TAKE 5 OIL CHANGE, HARRISONBURG
Absolute NNN | Price: $2,016,667 | Cap Rate: 6.00%
Marketing description
This site sits along Harrisonburg’s East Market Street, the primary retail corridor of the city and home to the largest concentration of the market’s national retail tenants. Commuter traffic funneled between Interstate 81 to the north and Rockingham County to the south supply this frontage with approximately 29,000 vehicles per day. The site is only minutes away from the area’s main office concentration and James Madison University, the city’s largest educational institution and strongest economic driver, ensuring a reliable customer base is present year-round. The triple-net status of this lease affords the buyer a zero-responsibility arrangement, with no real estate tax, property insurance, utility, or maintenance fees required of the buyer. A recurring 10% rent escalation is included every five years through the standing 15-year lease term, with the next escalation planned for April of 2027. This is backed by a reliable guaranty from the franchisor, Quick Lube of Carolina, LLC that further strengthens the backing for investment.
Investment highlights
- Absolute NNN Ground Lease with 2027 NOI Escalation– This site operates under an absolute triple-net ground lease and requires zero responsibility from the landlord for real estate tax, property insurance, utility, and site maintenance. A 10% rent escalation every five years through the initial term is included in the lease agreement, with the next escalation planned for April of 2027.
- The Market’s Retail Spine - East Market Street is the principal commercial spine of the Harrisonburg market, where the area’s national retail concentrates. Approximately 29,00 vehicles pass this site daily.
- A Strong Local Market – This site is a direct outparcel to Martin’s supermarket and Kohl’s, and is situated nearby national tenants such as Kroger, Aldi, Target, Planet Fitness, and a cluster of high-volume restaurants that further drive traffic throughout the corridor.
- Proven Franchise Backing – Take 5 is one of the fastest-growing quick-lube franchises in North America. The local operator, Quick Lube of Carolina, LLC (d/b/a EB Partners, LLC), is the largest Take 5 franchisee by store count and was named Take 5 Franchise of the Year. The guarantor’s multiunit operating history and the franchisor’s national brand recognition provide strong credit backing for this investment, with 49 individual properties also backed by the guarantor.
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