2254 FL-16, St. Augustine, FL 32084

Long-Term Absolute NNN Lease

~11 years remaining on primary term (21+ years with options) with 7.5% rent escalations every 5 years. Valvoline Inc. (NYSE: VVV) delivered $1.71B in FY2025 revenue with 19 consecutive years of same-store sales growth. S&P credit rating: BB/Stable. Absolute NNN structure with zero landlord responsibilities.

Exceptional Demographic Momentum in a High-Growth Market

St. Johns County has grown 29.66% since 2020, ranking #1 in Florida for population growth. The 3-mile population growth is expected to be 3.22% annual growth vs. ~0.5% nationally (6x the national average). St. Augustine ranked #8 U-Haul Growth City in the U.S. for 2025. County projected to reach 400,000+ residents by 2029.

Major Infrastructure Investment Driving Corridor Transformation

A $25.8M project broke ground August 2025 to widen SR-16 from 2 to 4 lanes with smart signalization, completing Spring 2027. The full 5.9-mile corridor widening totals $189M-$225M. Current traffic at the subject property corridor ranges 36,500-52,000 vehicles per day.

Prime Retail Node | Two Publix Stores Within Miles of the Asset

Publix opened a 48,387 SF store at Elevation Pointe (2875 SR-16) on January 15, 2026, less than 1 mile from the subject property. A second 55,701 SF Publix opened at Silverleaf Market on March 26, 2026. Publix’s institutional-grade site selection validates the SR-16 corridor’s consumer spending power and growth trajectory.