TAKE 5 OIL CHANGE, WAYNESBORO

Waynesboro is an independent city in the Commonwealth of Virginia, situated in the heart of the Shenandoah Valley at the eastern base of the Blue Ridge Mountains. The city is a principal component of the Staunton-Waynesboro Metropolitan Statistical Area, which includes all of Augusta County and the independent cities of Staunton and Waynesboro. Interstate 64 passes through the city with an average daily traffic count of 43,000 vehicles, providing direct access to Charlottesville (30 minutes east) and Staunton (15 minutes west). The Blue Ridge Parkway, Skyline Drive, and the Appalachian Trail are all accessible within minutes, contributing to a steady flow of tourism-driven traffic through the area. The local economy is anchored by a diverse mix of institutional employers. Augusta Health, a 255-bed regional medical center on a 230-acre campus, is one of the largest employers in the MSA and is located less than five miles from the subject property. A new Amazon Fulfillment Center employing approximately 500 workers has further expanded the employment base, while a Target Distribution Center spanning 1.5 million square feet provides additional logistics-sector employment. The Waynesboro School Board is the largest single employer in the city. Norfolk Southern Railway trackage runs through the eastern side of the city, supporting industrial and distribution activity. The retail corridor along U.S. Route 340/Rosser Avenue is the primary commercial spine of Waynesboro, carrying 29,000 vehicles per day. The subject property is an outparcel to the Waynesboro Marketplace development, which the City of Waynesboro supported with economic incentives through a Performance Agreement with the developer. Adjacent outparcels include Chipotle, Aspen Dental, Sheetz, Popeyes, and Texas Roadhouse, all part of the same new-construction retail node. The surrounding corridor features a concentration of national retailers including Walmart Supercenter, Target, Home Depot, Lowe’s, Best Buy, ALDI, Chick-fil-A, Panera Bread, Starbucks, and KFC. More than a dozen hotels with a combined 446 rooms are located within a one-mile radius, providing an additional customer base for convenience services. Mary Baldwin University (2,184 students) and several K-12 schools are located nearby, contributing to a stable residential and consumer population.This absolute triple-net ground lease is located along Waynesboro’s Rosser Avenue, directly adjacent to Exit 94 along Interstate 64. The property is part of Waynesboro’s primary commercial corridor, experiencing traffic counts of 29,000 vehicles per day along Rosser Avenue, and is supplied by an additional 49,000 vehicles that pass through the interstate daily. The site is situated in a robust local market home to high-profile national tenants such as Walmart, Chipotle, and Texas Roadhouse. 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 August of 2027. This is backed by a reliable guaranty from the franchisor, Quick Lube of Carolina, LLC, that further strengthens the backing for investment.