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Jiffy Lube

8787 Biscayne Blvd, Miami Shores, FL 33138

Listing Price: $2,785,180

Cap Rate
5.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
12.3
Gross SF
1,999
Guarantor
Corporate Guarantee
Rentable SF
1,999
Price/Gross SF
$1,393.29
Lease Type
Absolute Net
Rent Per Square Feet
$69.66

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a corporately guaranteed Jiffy Lube located at 8787 Biscayne Blvd, Miami Shores, FL. The property contains 1,999 square feet of net leasable area and is situated on 12,197 SF of land. The subject property faces Biscayne Boulevard, with a traffic count exceeding 40,000 vehicles passing daily. Jiffy Lube has over 12 years of guaranteed lease term remaining, and two 10-year options to extend.

Miami Shores Village is an upscale suburban village in Miami-Dade County, Florida with a population of approximately 11,000. There are 170,000+ people within a 3-mile radius of the property. The property is in the North-Central region of the county, in-between Downtown & North Miami, as well as midway between Hialeah and Miami Beach. It can be easily accessed by I-95, SR 924, and Biscayne Boulevard. Developed in the 1920s as one of Miami’s original neighborhoods, Miami Shores boasts vistas of Biscayne Bay, quaint churches, tranquil parks and wide, tree-lined streets.

Jiffy Lube International, Inc, doing business as Jiffy Lube, provides vehicle maintenance services. The company offers oil change, air conditioning evacuation and recharge, engine air filtration, cooling, transmission, and electrical and fuel system cleaning services. Jiffy Lube is a subsidiary of Royal Dutch Shell and is headquartered in Houston, TX.

Investment Highlights

  • Corporate Guarantee from JLI – 2000+ Jiffy Lube Units Nationwide
  • 3.5% Annual Rent Increases – Providing Hedge Against Inflation
  • 12+ Years Remaining On Lease Term
  • Jiffy Lube has Been in Business Here for Over 36 Years & Recently Signed a 10-Year Extension
  • Dense Infill Population – 20,000+ People in One-Mile Radius
  • Two 10 Year Options Provide Landlord with Value Through the Term
  • NNN Lease – Zero Landlord Responsibilities
  • Strong Visibility – Located on Biscayne Boulevard – 40,000+ Vehicles Per Day

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube

Listing Price: $2,785,180

Cap Rate
5.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
12.3
Gross SF
1,999
Guarantor
Corporate Guarantee
Rentable SF
1,999
Price/Gross SF
$1,393.29
Lease Type
Absolute Net
Rent Per Square Feet
$69.66

Investment Highlights

  • Corporate Guarantee from JLI – 2000+ Jiffy Lube Units Nationwide
  • 3.5% Annual Rent Increases – Providing Hedge Against Inflation
  • 12+ Years Remaining On Lease Term
  • Jiffy Lube has Been in Business Here for Over 36 Years & Recently Signed a 10-Year Extension
  • Dense Infill Population – 20,000+ People in One-Mile Radius
  • Two 10 Year Options Provide Landlord with Value Through the Term
  • NNN Lease – Zero Landlord Responsibilities
  • Strong Visibility – Located on Biscayne Boulevard – 40,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a corporately guaranteed Jiffy Lube located at 8787 Biscayne Blvd, Miami Shores, FL. The property contains 1,999 square feet of net leasable area and is situated on 12,197 SF of land. The subject property faces Biscayne Boulevard, with a traffic count exceeding 40,000 vehicles passing daily. Jiffy Lube has over 12 years of guaranteed lease term remaining, and two 10-year options to extend. Miami Shores Village is an upscale suburban village in Miami-Dade County, Florida with a population of approximately 11,000. There are 170,000+ people within a 3-mile radius of the property. The property is in the North-Central region of the county, in-between Downtown & North Miami, as well as midway between Hialeah and Miami Beach. It can be easily accessed by I-95, SR 924, and Biscayne Boulevard. Developed in the 1920s as one of Miami’s original neighborhoods, Miami Shores boasts vistas of Biscayne Bay, quaint churches, tranquil parks and wide, tree-lined streets. Jiffy Lube International, Inc, doing business as Jiffy Lube, provides vehicle maintenance services. The company offers oil change, air conditioning evacuation and recharge, engine air filtration, cooling, transmission, and electrical and fuel system cleaning services. Jiffy Lube is a subsidiary of Royal Dutch Shell and is headquartered in Houston, TX.

Exclusively Listed By

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