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Views: 87 DOM: 130 Updated: 11.11.24 Posted: 08.14.24 Status: Active

Summary

Price $2,095,238
Built/Renov 2024
Tenant Valvoline (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,200
Lease Start 09-01-2024
#Units 1,850
Price/SF $952.38
Expiration 08-31-2039
Tenant Type Automotive
NOI $110,000
R. Term 14.8
Ownership Ground Lease
Rent/SF $50.00
Increases 10.0%/5/yrs
Pop 5Mi 176,131
Lot/AC 0.67
Options 3/5yrs/10%
AHHI 5Mi $132,764

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 3 (5-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
  • Corporate guarantee lease

Location Description

Valvoline is strategically located on University Drive, a major retail thoroughfare with access to 33,503 vehicles passing by daily. The property is surrounded by well-known national tenants, including IKEA, HEB, Chick-fil-A, In-N-Out Burger, Raising Cane's, McDonald's, and more. Additionally, it is situated across the street from the Baylor Scott & White Medical Center. The 5-mile trade area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 17,806 76,665 203,749
2024 Total Population : 15,789 65,059 180,313
2024 Employed Civilian Pop : 8,941 35,761 96,796
2024 Total Businesses : 526 1,811 5,231
2024 Average Household Income : $ 136,226 $ 126,671 $ 138,831
2024 Total Consumer Spending : $ 730 M $ 2652 M $ 7750 M
2024 Median Age : 33 35 36
2024 Total Households : 6,052 23,789 64,035
2024 Pop Age 25+: Bachelor's Degree : 3,333 11,776 35,282
2024 Average Home Value : $ 500,236 $ 519,688 $ 516,793
*ESRI data is presented for informational purposes only

Listing Broker

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