Seaside Retail for Sale
Colliers International has been selected to exclusively market for sale Valvoline Instant Oil Change, a single-tenant NNN investment property located at 1109 S Holladay Drive in Seaside, Oregon. The 2,680-squarefoot building, constructed in 2005 on a 0.31-acre lot, was originally an Oil Can Henry’s quick-lube facility acquired by Valvoline in 2016 and continues to operate as a drive-thru oil change center. The corporate-guaranteed lease has been recently extended for a new 5-year term commencing September 1, 2025, through August 31, 2030, with rental increases at the beginning of years 2 and 5. The tenant holds three 3-year options to extend, each featuring a 4.5% rental increase. Landlord responsibilities on-site are limited to capital expenditures, with the tenant responsible for operating expenses including property taxes and insurance.
Valvoline is centrally located in Seaside, Oregon, a vibrant coastal city and premier tourist destination along the Oregon coast. The city attracts over 3 million visitors annually to its iconic promenade, beaches, and attractions. The property enjoys high visibility along S Holladay Drive, a primary thoroughfare connecting to U.S. Route 101 – the Oregon Coast Highway – with traffic counts exceeding 20,000 vehicles per day during peak season.
Valvoline boasts over 2,000 locations nationwide and strong financials including $1.67 billion in trailing twelve-month revenue. Corporate guaranteed from Valvoline Inc. (NYSE: VVV), and investment-grade rated Ba2 by Moody’s and BB by S&P, this property represents an attractive, secure, low-management investment for passive income seekers.
