Auto Service - Gas-Conv

Jiffy Lube

1950 N State Road 7, Lauderdale Lakes, FL 33313

Listing Price: $1,565,770

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,363
Guarantor
Franchisee Guarantee
Rentable SF
2,363
Price/Gross SF
$662.62
Lease Type
Absolute Net
Rent Per Square Feet
$34.79

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 1950 North State Road 7 in Lauderdale Lakes, 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 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 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.

Jiffy Lube is located at 1950 North State Road 7 in Lauderdale Lakes, Florida. Jiffy Lube has approximately 188,507 individuals residing within a three mile radius and 474,914 individuals residing within a five mile radius. The subject property is located on North State Road 7 which has an average daily traffic count of 54,500. Northwest 19th Street is located just south of the subject property and has an average daily traffic count of 30,000. Jiffy Lube lies just north of a signalized intersection which allows easy access to the property from the south bound side of North State Road 7. Jiffy Lube is located on North State Road 7 which is a
major south Florida used car dealership corridor. Major car dealerships in the area include DriveTime, Phil Smith Chevrolet, Enterprise Car Sales 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
  • There are 474,507 People Residing Within Five Miles of the Property
  • Located just South of a Signalized Intersection with Exposure to 84,500 VPD

Exclusively Listed By

Listing Price: $1,565,770

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,363
Guarantor
Franchisee Guarantee
Rentable SF
2,363
Price/Gross SF
$662.62
Lease Type
Absolute Net
Rent Per Square Feet
$34.79

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
  • There are 474,507 People Residing Within Five Miles of the Property
  • Located just South of a Signalized Intersection with Exposure to 84,500 VPD

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 1950 North State Road 7 in Lauderdale Lakes, 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 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 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.

Jiffy Lube is located at 1950 North State Road 7 in Lauderdale Lakes, Florida. Jiffy Lube has approximately 188,507 individuals residing within a three mile radius and 474,914 individuals residing within a five mile radius. The subject property is located on North State Road 7 which has an average daily traffic count of 54,500. Northwest 19th Street is located just south of the subject property and has an average daily traffic count of 30,000. Jiffy Lube lies just north of a signalized intersection which allows easy access to the property from the south bound side of North State Road 7. Jiffy Lube is located on North State Road 7 which is a
major south Florida used car dealership corridor. Major car dealerships in the area include DriveTime, Phil Smith Chevrolet, Enterprise Car Sales are among the national brands in the vicinity of the subject property.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower