Building Details

Building Size 2,000 SF

Listed By: Dominic Sulo · License #License(s): IL: 475.134920 Show Phone

Source: Marcusmillichap

Added: Jul 27 Changed: Sep 5 Last Checked: Sep 11 at 4:12AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dominic Sulo

Investment Insights

Based on property information with market context.

This ground-leased automotive service facility is offered with a newly executed 15-year lease featuring four (4) additional five-year extension options. The lease includes scheduled rent increases of 10% every five years during the initial term and at the start of each option period.

The tenant is Valvoline. Under the lease terms, the tenant pays for CAM, taxes, and insurance, and maintains all aspects of the premises, with no landlord responsibilities.

The asset is presented as a ground lease for passive ownership, with the tenant contract in place through the initial term and extension structure.

Key Highlights

• Newly executed 15‑year ground lease with 4 (5‑year) extension options
• Lease includes 10% increases every 5 years during the initial term and at the start of each option
• Tenant pays CAM, taxes, and insurance, and maintains all aspects of the premises

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Restaurant Building Supply Real Estate Agency Hair Salon Dental Office Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

95

Businesses Nearby

105k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 46% Shops & Services 26% Dining 25% Beauty & Spa 3%

Circle K Shops & Services

26,873 visits/mo 0.1 miles

Publix Groceries

25,844 visits/mo 0.1 miles

Food City Groceries

22,604 visits/mo 0.1 miles

McDonald's Dining

17,366 visits/mo 0.1 miles

Starbucks Dining

8,604 visits/mo 0.1 miles

Demographics for 37363, TN

41,120

Population

16,584

Households

2.5

Avg Household Size

41

Median Age

43%

College-Educated

93%

High-School Grad

60.1 sq mi

ZIP Area

684

Density / Sq Mi

$94,873

Median Household Income

$50,180

Median Earnings

$1,495

Median Rent

$349,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Auto shop - A ground-leased automotive service property with a newly executed 15-year tenant lease and options to extend.

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 $1,900,000.

What are key features of this property?

This property features: Newly executed 15‑year ground lease with 4 (5‑year) extension options; Lease includes 10% increases every 5 years during the initial term and at the start of each option; Tenant pays CAM, taxes, and insurance, and maintains all aspects of the premises