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Auto Service - Gas-Conv

Valvoline Instant Oil Change

2500 N High School Rd, Speedway, IN 46224

Listing Price: $1,751,000

Cap Rate
4.85%
Tenant Name
Valvoline Instant Oil Change
Years Remaining On Lease
15.1
Gross SF
2,100
Guarantor
Corporate Guarantee
Rentable SF
2,100
Price/Gross SF
$833.81
Lease Type
Ground Lease
Rent Per Square Feet
$40.48

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Valvoline Instant Oil Change in Speedway, IN. The 2,100 square foot built-to-suit Valvoline prototype is scheduled to commence rent in August 2022 with an original base term of 15 years. The lease is classified as a ground lease providing for zero landlord responsibilities. There are 10% rent increases every five years including in the base term and in each of the three, five-year renewal options available providing an excellent hedge against inflation. The lease is corporately guaranteed by Valvoline, Inc. (NYSE: VVV; $2.98 Billion in Annual Revenue). Valvoline is perfectly positioned as part of the Founders Square development at the “Gateway” to Speedway which includes a hotel and conference room, senior housing, ALDI, Crew Car Wash, Freddy’s, and other retail developments. The property sits at the convergence of major transits including I-465 (138,000VPD), I-74 (36,000 VPD), and I-136 (26,340 VPD). The signalized intersection is the first corner off of the busy interstate exit. Other retail traffic drivers in the immediate vicinity include Chipotle, Starbucks, Burger King, Taco Bell, Verizon, PNC Bank, Chase, TJ Maxx, Ross, and Kroger among many others. Valvoline is an American manufacturer and distributor of automotive oil, additives and lubricants. It is the 2nd largest oil change provider in the United States with a 10% market share. The company was originally founded in 1866 in Binghamton, New York and is now headquartered in Lexington, Kentucky. There are now more than 1,250 locations nationwide.

Investment Highlights

  • Corporately Guaranteed (NYSE: "VVV") Valvoline Ground Lease
  • Located within Founder's Square – A 25-Acre Commercial Gateway District
  • Lease Commences 3rd Quarter 2022 | Full Term Remaining
  • New 15-Year Lease Commencing August 2022 | Full Lease Term Remaining
  • 10% Rent Increases Every 5 Years in the Base Term & Options | Excellent Hedge Against Inflation
  • Ideal Exposure along I-465 (138,000+VPD) & US-136 (26,430 VPD) | Part of New Master Redevelopment Including ALDI, Freddy's, Crew Carwash, and Hampton Inn
  • 2 Miles from the Indianapolis Motor Speedway and 7 Miles from Downtown Indianapolis | Nearby Retail Drivers include Starbucks, Chipotle, PNC Bank, Kroger, & TJ Maxx Among Many Others
  • Over 217,848 Residents within 5 Miles with Future Population Growth Projected

Exclusively Listed By

Auto Service - Gas-Conv

Valvoline Instant Oil Change

Listing Price: $1,751,000

Cap Rate
4.85%
Tenant Name
Valvoline Instant Oil Change
Years Remaining On Lease
15.1
Gross SF
2,100
Guarantor
Corporate Guarantee
Rentable SF
2,100
Price/Gross SF
$833.81
Lease Type
Ground Lease
Rent Per Square Feet
$40.48

Investment Highlights

  • Corporately Guaranteed (NYSE: "VVV") Valvoline Ground Lease
  • Located within Founder's Square – A 25-Acre Commercial Gateway District
  • Lease Commences 3rd Quarter 2022 | Full Term Remaining
  • New 15-Year Lease Commencing August 2022 | Full Lease Term Remaining
  • 10% Rent Increases Every 5 Years in the Base Term & Options | Excellent Hedge Against Inflation
  • Ideal Exposure along I-465 (138,000+VPD) & US-136 (26,430 VPD) | Part of New Master Redevelopment Including ALDI, Freddy's, Crew Carwash, and Hampton Inn
  • 2 Miles from the Indianapolis Motor Speedway and 7 Miles from Downtown Indianapolis | Nearby Retail Drivers include Starbucks, Chipotle, PNC Bank, Kroger, & TJ Maxx Among Many Others
  • Over 217,848 Residents within 5 Miles with Future Population Growth Projected

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Valvoline Instant Oil Change in Speedway, IN. The 2,100 square foot built-to-suit Valvoline prototype is scheduled to commence rent in August 2022 with an original base term of 15 years. The lease is classified as a ground lease providing for zero landlord responsibilities. There are 10% rent increases every five years including in the base term and in each of the three, five-year renewal options available providing an excellent hedge against inflation. The lease is corporately guaranteed by Valvoline, Inc. (NYSE: VVV; $2.98 Billion in Annual Revenue). Valvoline is perfectly positioned as part of the Founders Square development at the “Gateway” to Speedway which includes a hotel and conference room, senior housing, ALDI, Crew Car Wash, Freddy’s, and other retail developments. The property sits at the convergence of major transits including I-465 (138,000VPD), I-74 (36,000 VPD), and I-136 (26,340 VPD). The signalized intersection is the first corner off of the busy interstate exit. Other retail traffic drivers in the immediate vicinity include Chipotle, Starbucks, Burger King, Taco Bell, Verizon, PNC Bank, Chase, TJ Maxx, Ross, and Kroger among many others. Valvoline is an American manufacturer and distributor of automotive oil, additives and lubricants. It is the 2nd largest oil change provider in the United States with a 10% market share. The company was originally founded in 1866 in Binghamton, New York and is now headquartered in Lexington, Kentucky. There are now more than 1,250 locations nationwide.

Exclusively Listed By

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