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Views: 67 DOM: 92 Updated: 11.11.24 Posted: 08.14.24 Status: Active

Summary

Price $1,600,000
Built/Renov 1989/2023
Tenant Valvoline
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,478
Lease Start 07-01-2023
#Units 110
Price/SF $645.68
Expiration 06-30-2038
Tenant Type Automotive
NOI $96,000
R. Term 13.7
Ownership Fee Simple
Rent/SF $38.74
Increases 10.0%/4/yrs
Pop 5Mi 123,036
Lot/AC 0.52
Options 0/5yrs/10%
AHHI 5Mi $89,608

Lease Highlights

  • Valvoline has 13+ years remaining on the current lease term with 4 (%-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by QAS Holdings, LLC (110 units backed)

Location Description

Valvoline is strategically located on Cherry Road, with access to a substantial daily traffic count of 74,500 vehicles. The property is conveniently situated off Interstate 77, the main route to Charlotte, and is near the Riverwalk mixed-use development and an Xpress stop. Additionally, the immediate area boasts well-known tenants, including The Home Depot, Circle K, 7-Eleven, Lidl, Sonny's...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Valvoline
  • Guarantor:Franchisee
  • Company:QAS Holdings, LLC
  • # Units:110
  • 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
2029 Total Population : 8,110 49,164 130,349
2024 Total Population : 7,409 44,454 120,560
2024 Employed Civilian Pop : 4,034 22,928 59,893
2024 Total Businesses : 299 1,461 4,375
2024 Average Household Income : $ 83,303 $ 108,986 $ 109,865
2024 Total Consumer Spending : $ 260 M $ 1766 M $ 4563 M
2024 Median Age : 34 37 38
2024 Total Households : 3,474 18,373 47,300
2024 Pop Age 25+: Bachelor's Degree : 1,017 7,469 21,523
2024 Average Home Value : $ 313,535 $ 393,581 $ 413,500
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Cherry Road Hwy 21 Byp 2022 24,400 0.03 mi
I- 77 Celanese Rd 2017 85,800 0.22 mi
Riverview Road Riverchase Blvd 2022 4,600 0.32 mi
Cherry Rd Riverview Rd 2017 36,100 0.35 mi
Riverchase Boulevard Celanese Rd 2021 45,400 0.38 mi
Riverchase Blvd 2022 47,400 0.38 mi
North Cherry Road Cherry Rd 2021 39,500 0.41 mi
North Cherry Road Cherry Rd 2022 41,200 0.41 mi
Celanese Rd Riverview Rd 2019 55,000 0.45 mi
Hwy 21 Byp Grier McGuire Dr 2012 20,600 0.58 mi

Listing Broker

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