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Express Oil Change

1003 University Blvd, Suffolk, VA 23435

Listing Price: $4,777,778

Cap Rate
4.50%
Tenant Name
Express Oil Change & Tire Engineers
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
4,623
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.51

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Express Oil Change located at 1003 University Boulevard, in Suffolk, VA. The site consists of roughly 4,623 rentable square feet of building space on estimated 0.93-acre parcel of land. This Express Oil Change is subject to a 20-year Absolute Triple-Net (NNN) sale-leaseback, which will commence upon the close of escrow. The annual rent is$215,000 and is scheduled to increase by five percent (5%) every five (5) years. There are six (6), five (5)-year tenant renewal options.

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Auto Parts

Express Oil Change

Listing Price: $4,777,778

Cap Rate
4.50%
Tenant Name
Express Oil Change & Tire Engineers
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
4,623
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.51

Investment Highlights

  • Long Term 20-Year Sale-Leaseback
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Five Percent (5%) Every Five (5) Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Express Oil Change located at 1003 University Boulevard, in Suffolk, VA. The site consists of roughly 4,623 rentable square feet of building space on estimated 0.93-acre parcel of land. This Express Oil Change is subject to a 20-year Absolute Triple-Net (NNN) sale-leaseback, which will commence upon the close of escrow. The annual rent is$215,000 and is scheduled to increase by five percent (5%) every five (5) years. There are six (6), five (5)-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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