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Jiffy Lube - Centerville, UT

300 W Parrish Ln, Centerville, UT 84014

Listing Price: $1,734,333

Cap Rate
6.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
5.2
Gross SF
2,750
Guarantor
No Guarantee
Rentable SF
2,750
Price/Gross SF
$630.67
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Overview

Marcus & Millichap presents for sale the Jiffy Lube in Centerville, Utah. This property is approximately 2,750 square feet and sits on 0.39 acres of land on Parrish Lane. The location of the property is among the central retail hub in Centerville, Parrish Lane being the main thoroughfare for the city. This Jiffy Lube property is one among three neighboring properties currently being sold in Centerville.

The lease for the Jiffy Lube is an absolute net lease with about five years remaining on the original lease term. There are three, five-year options available to the tenant, with 10% rent increases every five years. One of those rent increases is June of 2024, upon which the cap rate and other numbers are based.

Centerville, Utah is a growing community less than 15 miles north of Downtown Salt Lake City. The Interstate 15 freeway exit in Centerville is Parrish Lane, which has a large retail corridor. Parrish Lane has a traffic count of over 18,000 vehicles per day.

Investment Highlights

  • Absolute Net Lease with about Five Years Remaining and Three, Five-Year Options
  • 6.00% Cap Rate Based on June 2024 Rent Rate
  • 10% Rent Increases Every Five Years
  • Located on Parrish Lane in the Central Retail Hub of Centerville
  • Daily Traffic Counts on Parrish Lane are Over 18,000 VPD
  • Centerville is Less Than 15 Miles North of Downtown Salt Lake City

Exclusively Listed By

Auto Parts

Jiffy Lube - Centerville, UT

Listing Price: $1,734,333

Cap Rate
6.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
5.2
Gross SF
2,750
Guarantor
No Guarantee
Rentable SF
2,750
Price/Gross SF
$630.67
Lease Type
Absolute Net
Rent Per Square Feet
$34.40

Investment Highlights

  • Absolute Net Lease with about Five Years Remaining and Three, Five-Year Options
  • 6.00% Cap Rate Based on June 2024 Rent Rate
  • 10% Rent Increases Every Five Years
  • Located on Parrish Lane in the Central Retail Hub of Centerville
  • Daily Traffic Counts on Parrish Lane are Over 18,000 VPD
  • Centerville is Less Than 15 Miles North of Downtown Salt Lake City

Investment Overview

Marcus & Millichap presents for sale the Jiffy Lube in Centerville, Utah. This property is approximately 2,750 square feet and sits on 0.39 acres of land on Parrish Lane. The location of the property is among the central retail hub in Centerville, Parrish Lane being the main thoroughfare for the city. This Jiffy Lube property is one among three neighboring properties currently being sold in Centerville. The lease for the Jiffy Lube is an absolute net lease with about five years remaining on the original lease term. There are three, five-year options available to the tenant, with 10% rent increases every five years. One of those rent increases is June of 2024, upon which the cap rate and other numbers are based. Centerville, Utah is a growing community less than 15 miles north of Downtown Salt Lake City. The Interstate 15 freeway exit in Centerville is Parrish Lane, which has a large retail corridor. Parrish Lane has a traffic count of over 18,000 vehicles per day.

Exclusively Listed By

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