Valvoline Ground Lease,
Dothan, AL Investment Summary
| Price | $1,223,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 10 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | ±1,903 SF |
| Lot Size | 0.29 Acre (12,632 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
10-YEAR ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» Long-Term lease to Valvoline (NYSE: “VVV” – $2.98B in revenue – 1,400+ locations)
» Absolute NNN ground lease requires no landlord management, ideal for passive investors
» Scheduled rental increases, providing a hedge against inflation
» Six (6) extension periods of five (5) years each
HIGH-TRAFFIC LOCATION IN DENSE, AFFLUENT, AND GROWING RETAIL CORRIDOR
» Located on Ross Clark Circle, Dothan’s beltway, with visibility and access to 32,695 vehicles per day directly in front of the property
» Beneficial proximity to U.S. Route 231/Montgomery Highway (37,667 AADT), increasing traffic to the location
» Population of 65,426 within five miles of the site
» Average annual household income of $90,389 within a one-mile radius
» Projected average annual household income increase of 10 percent within one mile of the site in the next five years
» Outparcel to a Publix/Home Depot-Anchored shopping center, attracting significant crossover shopping to the location
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Sam’s Club, Lowe’s, Chipotle, McDonald’s, Chick-fil-A, Panera Bread, and many more
» Approximately 2.5 miles from Downtown Dothan
2022 CONSTRUCTION
» 2022 construction featuring three (3) service bays
» Features latest store designs and concepts
» All masonry construction
Property Description
SOLD
This Valvoline is conveniently located on Ross Clark Circle, Dothan’s beltway, with visibility and access to 32,695 vehicles per day directly in front of the property. Ross Clark Circle maintains a beneficial proximity to U.S. Route 231/Montgomery Highway, attracting significant additional traffic to the location. The property is located in a populous area, with 65,426 residents living within five miles of the site. The property is located in an affluent area as well, with an average annual household income of $90,389 within a one-mile radius.
The property is outparcel to a Publix/Home Depot-Anchored shopping center, attracting significant crossover shopping to the location. Other major retailers in the nearby area include Walmart Supercenter, Target, Academy Sports + Outdoors, Lowe’s, Chipotle, McDonald’s, Starbucks, and many more. The property is centrally located approximately two-and-a-half miles from Downtown Dothan, with a projected average annual household income increase of 10 percent within one mile of the site in the next five years.
