Auto Service - Gas-Conv

Jiffy Lube Jacksonville - Early Renewal

13560 Atlantic Boulevard, Jacksonville, FL 32207

Listing Price: $1,301,354

Cap Rate
6.50%
Tenant Name
Team Car Care
Years Remaining On Lease
8.9
Gross SF
1,543
Guarantor
Franchisee Guarantee
Rentable SF
1,543
Price/Gross SF
$843.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.82

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, net leased, Jiffy Lube in Jacksonville, Florida. The automotive and auto service building contains a rentable area of 1,543 square feet, situated on 0.68 acres. The somewhat irregular, but generally L-Shaped parcel has primary frontage along busy Atlantic Boulevard. There is secondary frontage from Bamboo Drive along the rear property line, The property, built in 1991, is in very good condition and has good curb appeal.
The lease has a primary term that extends through 2029 and contains three, five-year options with 7.5 percent rental increases base term and options. This NNN investment opportunity has minimal landlord responsibility. The lease is corporately guaranteed by Team Car Care (dba Jiffy Lube), headquartered in Irving, Texas.
Operating more than 550 Jiffy Lube locations from coast to coast, and serving nearly 5 million customers annually, Team Car Care employs more than 5,000 service advisors committed to quality service. Team Car Care is the largest franchisee company in the Jiffy Lube network.

Investment Highlights

  • Early Lease Renewal Showing Strong Tenant Commitment to Site
  • Scheduled Rent Increases of 7.5% Every Five Years During Base and Option Terms
  • Long Term Lease with Approximately 9 Years Remaining
  • Largest Jiffy Lube Operator with More than 550 Locations Coast to Coast
  • Strong Demographics with Average Household Income of $96,031 Within 5 Mile Radius
  • Highly Visible Atlantic Boulevard Location-46,000 Vehicles Daily Traffic Count

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube Jacksonville - Early Renewal

Listing Price: $1,301,354

Cap Rate
6.50%
Tenant Name
Team Car Care
Years Remaining On Lease
8.9
Gross SF
1,543
Guarantor
Franchisee Guarantee
Rentable SF
1,543
Price/Gross SF
$843.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.82

Investment Highlights

  • Early Lease Renewal Showing Strong Tenant Commitment to Site
  • Scheduled Rent Increases of 7.5% Every Five Years During Base and Option Terms
  • Long Term Lease with Approximately 9 Years Remaining
  • Largest Jiffy Lube Operator with More than 550 Locations Coast to Coast
  • Strong Demographics with Average Household Income of $96,031 Within 5 Mile Radius
  • Highly Visible Atlantic Boulevard Location-46,000 Vehicles Daily Traffic Count

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, net leased, Jiffy Lube in Jacksonville, Florida. The automotive and auto service building contains a rentable area of 1,543 square feet, situated on 0.68 acres. The somewhat irregular, but generally L-Shaped parcel has primary frontage along busy Atlantic Boulevard. There is secondary frontage from Bamboo Drive along the rear property line, The property, built in 1991, is in very good condition and has good curb appeal.
The lease has a primary term that extends through 2029 and contains three, five-year options with 7.5 percent rental increases base term and options. This NNN investment opportunity has minimal landlord responsibility. The lease is corporately guaranteed by Team Car Care (dba Jiffy Lube), headquartered in Irving, Texas.
Operating more than 550 Jiffy Lube locations from coast to coast, and serving nearly 5 million customers annually, Team Car Care employs more than 5,000 service advisors committed to quality service. Team Car Care is the largest franchisee company in the Jiffy Lube network.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower