1609 Ooltewah Ringgold Rd Ooltewah, TN 37363
New 15-year Valvoline lease with options and rent escalations.
Property size:
2,000 SFLot size:
1.46 AcresProperty Features for 1609 Ooltewah Ringgold Rd
General Information
- Size
- 2,000 SF
- Lot size
- 1.46 Acres
Source:
Moodyscre
Listing Agent: Andrew Fallon
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
New Valvoline Lease Investment Opportunity
This property is an automotive shop with a new 15-year lease. The tenant, Valvoline, recently signed the lease, which includes four 5-year options to extend, demonstrating a commitment to the location. The lease structure is a ground lease, positioning it as a management-free investment. The lease features 10% rent increases every 5 years during the initial term and at the beginning of each option period. The tenant is responsible for CAM, taxes, insurance, and all maintenance of the premises, leaving no landlord responsibilities. In fiscal year 2023, Valvoline's network provided approximately 27 million services, generating $1.4 billion in revenue from $2.8 billion in system-wide store sales, marking 17 years of consecutive system-wide same-store sales growth. The property is located in Ooltewah, TN.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Auto shops
Location Insight
- Map
- Local Demand
- City
- Ooltewah
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.0959852
- Latitude
- 34.9971803
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FAQs
What type of property is this?
Auto shop - New 15-year Valvoline lease with options and rent escalations.
Where is this auto shop located?
The property is located at 1609 Ooltewah Ringgold Rd Ooltewah, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: - Brand new 15-year ground lease with 4 (5-year) options to extend.; - Tenant pays CAM, taxes, insurance, and maintains all aspects of the premises (no landlord responsibilities).; - Lease includes 10% rental increases every 5 years, hedging against inflation.