Jiffy Lube

4846 McKnight Road, Pittsburgh, PA 15237

$1,343,237

Cap Rate 7.10%

$1,412,000

Cap Rate 6.75%

Updated: 05.05.23 Posted: 09.30.22 Status: Sold 05.04.22

Summary

Price $1,343,237 $1,412,000	Built/Renov 2006	Tenant Jiffy Lube
Cap Rate 7.10% 6.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,000	Lease Start 01-01-2006	#Units 158
Price/SF $335.81 $353.00	Expiration 12-31-2026	Tenant Type Automotive
NOI $95,310	R. Term 1.6	Ownership Fee Simple
Rent/SF $23.83	Increases 0.0%/1/yrs	Pop 5Mi 186,266
Lot/AC 0.50	Options 2/5yrs	AHHI 5Mi $91,764

Highlights

Jiffy Lube has been operating at this location since 2006
Tenant recently exercised a five-year option through December 2026
Strong franchisee guarantee: Pittsburgh Lubes, Inc. – A subsidiary of Lucor, Inc. which operates 158 Jiffy Lubes across six states
The tenant has 2 (5-year) option periods with annual rent increases subject to CPI
Absolute NNN lease

Location Description

Jiffy Lube is strategically located along McKnight Road which boasts over 35,000 vehicles passing by daily. The subject property is well positioned directly across the street from the North Hills Village Shopping Center, which is anchored by Target, Kohl’s, Burlington, Best Buy, Michaels, and others. Less than a mile north of the site is the Ross Park Mall – a Simon Property Group asset that...

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Key Features

Build to suit
In location for years
Near major nationals
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent suburb location
Absolute NNN
Accelerated depreciation
100+ unit franchisee backed
Personal guarantee

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Links

Jiffy Lube Wikipedia Jiffy Lube Wikipedia Pittsburgh, Pennsylvania Zip Code 15237 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jiffy Lube
Guarantor:Franchisee
Company:Shell plc
# Units:158
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 :	6,190	71,961	188,639
2022 Total Population :	6,315	73,259	190,853
2022 Employed Civilian Pop :	3,383	39,215	101,569
2022 Total Businesses :	497	2,706	6,220
2022 Average Household Income :	$ 114,521	$ 109,193	$ 103,494
2022 Total Consumer Spending :	$ 247 M	$ 2954 M	$ 7595 M
2022 Median Age :	45	47	44
2022 Total Households :	2,572	31,860	85,713
2022 Pop Age 25+: Bachelor's Degree :	1,722	16,449	39,850
2022 Average Home Value :	$ 281,734	$ 246,496	$ 256,707

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Siebert Rd	Woodland Rd	2016	14,771	0.18 mi
McKnight Rd	Houston Rd	2019	18,501	0.18 mi
Park Place	Richmond Cir	2020	502	0.26 mi
Siebert Rd	McKnight Rd	2015	10,000	0.28 mi
Siebert Road	Berkeley Rd	2019	14,616	0.36 mi
McKnight Road	Braunlich Dr	2019	19,031	0.39 mi
Siebert Road	Kentzel Rd	2019	9,748	0.40 mi
Siebert Rd	Stolsey Dr	2015	10,000	0.51 mi
Braunlich Drive	McKnight Rd	2020	964	0.53 mi
McKnight Road	Kentzel Rd	2019	21,153	0.56 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
46061 Views
70 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
42753 Views
65 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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