Pickerington, OH - Valvoline

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Valvoline investment property located in Pickerington, Ohio. The tenant, Valvoline, recently signed a brand new 15-year lease extension with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Valvoline is located near the signalized, hard corner intersection of State Highway 256 and Refugee Rd which combine to average over 47,900 vehicles passing by daily. State Highway 256 is the major retail thoroughfare serving the city of Pickerington. The Valvoline is an outparcel to a Giant Eagle Grocery anchored center that also features national/credit tenants including Popeyes, Mr. Tire, and Duchess pads. In addition, the asset is also across from Windmiller Square, A Kroger anchored center with other national/credit tenants including Wendy’s, Hollywood Feed, Cato, and Fifth Third Bank. The asset is in close proximity to Hill Road Plaza, a Planet Fitness anchored center with national/credit tenants including Walgreens, UPS, Jersey Mike’s, Papa John’s, Palm Beach Tan, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Kohl’s, Lifetime Fitness, ALDI, Raising Cane’s, McDonald’s, CVS, Chipotle, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 171,600 residents and 44,800 employees with an average household income of $103,250.