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Corp Grease Monkey | Car Wash & Detail Center 309 S Timberland Dr 9,653 SF Retail Building Lufkin, TX 75901 $3,690,000 ($382.26/SF) 7% Cap Rate
Investment Highlights
- CORPORATE ABSOLUTE NNN LEASE – LAND AND BUILDING
- LARGE PARCEL – 1.59 ACRES
- VALUE ADD/REDEVELOPMENT OF CAR WASH
- 10% RENT INCREASE IN 2028
- DOWNTOWN LUFKIN LOCATION
- HIGH TRAFFIC COUNTS
Executive Summary
Grease Monkey pays rent on the entire property — the oil change center, the full-service car wash tunnel and the detail center — but currently operates only the oil change component and is not fully operating the car wash and detail center, which sits on its own separate legal parcel.
That parcel separation is the opportunity: an investor collects passive, corporate-guaranteed income with 10% increases for the next 7+ years while retaining the flexibility to re-lease the car wash to a dedicated operator and negotiate a new long-term lease with Grease Monkey on the oil change parcel, sell the car wash parcel separately to a car wash operator and take chips off the table, or hold and redevelop the entire 1.59-acre site — all while the tenant continues to pay full rent on the whole property.
Property Facts
Amenities
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Monument Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Services
- 9,653 SF
- $26.75
- Triple Net
- Oct 2033
Founded in 1978 and headquartered in Denver, Colorado, the Grease Monkey® brand currently operates centers internationally with operations in Mexico, China, Colombia and Saudi Arabia. Grease Monkey® is the nation’s largest independent franchisor of automotive oil change centers. Grease Monkey® International, LLC is the nation’s largest independent franchisor of automotive oil change centers serving many customers each year. Many Grease Monkey® centers are franchisee owned and operated. Their franchisees are entrepreneurs who come from a wide range of backgrounds and experience. Besides offering needed maintenance services to car and truck owners, Grease Monkey® franchisees play an important role as business owners, employers, supporters, and good citizens in the communities they serve.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Services | 9,653 SF | $26.75 | Triple Net | Oct 2033 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 92602 | Improvements Assessment | $347,490 |
| Land Assessment | $49,170 | Total Assessment | $396,660 |
Property Taxes
Contact the Sale Advisor
Corp Grease Monkey | Car Wash & Detail Center | 309 S Timberland Dr