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Shopping Auto Center

Hypoluxo Auto Care

4601 Hypoluxo Rd, Lake Worth, FL 33463

Listing Price: $4,300,000

Cap Rate
5.00%
Gross SF
7,983
Rentable SF
7,983
Price/Gross SF
$538.64
Lot Size
0.86 acres
Year Built
1998

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer the rare opportunity to acquire Hypoluxo Auto Care (the "Property"), a one building, specialized auto care center on 0.86 acres in Palm Beach County. Constructed in 1998, the Property consists of approximately 8,000 square feet of rentable space, centrally located within the Boynton/Lantana submarket in Palm Beach County. The Property is currently 100-percent occupied with a strategic blend of automotive repair servicing tenants, Jiffy Lube and The Tire Choice, that have enjoyed tenancy at the Hypoluxo Auto Care center for an average of 17 years. Hypoluxo Auto Care benefits from being an outparcel to a Walmart-anchored shopping center and across the street from a brand-new Publix-anchored shopping center, that is currently under construction. Jiffy Lube has been a tenant in the center since the property was constructed and is the number one grossing store in the district. The Property is located on Hypoluxo Road, halfway between Interstate 95 and the Florida Turnpike, with close proximity and easy access to these two major highways. There has been a significant rise in demand for Palm Beach County auto care space, with positive absorption and decreasing vacancies creating strong market conditions to push the average rents even higher. Hypoluxo Auto Care offers a stabilized cash flow, with the opportunity of upside in the rents, once The Tire Choice exercises their final option.

Investment Highlights

  • CORPORATE-GUARANTOR, WITH PUBLICLY TRADED MONRO
  • ABSOLUTE-NET LEASES, TENANTS PAY FOUR-PERCENT MANAGEMENT FEE
  • UNDER-MARKET RENTS
  • NUMBER-ONE GROSSING JIFFY LUBE STORE IN THE DISTRICT
  • JIFFY LUBE FRANCHISE OPERATOR WITH OVER 100 STORES
  • CENTRAL PALM BEACH LOCATION WITH EXCEPTIONAL ACCESS TO THE FLORIDA TURNPIKE AND INTERSTATE 95

Exclusively Listed By

Financing By

Shopping Auto Center

Hypoluxo Auto Care

Listing Price: $4,300,000

Cap Rate
5.00%
Gross SF
7,983
Rentable SF
7,983
Price/Gross SF
$538.64
Lot Size
0.86 acres
Year Built
1998

Investment Highlights

  • CORPORATE-GUARANTOR, WITH PUBLICLY TRADED MONRO
  • ABSOLUTE-NET LEASES, TENANTS PAY FOUR-PERCENT MANAGEMENT FEE
  • UNDER-MARKET RENTS
  • NUMBER-ONE GROSSING JIFFY LUBE STORE IN THE DISTRICT
  • JIFFY LUBE FRANCHISE OPERATOR WITH OVER 100 STORES
  • CENTRAL PALM BEACH LOCATION WITH EXCEPTIONAL ACCESS TO THE FLORIDA TURNPIKE AND INTERSTATE 95

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer the rare opportunity to acquire Hypoluxo Auto Care (the "Property"), a one building, specialized auto care center on 0.86 acres in Palm Beach County. Constructed in 1998, the Property consists of approximately 8,000 square feet of rentable space, centrally located within the Boynton/Lantana submarket in Palm Beach County. The Property is currently 100-percent occupied with a strategic blend of automotive repair servicing tenants, Jiffy Lube and The Tire Choice, that have enjoyed tenancy at the Hypoluxo Auto Care center for an average of 17 years. Hypoluxo Auto Care benefits from being an outparcel to a Walmart-anchored shopping center and across the street from a brand-new Publix-anchored shopping center, that is currently under construction. Jiffy Lube has been a tenant in the center since the property was constructed and is the number one grossing store in the district. The Property is located on Hypoluxo Road, halfway between Interstate 95 and the Florida Turnpike, with close proximity and easy access to these two major highways. There has been a significant rise in demand for Palm Beach County auto care space, with positive absorption and decreasing vacancies creating strong market conditions to push the average rents even higher. Hypoluxo Auto Care offers a stabilized cash flow, with the opportunity of upside in the rents, once The Tire Choice exercises their final option.

Exclusively Listed By

Financing By

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