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Valvoline Instant Oil Change 23970 NE Wa-3

1,732 SF Retail Building Belfair, WA 98528 $1,514,455 ($874/SF) 6.15% Cap Rate

Retail Space Washington Belfair 23970 NE Wa-3, Belfair, WA 98528

Investment Highlights

  • Absolute Net Lease | Lease features an absolute NNN lease structure with zero landlord responsibilities.
  • Corporately Guaranteed | Valvoline Inc. (NYSE: VVV); Valvoline is a publicly traded company with a market cap of $5.73 Billion.
  • Rent Increases | Lease includes strong rent increases of 1.5% annually to hedge against inflation.
  • Long-Term Leases and Commitment to Site | Valvoline recently extended the lease for an additional 10 years, showing commitment to the site.
  • Situated in High Growth, Affluent Markets | Double-digit population growth in the past ten years, with an average household income of $122,532.
  • Income Tax-Free State | Washington has no state income tax.

Executive Summary

Trinity Real Estate Investment Services is pleased to present the opportunity to acquire a Valvoline Instant Oil Change in Belfair, WA. The subject property is located near Seattle MSA and is corporately guaranteed by Valvoline Inc.
Cooperating Broker: Brian Brockman
Bang Realty, Inc | WA #27380
bor@bangrealty.com | (513) 898-1551

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,732 SF
Building Class
C
Year Built
1995
Price
$1,514,455
Price Per SF
$874
Cap Rate
6.15%
NOI
$93,139
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.43 AC
Zoning
GC
Parking
8 Spaces (4.62 Spaces per 1,000 SF Leased)
Frontage
112 FT on Wa-3 Hwy

Amenities

  • Freeway Visibility
  • Pylon Sign
  • Signage

Links

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Nearby Major Retailers

Starbucks
Safeway
KeyBank
Chase Bank
Quality Food Centers

PROPERTY TAXES

Parcel Number 12329-41-90240 Improvements Assessment $580,725
Land Assessment $176,730 Total Assessment $757,455

PROPERTY TAXES

Parcel Number
12329-41-90240
Land Assessment
$176,730
Improvements Assessment
$580,725
Total Assessment
$757,455
(651) 788-1133

Contact

  • Listing ID: 32704929

  • Date on Market: 8/6/2024

  • Last Updated:

  • Address: 23970 NE Wa-3, Belfair, WA 98528

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Valvoline Instant Oil Change | 23970 NE Wa-3
(651) 788-1133 x

Valvoline Instant Oil Change | 23970 NE Wa-3

Gunnar Edlund

(651) 788-1133

(651) 788-1133

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