Auto Service - Gas-Conv

Jiffy Lube

1551 Hwy 17 N, North Myrtle Beach, SC 29582

Listing Price: $2,132,564

Cap Rate
5.50%
Tenant Name
ACE
Years Remaining On Lease
10.0
Gross SF
2,200
Guarantor
Franchisee Guarantee
Rentable SF
2,200
Price/Gross SF
$969.35
Lease Type
Absolute Net
Rent Per Square Feet
$53.31

Investment Overview

Marcus & Millichap is pleased to offer for sale a strong performing Jiffy Lube store in South Carolina. Jiffy Lube is the leading provider of automotive maintenance services in the country with more than 2000 locations nationwide. Jiffy Lube offers a range of services from oil changes to tire rotations and more. The tenant, Atlantic Coast Enterprises (ACE), is one of the largest and most experienced Jiffy Lube franchisees in the US. ACE will execute new, long-term NNN leases featuring scheduled rent increases, upon closing.

The acquisition of this property offers the investor a secure stream of passive income which is guaranteed by one of the largest, most experienced and profitable Jiffy Lube franchisees in the country. The leases will be backed by the strong corporate guarantee of Atlantic Coast Enterprises. ACE was founded in 2008, operates 62 Jiffy Lube locations with more than $64 million in annual sales and over 750 employees. The investor is further secured by the fee simple ownership of the real estate as well as the opportunity to enhance cash flow by depreciating the property improvements. *It is possible that the subject properties are eligible for accelerated 15-year depreciation vs. the typical 39-year depreciation schedule for commercial properties.

The property will be leased on an absolute net basis, with the tenant fully responsible for all sales and property taxes, general liability and property insurance costs, and all property maintenance expenses associated with owning and operating the properties, making the acquisition of this property a truly passive investment.

Investment Highlights

  • Dual Ingress and Egress from Two Major Roads
  • Sale-Leaseback with a New 10-Year Triple-Net Lease Term Upon Closing
  • Atlantic Coast Enterprises Operates 62 Stores in 3 States, with 750 employees
  • Property May Qualify for 15-year Versus 39-Year Depreciation

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

Listing Price: $2,132,564

Cap Rate
5.50%
Tenant Name
ACE
Years Remaining On Lease
10.0
Gross SF
2,200
Guarantor
Franchisee Guarantee
Rentable SF
2,200
Price/Gross SF
$969.35
Lease Type
Absolute Net
Rent Per Square Feet
$53.31

Investment Highlights

  • Dual Ingress and Egress from Two Major Roads
  • Sale-Leaseback with a New 10-Year Triple-Net Lease Term Upon Closing
  • Atlantic Coast Enterprises Operates 62 Stores in 3 States, with 750 employees
  • Property May Qualify for 15-year Versus 39-Year Depreciation

Investment Overview

Marcus & Millichap is pleased to offer for sale a strong performing Jiffy Lube store in South Carolina. Jiffy Lube is the leading provider of automotive maintenance services in the country with more than 2000 locations nationwide. Jiffy Lube offers a range of services from oil changes to tire rotations and more. The tenant, Atlantic Coast Enterprises (ACE), is one of the largest and most experienced Jiffy Lube franchisees in the US. ACE will execute new, long-term NNN leases featuring scheduled rent increases, upon closing.

The acquisition of this property offers the investor a secure stream of passive income which is guaranteed by one of the largest, most experienced and profitable Jiffy Lube franchisees in the country. The leases will be backed by the strong corporate guarantee of Atlantic Coast Enterprises. ACE was founded in 2008, operates 62 Jiffy Lube locations with more than $64 million in annual sales and over 750 employees. The investor is further secured by the fee simple ownership of the real estate as well as the opportunity to enhance cash flow by depreciating the property improvements. *It is possible that the subject properties are eligible for accelerated 15-year depreciation vs. the typical 39-year depreciation schedule for commercial properties.

The property will be leased on an absolute net basis, with the tenant fully responsible for all sales and property taxes, general liability and property insurance costs, and all property maintenance expenses associated with owning and operating the properties, making the acquisition of this property a truly passive investment.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

MM Texture Background
MM Textured Background Lower