830 Main St, Salem, VA 24153-4718

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2024-built Take 5 Oil Change facility located at 830 W Main St, Salem, VA 24153. The property boasts a 0.56-acre lot and features a single-story, Class A building with 100% occupancy under a 15-year absolute triple-net (NNN) ground lease. The lease includes four 5-year renewal options, with rent bumps built in, providing consistent income growth and inflation protection. The current annual net operating income (NOI) is $87,000, yielding a 6.00% cap rate on the $1,450,000 asking price. This strategically located outparcel, situated near a Lowe's, offers excellent visibility and accessibility. The tenant, Take 5 Oil Change, is a high-growth operator with a proven track record (28 existing units and 11 under development), providing a strong financial foundation for this investment. The lease's attractive low ground rent is priced below replacement cost, further enhancing the investment's appeal. This is a passive ownership opportunity with stable cash flow and significant long-term potential. The property is offered for sale as a leaseback.