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Views: 61 DOM: 21 Updated: 11.30.23 Posted: 09.19.23 Status: Sold 10.11.23

Summary

Price $1,735,000
Built/Renov 2000
Tenant Valvoline
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,491
Lease Start 05-01-2021
#Units 1,715
Price/SF $496.99
Expiration 04-30-2036
Tenant Type Automotive
NOI $95,344
R. Term 11.5
Ownership Fee Simple
Rent/SF $27.31
Increases 10.0%/5/yrs
Pop 5Mi 201,182
Lot/AC 0.70
Options 3/5yrs/10%
AHHI 5Mi $148,115

Lease Highlights

  • Valvoline currently has over 12 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Valvoline Inc. (NYSE: VVV)

Location Description

This Valvoline is strategically located on Justin Road, a dominant retail corridor that sees 28,500+ vehicles passing by daily. The property benefits from shared access between RaceTrac, Christian Brothers Automotive, Discount Tire, National Tire and Battery, and O’Reilly Auto, creating excellent synergy among tenants. The site is positioned in a dense, high-growth area with strong...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Valvoline
  • Guarantor:Corp T and Rated
  • Company:Valvoline Inc.
  • # Units:1,715
  • Tenant S&P: BB
  • Moody’s: Ba2
  • Stock:NYSE: VVV

About Tenant

Valvoline Inc. is a leading worldwide marketer and supplier of premium branded lubricants and automotive services, with sales in more than 140 countries. Valvoline was established in 1866 in...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,673 81,249 195,045
2023 Total Population : 10,770 80,462 192,601
2023 Employed Civilian Pop : 6,169 45,203 105,015
2023 Total Businesses : 467 3,231 6,530
2023 Average Household Income : $ 173,003 $ 150,211 $ 152,720
2023 Total Consumer Spending : $ 505 M $ 3718 M $ 8620 M
2023 Median Age : 40 40 38
2023 Total Households : 3,499 29,261 66,622
2023 Pop Age 25+: Bachelor's Degree : 2,661 20,790 46,084
2023 Average Home Value : $ 399,178 $ 427,377 $ 426,225
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Justin Rd Stone Hill Farms Pkwy 2011 29,256 0.22 mi
Highland Village Rd Nowlin Dr 2004 10,460 0.34 mi
Valley Ridge Blvd Fox Glen Ln 2011 11,357 0.34 mi
Village Estates Dr Villa PkDr 2009 570 0.37 mi
Morriss Rd Justin Rd 2011 14,986 0.40 mi
Sellmeyer Ln Meadowcrest Dr 2004 4,590 0.52 mi
Dixon Ln Morriss Rd 2004 6,640 0.55 mi
Desiree Ln Medina Dr 2009 450 0.56 mi
Morriss Rd Dixon Ln 2011 18,308 0.57 mi
Aspen Dr Justin Rd 2009 1,190 0.62 mi

Listing Broker

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