24702 Morton Ranch Rd, Katy, TX, 77493, US

Valvoline - Katy, TX

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Valvoline at 24702 Morton Ranch Road in Katy, Texas (“Property” or “Asset”). The Property is operating on a corporate absolute NNN ground lease with 15.0 years of primary lease term, 10.0% rent escalations every 5 years and four, five-year options. Valvoline is the #2 largest oil change chain in the world with 18 consecutive years of system-wide same-store sales growth.

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Attributes

Asking price

CA$3,386,000

Cap rate

5.25%

NOI

CA$178,000

WAULT

15 years

Building area net

194 sm

Year built

2026

Land area gross

0.42 ha

Media

Investment highlights

Valvoline 15.0-year absolute NNN ground lease with zero landlord responsibilities
H-E-B anchored pad site, the #1 visited HEB in Katy, TX
Incredible demand characteristics driven by 1-mile AHHI of $135K+ and 206% population growth since 2010
Adjacent to Katy Park, a 100-acre sports complex with 700,000+ annual visitors
Valvoline has had 18 consecutive years of system-wide same-store sales growth
Frontage along Morton Rd with accessibility to 44,000+ VPD