Oil Stop & Happy’s Car Wash | Absolute Triple-Net
527 NW North Albany Rd Albany, OR 97321
Price: $2,288,000
Status: Sold
Cap Rate: 5.20%
Year Built: 2007/Ren. 2022
NOI: $118,976
Lot Size: 0.92 acres
Price Per Foot: $508
Lease Type: Absolute Triple-Net (NNN)
Remaining Term: 13+ Years
GLA: 4,504 sqft
Property Intro
Lee & Associates and Bang Realty-Oregon, Inc. is pleased to exclusively offer for sale to qualified investors, the opportunity to acquire the fee simple interest (land & building) in an Oil Stop Drive-Thru Oil Change & Happy’s Car Wash investment property located in Albany, Oregon (“The Subject Property”). The property was built in 2007 (fully renovated in 2022) and consists of a 4,504 square foot building (both structures combined) that sits on roughly 0.92 acres. Albany, Oregon is located roughly 24 miles south of Salem and 69 miles southwest of Portland, Oregon.
investment highlights
- Oil Stop – Strong Corporate Lease | 30 Locations in 5 States (OR, AZ, CA, NM, WA) | Roughly 400 Employees
- 13 Years Remaining on an Absolute NNN Lease | Zero Landlord Responsibilities
- 2% Annual Rent Increases in Initial Lease Term | Inflation Hedge
- Diversified Income Stream – Additional Leased Income comes from a Ground Leased Pylon Sign Located on the Property (Renewal Pending)
- In 2022, the Landlord estimates that Oil Stop invested roughly $1.4M of their own capital to fully automate the existing car wash equipment, modernize the quick lube shop, improve site access, and change the flow of the property to accommodate both concepts. | Increased Annual Revenues | Commitment to Site
listing agents
