Jiffy Lube

8475 U.S. Highway 64, Bartlett, TN 38133

$1,450,000

Cap Rate 5.91%

$1,557,000

Cap Rate 5.50%

DOM: 33 Updated: 12.20.23 Posted: 10.11.23 Status: Sold 11.13.23

Summary

Price $1,450,000 $1,557,000	Built/Renov 2000	Tenant Jiffy Lube
Cap Rate 5.91% 5.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,039	Lease Start 10-04-2021	#Units 520
Price/SF $477.13 $512.34	Expiration 10-31-2036	Tenant Type Automotive
NOI $85,680	R. Term 11.5	Ownership Fee Simple
Rent/SF $28.19	Increases 8.0%/3/yrs	Pop 5Mi 151,743
Lot/AC 0.53	Options 4/5yrs/8%	AHHI 5Mi $101,933

Lease Highlights

Ranked #3 Highest Performing Jiffy Lube in the State
Jiffy Lube has 13 years remaining on its current lease term with 4 (5-year) options to extend
The lease features 8% rent increases every 5 years
Below market replaceable rent
Absolute NNN | Zero replacement cost
Largest Jiffy Lube franchisee in the U.S.- Team Car Care East, LLC operates over 520 locations

Location Description

Jiffy Lube is strategically situated on U.S. Route 64, where it benefits from a high daily traffic count of 60,338 vehicles. The subject property offers excellent visibility and convenient ingress/egress, being located within a quarter mile from Interstate 40 that leads directly to downtown Memphis. Additionally, it is situated in Memphis' prime retail corridor, adjacent to the Wolfchase...

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Key Features

Build to suit
High traffic 50M+ VPD
Freeway close
Highway location
Top 100 MSA
Income tax free state
Absolute NNN
Top performing store
Investment grade tenant
Top franchise operator

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Links

Jiffy Lube Wikipedia Jiffy Lube Wikipedia Bartlett, Tennessee Zip Code 38133 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jiffy Lube
Guarantor:Franchisee
Company:Team Car Care East, LLC
# Units:520
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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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Stage Road	Parking Lot	2022	32,781	0.23 mi
	Stage Rd	2022	16,925	0.38 mi
	US Hwy 64	2022	13,962	0.43 mi
	I- 40	2022	3,318	0.45 mi
	N Germantown Pkwy	2021	79,912	0.50 mi
Isaac Hayes Memorial Highway	Wolstenholme Dr	2022	86,114	0.50 mi
	Stage Rd	2022	3,478	0.59 mi
US Hwy 64	N Rockcreek Pkwy	2014	47,865	0.66 mi
	Hampton Ct Rd N	2022	50,435	0.71 mi
TN 177	Horizon Center Blvd	2021	73,408	0.80 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
35466 Views
63 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
38281 Views
68 Sold

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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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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