carolina. The company operates more than 400 locations nationwide. Take 5 Car Wash is owned by Driven Brands, a leading automotive franchise company.

The company is known for its quick and efficient car wash services, which has helped it build a loyal customer base. Take 5 investments are split between sole car wash locations and car wash/oil change hybrid locations. Take 5’s parent company, Driven Brands, generated $2.12 billion of revenue in 2023, an increase from 2022’s revenue of $2.03 billion. The company has a credit rating of BBB- from Standard & Poor’s and has reported consistent growth in both revenue and net income in recent years.

In October 2023, Take 5 Car Wash announced 17 new locations in Colorado and 2 new constructions in San Angelo, TX. The company also opened 53 renovated/rebranded sites across Texas, Oklahoma, Indiana, and Michigan.

Tenant Data:

COMPANY	Take 5 Car Wash
Guarantor	Driven Brands, Inc.
Ownership	Public
Headquarters	Charlotte, NC
Ticker	NASDAQ: DRVN
Credit Rating	S&P: BBB-
Annual Revenue	$2.12B (2023)
Locations (North America)	± 400
Regions	South, Midwest, West
Website	https://www.take5.com/car-wash/

Average Take 5 Car Wash Info
Number on Market	39
Average Price	$4,099,496
Average Remaining Term	18.2 Years
Average Cap Rate	6.39%
Average NOI	$262,479
Average PPSF	$951
Average Building SF	4,584 SF
Average Lot Size	1.26 AC
AS OF 02/01/2024