Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net ground leased Jiffy Lube (The “Property”) located in Columbus, OH. The Property is located at the signalized hard corner of Morse Rd and Northtown Blvd with direct access and visibility to more than 35,000 Vehicles Per Day. Jiffy Lube has been operating at this location under a corporate lease since 1987, and just executed a new 10-year renewal in 2025. The Absolute Net Ground Lease provides the landlord with zero expenses and consistently increasing cash flows due to the annual rent increases. The Property is situated directly in front of a fully-occupied retail power center, and is located within the ultra-dense northern Columbus suburbs. There are more than 140,000 people living within a 3-mile radius, and 338,000 residents in a 5-mile radius granting a dense permanent client base. This Jiffy Lube location is operated by Premium Velocity Auto, a directly owned Jiffy Lube International subsidiary that franchises 360 units, and offers a corporate guarantee. The Property has more than 35 years of operating history at this location, and continues to do extremely well with the tenant executing a new 10-year renewal and requesting two additional 5-year extension options. Jiffy Lube is a wholly owned subsidiary of Shell USA, (NYSE: SHEL), the second largest oil and gas company in the world. Jiffy Lube has more than 2,000 locations across the United States, and consistently ranks among the top Franchise 500, including the #1 in 2022. Jiffy Lube services more than 27,000,000 customers each year. The Property is offered free and clear of debt at a 5.75% cap rate totaling $1,800,000.