TAKE 5 OIL CHANGE, HARRISONBURG

Harrisonburg is the commercial and cultural hub of the central Shenandoah Valley in western Virginia. The city sits at the intersection of Interstate 81 and U.S. Route 33 (East Market Street), providing direct access to Staunton, Charlottesville, Richmond, and the Washington, D.C. metropolitan area. Interstate 81 serves as the primary north-south freight and commuter corridor linking the mid-Atlantic to the Southeast, carrying 48,000 vehicles per day through the Harrisonburg interchange. This connectivity positions the city as a regional gateway for both commerce and consumer spending. The Harrisonburg metropolitan area ranks as the second-fastest-growing metro in Virginia and was recognized as one of the top twenty emerging metros in the United States. Job creation, wage growth, real retail sales, and building permit activity continue to outpace most of the Commonwealth on a percentage basis. The metro area population exceeds 140,000, with an estimated market-served population of 261,000 driven by Harrisonburg’s status as a regional shopping and services destination that attracts consumers from 20 or more miles away. Four colleges and universities anchor the local economy: James Madison University (22,000 students), Blue Ridge Community College (7,315 students), Eastern Mennonite University (1,870 students), and Bridgewater College (1,800 students). This concentration of higher-education institutions contributes a stable year-round population base and a steady pipeline of consumer demand. Healthcare is another major economic driver. Sentara RMH Medical Center, a 288-bed regional hospital located less than three miles from the subject property, is one of the largest employers in the metro area. The combination of education, healthcare, agriculture, and a growing technology sector produces a diversified employment base that insulates the market from single-industry risk. Within the immediate retail corridor along East Market Street, more than 3 million square feet of retail space serves the city and the surrounding region, anchored by national tenants such as Walmart, Target, Costco, Home Depot, Lowe’s, and Kroger. This density of destination retail reinforces the subject property’s location as a high-frequency, high-visibility service site.This site sits along Harrisonburg’s East Market Street, the primary retail corridor of the city and home to the largest concentration of the market’s national retail tenants. Commuter traffic funneled between Interstate 81 to the north and Rockingham County to the south supply this frontage with approximately 29,000 vehicles per day. The site is only minutes away from the area’s main office concentration and James Madison University, the city’s largest educational institution and strongest economic driver, ensuring a reliable customer base is present year-round. 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 April of 2027. This is backed by a reliable guaranty from the franchisor, Quick Lube of Carolina, LLC that further strengthens the backing for investment.