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Auto Service - Gas-Conv

Jiffy Lube

9736 S Dixie Hwy, Miami, FL 33156

Listing Price: $1,969,480

Cap Rate
5.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.0
Gross SF
3,069
Guarantor
Franchisee Guarantee
Rentable SF
3,069
Price/Gross SF
$641.73
Lease Type
Absolute Net
Rent Per Square Feet
$32.09

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 9736 South Dixie Highway in Miami, Florida. Jiffy Lube is the leading provider of automotive maintenance services in the country with more than 2,000 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 lease amendments with a ten year base term 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 lease will be backed by the strong corporate guarantee of Atlantic Coast Enterprises. ACE was founded in 2008, operates 64 Jiffy Lube locations with approximately $65 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 property is eligible for accelerated 15-year depreciation compared to the typical 39-year depreciation schedule for commercial properties. Jiffy Lube will lease the property 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 property, making the acquisition of this asset a truly passive investment. ACE plans to make post-closing improvements to the subject property that could include, imaging, signage, driveways, painting, and landscaping.

Jiffy Lube is located at 9736 South Dixie Highway in Miami, Florida. Jiffy Lube has approximately 100,143 individuals residing within a three mile radius and 293,626 individuals residing within a five mile radius. The subject property is located on South Dixie Highway which has an average daily traffic count of 91,500. Jiffy Lube lies just north of a signalized intersection which allows easy access to the property from the north bound side of South Dixie Highway. Jiffy Lube is located on the South Dixie Highway and which is a major south Florida traffic corridor. The property is well-positioned on a major road that directly links the southern portions of Miami-Dade county like Homestead and Naranja to downtown Miami and Brickell.

Investment Highlights

  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Strong Guarantor: Atlantic Coast Enterprises Operates 64 Stores with 750 Employees
  • Secure Revenue Stream Backed By an Established and Profitable Franchisee
  • Average Household Income Above $100k Within One Mile Radius
  • Property May Qualify for 15-Year Versus 39-Year Depreciation-Please Consult Your CPA
  • Prime Retail Location Servicing the Upscale Communities of South Miami and Pinecrest

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Jiffy Lube

Listing Price: $1,969,480

Cap Rate
5.00%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.0
Gross SF
3,069
Guarantor
Franchisee Guarantee
Rentable SF
3,069
Price/Gross SF
$641.73
Lease Type
Absolute Net
Rent Per Square Feet
$32.09

Investment Highlights

  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Strong Guarantor: Atlantic Coast Enterprises Operates 64 Stores with 750 Employees
  • Secure Revenue Stream Backed By an Established and Profitable Franchisee
  • Average Household Income Above $100k Within One Mile Radius
  • Property May Qualify for 15-Year Versus 39-Year Depreciation-Please Consult Your CPA
  • Prime Retail Location Servicing the Upscale Communities of South Miami and Pinecrest

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 9736 South Dixie Highway in Miami, Florida. Jiffy Lube is the leading provider of automotive maintenance services in the country with more than 2,000 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 lease amendments with a ten year base term 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 lease will be backed by the strong corporate guarantee of Atlantic Coast Enterprises. ACE was founded in 2008, operates 64 Jiffy Lube locations with approximately $65 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 property is eligible for accelerated 15-year depreciation compared to the typical 39-year depreciation schedule for commercial properties. Jiffy Lube will lease the property 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 property, making the acquisition of this asset a truly passive investment. ACE plans to make post-closing improvements to the subject property that could include, imaging, signage, driveways, painting, and landscaping.

Jiffy Lube is located at 9736 South Dixie Highway in Miami, Florida. Jiffy Lube has approximately 100,143 individuals residing within a three mile radius and 293,626 individuals residing within a five mile radius. The subject property is located on South Dixie Highway which has an average daily traffic count of 91,500. Jiffy Lube lies just north of a signalized intersection which allows easy access to the property from the north bound side of South Dixie Highway. Jiffy Lube is located on the South Dixie Highway and which is a major south Florida traffic corridor. The property is well-positioned on a major road that directly links the southern portions of Miami-Dade county like Homestead and Naranja to downtown Miami and Brickell.

Exclusively Listed By

Financing By

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