Jiffy Lube

1015 West Main Street, Hendersonville, TN 37075

$875,000

Cap Rate 7.42%

$927,900

Cap Rate 7.00%

DOM: 41 Updated: 10.17.23 Posted: 08.23.23 Status: Sold 10.04.23

Summary

Price $875,000 $927,900	Built/Renov 1988	Tenant Jiffy Lube
Cap Rate 7.42% 7.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,220	Lease Start 11-30-2023	#Units 2,169
Price/SF $394.14 $417.97	Expiration 11-29-2028	Tenant Type Automotive
NOI $64,953	R. Term 3.5	Ownership Fee Simple
Rent/SF $29.26	Increases 7.0%/5/yrs	Pop 5Mi 116,763
Lot/AC 0.46	Options 1/5yrs/7.4%	AHHI 5Mi $84,705

Highlights

Jiffy lube has a 15+ year operating history at this location
Tenant recently exercised their first option & has 5 years of base term remaining
Lease has 1 (5-year) option remaining that includes a 7.4% rental increase
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease (NYSE: SHEL)
Jiffy Lube is an investment grade tenant (S&P AA-)

Location Description

Jiffy Lube is strategically located along W Main Street (SR 6) with clear visibility and access to 29,800 vehicles passing by daily. The site is surrounded by several national/credit tenants including Walmart Supercenter, Zaxby’s, Tractor Supply Co, Best Buy, and many more. The 5-mile trade area is supported by more than 116,000 residents, and 47,000 households earning an average household...

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Key Features

Build to suit
Highway location
Top 100 MSA
Strong demographics
Income tax free state
Long operation history
Absolute NNN
Accelerated depreciation
Traded and rated company
Corporate Guarantee

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Links

Jiffy Lube Wikipedia Jiffy Lube Wikipedia Hendersonville, Tennessee Zip Code 37075 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jiffy Lube
Guarantor:Corp T and Rated
Company:Shell plc
# Units:2,169
Tenant S&P: AA-
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
2028 Total Population :	3,844	42,580	118,084
2023 Total Population :	3,793	42,037	116,108
2023 Employed Civilian Pop :	2,450	22,891	60,715
2023 Total Businesses :	361	2,383	4,240
2023 Average Household Income :	$ 66,391	$ 87,280	$ 90,921
2023 Total Consumer Spending :	$ 99 M	$ 1349 M	$ 3720 M
2023 Median Age :	34	40	40
2023 Total Households :	1,697	17,819	47,365
2023 Pop Age 25+: Bachelor's Degree :	771	7,080	18,439
2023 Average Home Value :	$ 384,428	$ 374,017	$ 393,272

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Main Street	Canfield Pl	2022	29,819	0.06 mi
US 31E	Rockland Rd	2021	32,704	0.06 mi
Rockland Road	Louise Ave	2022	10,280	0.10 mi
Free Hill Road	W Main St	2022	4,419	0.20 mi
	Rockland Rd	2022	24,376	0.44 mi
West Main Street	Monthaven Blvd	2022	28,634	0.57 mi
ROCKLAND RD.	Savo Bay	2021	10,108	0.64 mi
	Bartlett Ln	2022	5,273	0.65 mi
	Monthaven Blvd	2022	6,642	0.68 mi
	Bartlett Ln	2022	8,739	0.72 mi

Listing Broker

Jared Kaye

Matthews REIS

Contact

10 Listings
2617 Views
10 Sold

Sonny Molloy

Matthews REIS

Contact

10 Listings
2617 Views
10 Sold

Jared Kaye

Jared Kaye is an accomplished and seasoned real estate professional serving as Senior Vice President at Matthews Real Estate Investment Services™. Jared’s areas of specialization include the investment sales of single-tenant net lease assets and small to mid-sized strip centers, sale-leasebacks and portfolio dispositions, and capital facilitation. Prior to Matthews™, Jared was a First Vice President of Investments and Senior Director within Marcus & Millichap’s National Retail Group. Dur

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Sonny Molloy

Sonny Molloy and his business partner, Jared Kaye, moved to Matthews™ to lead the company’s single-tenant net lease practice throughout the Southeast and transact small to mid-sized retail centers. Together, Sonny and Jared have completed $2.9 billion in investment real estate assignments throughout 29 states across the U.S., with 67% being single-tenant net lease and 33% multi-tenant retail transactions. Ninety-three percent [93%] of their career transactions involved real estate located in th

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