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Virtual Drive-By

Valvoline Absolute NNN

180 Northeast Midway Boulevard · Oak Harbor, WA 98277 · Convenience / Fuel

Asking price
$1,100,000
Cap rate
6.00%
NOI
$66,000

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We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN
Term remaining9.0 yrs
Expiration07/2035
Rent bumps10% Every 5 Years
Options4 x 5 Year Options
Ground leaseNo
Credit profileCorporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF2,000
Price / SF$550
Year built2000
Lot size—
TypeConvenience Store, Gas Station, Storefront
Days on market5

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​Depreciation Benefit: Rare fee simple Corporate Valvoline, allowing for depreciation.
  • ​Corporate Credit: The lease is guaranteed by corporate credit tenant Valvoline LLC, the second-largest oil change service provider in the United States, backed by a $4.1 billion market capitalization and a network of more than 2,000 locations nationwide.
  • ​Absolute Triple Net (NNN) Lease: No landlord responsibilities.
  • ​Lease Term: 9 years remain on the lease with 4 x 5-year options to extend.
  • ​Strategic High-Traffic Location: Positioned on Midway Blvd (8,375 VPD), less than a mile from Hwy 20, a major North and South Freeway that sees 21,148 VPD.
  • ​No State Income Tax: Washington imposes no state personal or corporate income tax, creating a favorable business and investment environment.

Property overview

Sands Investment Group is pleased to exclusively offer for sale the 2,000 SF Valvoline property located at 180 NE Midway Boulevard in Oak Harbor, WA.​ This investment is secured by an Absolute Triple Net (NNN) Lease, offering a truly passive ownership opportunity with no landlord responsibilities.​ With approximately 9 years of lease term remaining and 4 x 5-year renewal options, the asset provides long-term income stability, predictable cash flow, and attractive downside protection, making it an exceptional investment opportunity.​

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.