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DOM: 50 Updated: 05.17.23 Posted: 10.28.22 Status: Sold     12.17.22

Summary

Price $1,538,462 $1,785,714
Built/Renov 1987
Tenant Jiffy Lube
Cap Rate 6.50% 5.60%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,956
Lease Start 11-01-2022
#Units 28
Price/SF $786.53 $912.94
Expiration 10-31-2037
Tenant Type Automotive
NOI $100,000
R. Term 12.4
Ownership Fee Simple
Rent/SF $51.12
Increases 10.0%/5/yrs
Pop 5Mi 225,034
Lot/AC 0.38
Options 4/5yrs/10%
AHHI 5Mi $52,002

Highlights

  • Tenant has over 14.5 years remaining in their initial lease term with 4 (5-year) options to extend
  • The lease features 10 % rental increases every 5 years beginning in lease year 5 and throughout options to extend
  • Triple net lease presents zero landlord responsibilities
  • Experienced Jiffy Lube operator, Jiffy Lube of Indiana, a 51-unit operator with $50 million in revenue
  • Guaranty from Hoosier Automotive (28-units), the most robust entity under Jiffy Lube of Indiana

Location Description

The 1,956 square foot Jiffy Lube is positioned along Shadeland Avenue (21,900 VPD), a primary north-south thoroughfare for the area. The property is also within proximity to Washington Street (22,600 VPD) which runs directly to downtown Indianapolis. Tenants in the area include Kroger, Chase Bank, Caliber Collision, Safelite, McDonald’s, PNC Bank, Applebee’s, U-Haul, and several others. Jiffy...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jiffy Lube
  • Guarantor:Franchisee
  • Company:Hoosier Automotive
  • # Units:28
  • Tenant S&P: A+
  • Moody’s: Aa2
  • Stock:NYSE: SHEL

About Tenant

Jiffy Lube International, Inc. is an American chain of automotive oil change specialty shops, founded in 1971. The company has been a subsidiary of Shell PLC since 2002. Jiffy Lube has more than...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 7,261 74,241 229,716
2022 Total Population : 7,230 73,902 227,760
2022 Employed Civilian Pop : 3,496 35,238 105,419
2022 Total Businesses : 394 2,565 6,112
2022 Average Household Income : $ 67,572 $ 62,699 $ 60,072
2022 Total Consumer Spending : $ 189 M $ 1682 M $ 4737 M
2022 Median Age : 46 39 36
2022 Total Households : 3,205 30,880 90,582
2022 Pop Age 25+: Bachelor's Degree : 804 7,989 20,608
2022 Average Home Value : $ 160,065 $ 180,212 $ 184,603
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Shadeland Ave E 10th St 2018 20,683 0.06 mi
N Shadeland Ave E 10th St 2016 21,938 0.08 mi
Local E Washington St 2020 21,998 0.09 mi
Shadeland Avenue Shadeland Ave 2018 21,750 0.19 mi
Local Shadeland Ave 2020 1,377 0.20 mi
Local Shadeland Ave 2020 713 0.21 mi
N Shortridge Rd E 10th St 2009 13,141 0.22 mi
Local E Washington St 2020 1,265 0.23 mi
Local E 10th St 2020 819 0.24 mi
Shadeland Ave E Washington St 2018 25,375 0.29 mi

Listing Broker

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