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Views: 98 DOM: 145 Updated: 09.16.24 Posted: 07.10.24 Status: Active

Summary

Price $2,872,000
Built/Renov 2020
Tenant Jiffy Lube
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,805
Lease Start 02-01-2020
#Units 2,169
Price/SF $1,023.89
Expiration 02-28-2040
Tenant Type Automotive
NOI $157,943
R. Term 15.3
Ownership Fee Simple
Rent/SF $56.31
Increases 10.0%/5/yrs
Pop 5Mi 220,036
Lot/AC 0.63
Options 4/5yrs/10%
AHHI 5Mi $148,131

Lease Highlights

  • Jiffy Lube has 15+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Jiffy Lube is strategically located on Pine Avenue, a major east-west arterial with access to 13,200 vehicles passing by daily. The property is surrounded by well-known national tenants including Stater Bros Markets, 7-Eleven, Chipotle, Rivian, and more. Notable industrial tenants in the vicinity include Amazon, FedEx, DHL, Walmart, NFI, Yokohama Tire, among others. Additionally, the site is...

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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 range of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,807 70,837 224,516
2024 Total Population : 14,493 69,923 222,073
2024 Employed Civilian Pop : 6,237 31,794 105,075
2024 Total Businesses : 121 1,210 5,992
2024 Average Household Income : $ 132,920 $ 164,377 $ 157,429
2024 Total Consumer Spending : $ 448 M $ 2655 M $ 8219 M
2024 Median Age : 34 36 37
2024 Total Households : 3,890 18,887 61,045
2024 Pop Age 25+: Bachelor's Degree : 2,296 13,457 39,334
2024 Average Home Value : $ 633,795 $ 710,803 $ 677,812
*ESRI data is presented for informational purposes only

Listing Broker

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