loader
Join Free
Views: 97 DOM: 125 Updated: 11.30.23 Posted: 06.16.23 Status: Sold 10.19.23

Summary

Price $1,812,500 $3,055,000
Built/Renov 2023
Tenant Jiffy Lube
Cap Rate 9.27% 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,296
Lease Start 08-01-2023
#Units 29
Price/SF $549.91 $926.88
Expiration 07-31-2043
Tenant Type Automotive
NOI $168,000
R. Term 18.7
Ownership Fee Simple
Rent/SF $50.97
Increases 10.0%/5/yrs
Pop 5Mi 186,579
Lot/AC 0.73
Options 4/5yrs/10%
AHHI 5Mi $94,004

Lease Highlights

  • Brand-new 2023 construction
  • Brand-new 20-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease with zero landlord responsibilities
  • Corporate guaranteed lease by SRE Corporation (29 units)

Location Description

This newly constructed Jiffy Lube is ideally located on N. Geneva Road with clear visibility and access to 19,996 vehicles passing by daily. It is positioned in the fastest growing community in Utah which has seen a 400% population growth since 2010. The subject property is the first Jiffy Lube in Vineyard and benefits from no competition with other Jiffy Lube or national brands nearby....

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 range of...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,758 92,464 188,192
2023 Total Population : 16,240 91,766 187,077
2023 Employed Civilian Pop : 8,915 46,820 93,589
2023 Total Businesses : 395 2,918 6,232
2023 Average Household Income : $ 110,599 $ 106,435 $ 110,553
2023 Total Consumer Spending : $ 485 M $ 2621 M $ 5453 M
2023 Median Age : 29 28 28
2023 Total Households : 5,065 28,390 57,128
2023 Pop Age 25+: Bachelor's Degree : 2,521 14,961 31,566
2023 Average Home Value : $ 479,037 $ 472,323 $ 529,549
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Center St S 1500 W 2018 10,734 0.30 mi
2018 9,696 0.42 mi
W Center St I- 15 2018 6,525 0.45 mi
N Geneva Rd W 400 N 2018 19,559 0.46 mi
East Holdaway Road S Sleepy Ridge Dr 2018 500 0.47 mi
W Center St 2018 10,148 0.48 mi
2018 9,144 0.49 mi
I- 15 W Center St 2018 2,533 0.50 mi
South 1200 West W 180 S 2017 14,000 0.51 mi
S 1200 W W 120 S 2011 13,010 0.52 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity