Skip to main content

Shopping Strip

Jiffy Lube & Tire Kingdom

26990 S Dixie Hwy, Homestead, FL 33032

Listing Price: $4,039,954

Cap Rate
5.25%
Gross SF
7,929
Rentable SF
7,929
Price/Gross SF
$509.52
Lot Size
0.75 acres
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube and Tire Kingdom located at 26990 South Dixie Highway in Naranja, Florida. The subject is a multi-tenant net leased property located in Miami. 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 ten year base term upon closing. 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 vs. 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. Tire Kingdom currently has been in operation for over 30 years showing a strong commitment to the location. There are 2.66 years left on the original lease with one six-year option remaining. The lease is corporately guaranteed by Tire Kingdom. Tire Kingdom has a double-net (NN) lease, with minimal landlord responsibilities.

Jiffy Lube is located at 26990 South Dixie Highway in Naranja, Florida. Jiffy Lube has approximately 83,016 individuals residing within a three mile radius and 173,777 individuals residing within a five mile radius. The subject property is located on South Dixie Highway which has an average daily traffic count of 46,000. Jiffy Lube is located on South Dixie Highway which is a major south Florida traffic corridor. South Dixie Avenue is a major road that directly links Homestead and other southern portions of Miami-Dade county with downtown Miami.

Investment Highlights

  • Two-Tenant Asset with Jiffy Lube & Tire Kingdom
  • This Property is a Jiffy Lube Multi-Care Site
  • Tire Kingdom Corporate Guarantee 700+ Locations
  • Strong Guarantor: Atlantic Coast Enterprises Operates 64 Stores with 750 Employees
  • Tire Kingdom Has Occupied Site Since 1988
  • Population of 92,000+ Within Three-Mile Radius
  • Estimated 12% Population Growth Rate from 2017 to 2022

Exclusively Listed By

Shopping Strip

Jiffy Lube & Tire Kingdom

Listing Price: $4,039,954

Cap Rate
5.25%
Gross SF
7,929
Rentable SF
7,929
Price/Gross SF
$509.52
Lot Size
0.75 acres
Year Built
1988

Investment Highlights

  • Two-Tenant Asset with Jiffy Lube & Tire Kingdom
  • This Property is a Jiffy Lube Multi-Care Site
  • Tire Kingdom Corporate Guarantee 700+ Locations
  • Strong Guarantor: Atlantic Coast Enterprises Operates 64 Stores with 750 Employees
  • Tire Kingdom Has Occupied Site Since 1988
  • Population of 92,000+ Within Three-Mile Radius
  • Estimated 12% Population Growth Rate from 2017 to 2022

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube and Tire Kingdom located at 26990 South Dixie Highway in Naranja, Florida. The subject is a multi-tenant net leased property located in Miami. 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 ten year base term upon closing. 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 vs. 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. Tire Kingdom currently has been in operation for over 30 years showing a strong commitment to the location. There are 2.66 years left on the original lease with one six-year option remaining. The lease is corporately guaranteed by Tire Kingdom. Tire Kingdom has a double-net (NN) lease, with minimal landlord responsibilities.

Jiffy Lube is located at 26990 South Dixie Highway in Naranja, Florida. Jiffy Lube has approximately 83,016 individuals residing within a three mile radius and 173,777 individuals residing within a five mile radius. The subject property is located on South Dixie Highway which has an average daily traffic count of 46,000. Jiffy Lube is located on South Dixie Highway which is a major south Florida traffic corridor. South Dixie Avenue is a major road that directly links Homestead and other southern portions of Miami-Dade county with downtown Miami.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower