Investment Overview

Marcus & Millichap presents for sale the Valvoline Instant Oil Change in Heber City, UT. This brand-new building to be completed in 2023 has 3,158 square feet of rentable area on 0.61 acres. The price of the property is a 5.25% cap rate, subject to actual rents. Current rents and price are based on a preliminary budget. The building is located on an outparcel in Walmart along Heber City’s main retail corridor. This property will have a Triple Net (NNN) Lease with the tenant responsible for maintenance, taxes, utilities, and insurance. Once construction is complete, the lease will begin for an initial period of 15 years, after which three, five-year options will be available to the tenant. The tenant, Quality Automotive Services, Inc., has provided a guaranty. Quality Automotive Services, Inc., is a privately-owned Franchisee of Valvoline Instant Oil Change (VIOC) currently operating 113 locations in North Carolina, South Carolina, Kentucky, Indiana, Ohio, West Virginia, Georgia, Colorado, Wyoming, Montana and Utah. Heber City is one of the fast-growing micropolitan areas in the country with proximity to world-class skiing and fishing, Sundance, and many other recreational activities.