Auto Service - Gas-Conv

Jiffy Lube

12398 SW 8th St, Miami, FL 33184

Listing Price: $2,556,634

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,496
Guarantor
Franchisee Guarantee
Rentable SF
2,496
Price/Gross SF
$1,024.29
Lease Type
Absolute Net
Rent Per Square Feet
$53.78

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 12398 Southwest 8th Street 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 12398 Southwest 8th Street in Miami, Florida. Jiffy Lube has approximately 164,836 individuals residing within a three mile radius and 395,171 individuals residing within a five mile radius. The subject property is located on Southwest 8th Street which has an average daily traffic count of 53,500. Ronald Reagan Turnpike is located just east of the subject property and has an average daily traffic count of 169,500. Jiffy Lube is well-positioned in a dense retail corridor benefiting from its proximity to major national retailers and the Ronald Reagan Turnpike. Major retailers such as Burger King, McDonalds, Walgreens, CVS, Navarro Pharmacy, Fresco Y Mas are among the national brands in the vicinity of the subject property.

Investment Highlights

  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Florida Has No State Income Tax
  • Atlantic Coast Enterprises Operates 64 Stores in 3 States, with 750 Employees
  • Property May Qualify for 15-year Versus 39-Year Depreciation
  • Approximately 1.5 Miles from Florida International University
  • There are 395,171 People Residing Within Five Miles of the Property

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube

Listing Price: $2,556,634

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,496
Guarantor
Franchisee Guarantee
Rentable SF
2,496
Price/Gross SF
$1,024.29
Lease Type
Absolute Net
Rent Per Square Feet
$53.78

Investment Highlights

  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Florida Has No State Income Tax
  • Atlantic Coast Enterprises Operates 64 Stores in 3 States, with 750 Employees
  • Property May Qualify for 15-year Versus 39-Year Depreciation
  • Approximately 1.5 Miles from Florida International University
  • There are 395,171 People Residing Within Five Miles of the Property

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 12398 Southwest 8th Street 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 12398 Southwest 8th Street in Miami, Florida. Jiffy Lube has approximately 164,836 individuals residing within a three mile radius and 395,171 individuals residing within a five mile radius. The subject property is located on Southwest 8th Street which has an average daily traffic count of 53,500. Ronald Reagan Turnpike is located just east of the subject property and has an average daily traffic count of 169,500. Jiffy Lube is well-positioned in a dense retail corridor benefiting from its proximity to major national retailers and the Ronald Reagan Turnpike. Major retailers such as Burger King, McDonalds, Walgreens, CVS, Navarro Pharmacy, Fresco Y Mas are among the national brands in the vicinity of the subject property.

Exclusively Listed By

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