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DOM: 91 Updated: 05.05.23 Posted: 12.14.22 Status: Sold     03.15.23

Summary

Price $1,300,000 $1,391,000
Built/Renov 1987
Tenant Jiffy Lube
Cap Rate 6.15% 5.75%
Lease Type NN+
Guarantor Franchisee
Size/SF 2,177
Lease Start 07-01-1986
#Units 550
Price/SF $597.15 $638.95
Expiration 12-31-2033
Tenant Type Automotive
NOI $80,009
R. Term 8.6
Ownership Fee Simple
Rent/SF $36.75
Increases 8.0%/4/yrs
Pop 5Mi 121,360
Lot/AC 0.39
Options 4/5yrs/8%
AHHI 5Mi $98,637

Highlights

  • Tenant has 11 lease years remaining with 4 (5-year) options to extend
  • Lease features rental increase of 8% in year 4 & at the beginning of each option period
  • Team Car Care (Previously Heartland Automotive Services) operates over 550 Locations from coast to coast and is the largest franchisee of quick lube service stores in the country

Location Description

The 2,177 SF building on 0.39-acre parcel is well positioned along W Ina Road (37,700+ VPD) with excellent access from Interstate 10 (111,042+ VPD). Many automotive service-oriented businesses are nearby including Advance Auto Parts, Pep Boys, Clean Freak Express Car Wash, Big Brand Tire & Service, and Discount Tire. Other nearby national retailers include Lowe’s Home Improvement, Target,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jiffy Lube
  • Guarantor:Franchisee
  • Company:Team Car Care LLC.
  • # Units:550
  • 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 : 5,193 57,282 122,427
2022 Total Population : 5,129 56,557 121,535
2022 Employed Civilian Pop : 2,751 29,447 59,656
2022 Total Businesses : 428 1,797 3,644
2022 Average Household Income : $ 95,239 $ 92,651 $ 98,622
2022 Total Consumer Spending : $ 161 M $ 1829 M $ 4134 M
2022 Median Age : 39 39 42
2022 Total Households : 1,986 23,081 49,020
2022 Pop Age 25+: Bachelor's Degree : 585 7,944 19,289
2022 Average Home Value : $ 220,096 $ 273,363 $ 297,183
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Cam de Oesta W Cll Marco 2004 3,500 0.22 mi
W Ina Rd N Oldfather Rd 2016 26,776 0.22 mi
I-10 Exit 248 C-Ramp W Ina Rd 2020 7,340 0.24 mi
W Ina Rd N Casa Grande Hwy 2003 37,700 0.27 mi
W Mars St W Rae Cir 2006 1,204 0.28 mi
N Casa Grande Hwy W Ina Rd 2018 1,082 0.29 mi
I-10 Exit 248 G-Ramp W Ina Rd 2020 8,502 0.30 mi
N Frontage Rd Walker Rd 2018 1,974 0.33 mi
N Oldfather Rd W Mars St 2004 9,000 0.36 mi
West Ina Road I- 10 2018 11,594 0.38 mi

Listing Broker

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