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Views: 144 DOM: 438 Updated: 11.07.24 Posted: 10.10.23 Status: Active

Summary

Price $1,590,000
Built/Renov 2023
Tenant Valvoline (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,087
Lease Start 08-15-2023
#Units 1,850
Price/SF $761.86
Expiration 08-15-2038
Tenant Type Automotive
NOI $79,500
R. Term 13.8
Ownership Ground Lease
Rent/SF $38.09
Increases 10.0%/5/yrs
Pop 5Mi 84,769
Lot/AC 0.44
Options 4/5yrs/10%
AHHI 5Mi $98,178

Lease Highlights

  • Brand new construction
  • Valvoline recently signed a new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Valvoline benefits from excellent visibility on Route 20/23, Fremont Pike, which has a daily traffic count of 36,025 vehicles. It is also conveniently located just a few hundred feet from the interchange with I-75, which sees a daily traffic count of 72,833 vehicles. The subject property is situated in a highly dense primary retail corridor that is home to numerous major national tenants,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Valvoline
  • Guarantor:Corp T and Rated
  • Company:Valvoline Inc.
  • # Units:1,850
  • 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 : 8,074 31,280 86,848
2023 Total Population : 8,010 31,208 87,019
2023 Employed Civilian Pop : 3,924 16,874 46,215
2023 Total Businesses : 279 1,518 3,423
2023 Average Household Income : $ 96,105 $ 108,347 $ 97,464
2023 Total Consumer Spending : $ 287 M $ 1260 M $ 3188 M
2023 Median Age : 44 44 42
2023 Total Households : 3,474 13,625 37,998
2023 Pop Age 25+: Bachelor's Degree : 1,888 6,928 17,014
2023 Average Home Value : $ 253,787 $ 257,223 $ 229,065
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
608 Fremont Pike 2003 27,800 0.02 mi
Fremont Pike Helen Dr 2021 36,025 0.07 mi
Fremont Pike Helen Dr 2018 33,917 0.10 mi
2019 8,409 0.20 mi
RAMP FROM US20 TO IR75 NB 2021 4,784 0.21 mi
RAMP FROM US20 TO IR75 NB I- 75 2020 4,616 0.21 mi
2018 5,953 0.22 mi
US 23;US 20 Truck I- 75 2021 8,791 0.25 mi
2019 7,361 0.26 mi
RAMP FROM IR75 SB TO US20 Green Meadows Dr 2021 6,170 0.26 mi

Listing Broker

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