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DOM: 102 Updated: 07.10.23 Posted: 03.30.23 Status: Sold 07.11.23

Summary

Price $3,137,000 $3,356,500
Built/Renov 2023
Tenant Jiffy Lube
Cap Rate 5.35% 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,353
Lease Start 02-01-2023
#Units 2,169
Price/SF $935.58 $1,001.04
Expiration 02-01-2038
Tenant Type Automotive
NOI $167,825
R. Term 12.7
Ownership Fee Simple
Rent/SF $50.05
Increases 10.0%/5/yrs
Pop 5Mi 144,741
Lot/AC 0.96
Options 5/5yrs/10%
AHHI 5Mi $90,990

Highlights

  • New 2023 construction
  • Brand-new 15-year lease with 5 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate guarantee by Shell plc (NYSE: SHEL)
  • Jiffy Lube is an investment grade tenant (S&P: A+)

Location Description

This newly constructed Jiffy Lube is located just off the signalized, hard corner intersection of Miccosukee Road and Capital Circle NE, a primary North/South thoroughfare serving the East side of Tallahassee and averaging 72,900 vehicles passing by daily. Located within a dense retail corridor, nearby major national/credit tenants include Publix, McDonald’s, Walgreens, Walmart Supercenter,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jiffy Lube
  • Guarantor:Corp T and Rated
  • Company:Shell plc
  • # Units:2,169
  • Tenant S&P: A+
  • Moody’s: Aa2
  • Stock:NYSE: SHEL

About Tenant

Jiffy Lube International, Inc., dba Jiffy Lube, is an automotive service chain offering oil changes and various other services. Besides oil changes, Jiffy Lube facilities offer a wide...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,346 52,432 147,324
2023 Total Population : 7,431 52,504 145,962
2023 Employed Civilian Pop : 3,827 31,406 78,201
2023 Total Businesses : 1,041 4,623 9,332
2023 Average Household Income : $ 86,690 $ 101,735 $ 91,167
2023 Total Consumer Spending : $ 264 M $ 2174 M $ 4955 M
2023 Median Age : 38 39 32
2023 Total Households : 3,465 24,622 62,543
2023 Pop Age 25+: Bachelor's Degree : 1,691 11,984 28,255
2023 Average Home Value : $ 267,113 $ 353,148 $ 341,855
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Miccosukee Rd Miccosukee Commons Dr 2012 19,494 0.08 mi
Miccosukee Rd River Birch Hollow 2012 10,604 0.22 mi
Capital Circle Northeast Exeter Rd 2021 45,500 0.28 mi
United States Highway 319 Exeter Rd 2011 52,803 0.30 mi
United States Highway 319 Capital Medical Blvd 2011 50,000 0.35 mi
Capital Circle Northeast Capital Medical Blvd 2018 52,000 0.35 mi
Capital Circle Northeast Care Dr 2021 48,000 0.41 mi
Capital Medical Blvd Junwin Ct 2012 10,178 0.44 mi
Centre Pointe Blvd Mallory Sq 2012 3,478 0.46 mi
United States Highway 319 Exeter Rd 2011 44,500 0.48 mi

Listing Broker

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