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Auto Service - Gas-Conv

Jiffy Lube Cathedral City

68815 Ramon Rd, Cathedral City, CA 92234

Listing Price: $2,040,431

Cap Rate
4.75%
Tenant Name
Jiffy Lube
Years Remaining On Lease
6.1
Gross SF
2,800
Guarantor
National Franchisor
Rentable SF
2,800
Price/Gross SF
$728.73
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.65

Investment Overview

Marcus & Millichap is pleased to present a Southern California NNN fee-simple Jiffy Lube opportunity on the high traffic corridor of Ramon Road in the City of Cathedral City, California. 68815 Ramon Road presents investors with a NNN fee-simple lease guaranteed by an experienced 520+ Unit franchisee TEAM CAR CARE, LLC. The “essential use” operator has over six years remaining on their initial 20 year term and a recently exercised five year extension with favorable two percent annual increases through the term and options. The site benefits from its hard corner location on Ramon Road that sees over 36,000 cars per day on the substantial retail corridor that has the two largest shopping centers in the vicinity. The site is located near Cathedral City Auto Center which is located three miles away from the subject property with 12 dealers offering 18 different brands of cars. The location benefits from a captive population of over 114,180 people and average household income of over $91,000 in a five-mile radius. Other surrounding tenants include Stater Bros Markets, Cardenas Markets, CVS, Rite Aid, Harbor Freight Tools, Bank of America, Wells Fargo, McDonalds, Burger King, Carl’s Jr, Taco Bell, Del Taco, KFC, Panda Express, Dominos, Little Caesars, Starbucks, O’Reilly Auto Parts, Pep Boys, and AutoZone.

Investment Highlights

  • Over Six years Remaining on Modified NNN – Fee Simple Lease with minimal Landlord Responsibilities
  • Essential Use – Pandemic & Recession Resistant
  • Attractive Two Percent Annual Increases – Healthy Hedge Against Inflation
  • Strong 520+ Unit National Operator with TEAM CAR CARE, LLC
  • Excellent 1031 Exchange Property – Low Price Point
  • Hard Corner Location with over 36,000 Cars Per Day with Excellent Visibility
  • Prominent Retail Corridor – Large National Credit/Tenant Presence
  • Strong Affluent Population of 114,180 People in Five-Mile Trade Area with an Average Household Income of $91,000

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube Cathedral City

Listing Price: $2,040,431

Cap Rate
4.75%
Tenant Name
Jiffy Lube
Years Remaining On Lease
6.1
Gross SF
2,800
Guarantor
National Franchisor
Rentable SF
2,800
Price/Gross SF
$728.73
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.65

Investment Highlights

  • Over Six years Remaining on Modified NNN – Fee Simple Lease with minimal Landlord Responsibilities
  • Essential Use – Pandemic & Recession Resistant
  • Attractive Two Percent Annual Increases – Healthy Hedge Against Inflation
  • Strong 520+ Unit National Operator with TEAM CAR CARE, LLC
  • Excellent 1031 Exchange Property – Low Price Point
  • Hard Corner Location with over 36,000 Cars Per Day with Excellent Visibility
  • Prominent Retail Corridor – Large National Credit/Tenant Presence
  • Strong Affluent Population of 114,180 People in Five-Mile Trade Area with an Average Household Income of $91,000

Investment Overview

Marcus & Millichap is pleased to present a Southern California NNN fee-simple Jiffy Lube opportunity on the high traffic corridor of Ramon Road in the City of Cathedral City, California. 68815 Ramon Road presents investors with a NNN fee-simple lease guaranteed by an experienced 520+ Unit franchisee TEAM CAR CARE, LLC. The “essential use” operator has over six years remaining on their initial 20 year term and a recently exercised five year extension with favorable two percent annual increases through the term and options. The site benefits from its hard corner location on Ramon Road that sees over 36,000 cars per day on the substantial retail corridor that has the two largest shopping centers in the vicinity. The site is located near Cathedral City Auto Center which is located three miles away from the subject property with 12 dealers offering 18 different brands of cars. The location benefits from a captive population of over 114,180 people and average household income of over $91,000 in a five-mile radius. Other surrounding tenants include Stater Bros Markets, Cardenas Markets, CVS, Rite Aid, Harbor Freight Tools, Bank of America, Wells Fargo, McDonalds, Burger King, Carl’s Jr, Taco Bell, Del Taco, KFC, Panda Express, Dominos, Little Caesars, Starbucks, O’Reilly Auto Parts, Pep Boys, and AutoZone.

Exclusively Listed By

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