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Valvoline Ground Lease, Waynesboro, VA

Valvoline Ground Lease

Price $1,500,000
Cap Rate 5.00%
NOI $75,000
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2018
Building Size 1,700 ± SF
Lot Size .573 acres (24,960 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE TO ICONIC CORPORATE TENANT
» 15-year NNN ground lease with 10% rental increases every five years, providing a hedge against inflation
» Corporate lease to Valvoline (NYSE: “VVV”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an out-of-area investor

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 18,000 vehicles per day on nearby Rosser Avenue/Route 340
» Close to Interstate 64, which experiences a high traffic count of 41,000 vehicles per day near the property
» Within one mile of several national retail brands, including Walmart Supercenter, The Home Depot, McDonald’s, Cracker Barrel, Panera Bread, Taco Bell, Lowe’s Home Improvement, Starbucks, and KFC
» Less than one mile from six hotels

CENTRAL LOCATION NEAR NATIONAL ATTRACTIONS
» Located between Shenandoah National Park, George Washington and Jefferson National Forest, and Monongahela National Forest, attracting a combined 7.46 million annual visitors
» Tourism to Shenandoah National Park generates $126 million in annual benefits to the local economy
» Minutes from Waynesboro Golf & Country Club, featuring an 18-hole, par 72 course, event center, and pool
» Centrally located between Waynesboro Nurseries, Augusta Expo, and Ridgeview Park



Property Description

The property is strategically located on Shenandoah Village Drive, which is directly off of Rosser Avenue/Route 340 with excellent visibility and access to 18,000 vehicles per day. Shenandoah Village Drive provides immediate access to Interstate 64, which experiences a high traffic count of 41,000 vehicles per day near the location. The site is centralized in a dense retail cluster and is outparcel to Waynesboro Town Center, a 400,000 SF retail space featuring anchor tenants Target, Kohl’s, Ross, and Michaels. Major tenants within one mile of the property include Walmart Supercenter, The Home Depot, McDonald’s, Cracker Barrel, Panera Bread, Taco Bell, Lowe’s Home Improvement, Starbucks, KFC, and more. The property is also less than one mile from six different hotels, including Days Inn by Wyndham, Residence Inn by Marriott Waynesboro, Best Western Plus Waynesboro Inn & Suites Conference Center, and Holiday Inn Express & Suites Waynesboro.

The location benefits from its proximity to national attractions like Shenandoah National Park, George Washington and Jefferson National Forest, and Monongahela National Forest, attracting a
combined 7.46 million annual visitors. Tourism to Shenandoah National Park creates $126 million in annual benefits to the local economy and supports 1,204 jobs in the local area. Additionally, the property is located minutes from Waynesboro Golf & Country Club (featuring an 18-hole, par 72 course, event center, and pool), Waynesboro Nurseries, Augusta Expo, and Ridgeview Park.

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