Auto Service - Gas-Conv

Jiffy Lube

326 W Indiantown Rd, Jupiter, FL 33458

Listing Price: $2,024,343

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
3,596
Guarantor
Franchisee Guarantee
Rentable SF
3,596
Price/Gross SF
$562.94
Lease Type
Absolute Net
Rent Per Square Feet
$29.55

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 324 West Indiantown Road in Jupiter, 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 324 West Indiantown Road in Jupiter, Florida. This Jiffy Lube property benefits from very strong demographics. There are 99,378 people residing within five miles of the property with an above average household income of $117,192. The property is located on West Indiantown Road which has a strong daily traffic count of 41,000. Old Dixie Highway is located just east of the subject property and has an average daily traffic count of 35,000. The properties positioning on West Indiantown Road gives it optimal exposure to a major retail corridor in Jupiter. Located a few miles down the road is a premier shopping complex called Harborside Place, that has luxury shops, dining, hotels, movie theaters and boating marina. One of the largest boat ramps is located west of the property that services Jupiters Intracoastal waterways.

Investment Highlights

  • 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
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Average Household Income Within Five Miles of the Property is $117,192
  • Located on a West Indiantown Road with Exposure to 41,000 Vehicles Per Day

Exclusively Listed By

Listing Price: $2,024,343

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
3,596
Guarantor
Franchisee Guarantee
Rentable SF
3,596
Price/Gross SF
$562.94
Lease Type
Absolute Net
Rent Per Square Feet
$29.55

Investment Highlights

  • 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
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • This Service Center is a Jiffy Lube Multi-Care Site
  • Average Household Income Within Five Miles of the Property is $117,192
  • Located on a West Indiantown Road with Exposure to 41,000 Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 324 West Indiantown Road in Jupiter, 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 324 West Indiantown Road in Jupiter, Florida. This Jiffy Lube property benefits from very strong demographics. There are 99,378 people residing within five miles of the property with an above average household income of $117,192. The property is located on West Indiantown Road which has a strong daily traffic count of 41,000. Old Dixie Highway is located just east of the subject property and has an average daily traffic count of 35,000. The properties positioning on West Indiantown Road gives it optimal exposure to a major retail corridor in Jupiter. Located a few miles down the road is a premier shopping complex called Harborside Place, that has luxury shops, dining, hotels, movie theaters and boating marina. One of the largest boat ramps is located west of the property that services Jupiters Intracoastal waterways.

Exclusively Listed By

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