Auto Service - Gas-Conv

Jiffy Lube

4000 S Military Trl, Lake Worth, FL 33463

Listing Price: $2,340,604

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,150
Guarantor
Franchisee Guarantee
Rentable SF
2,150
Price/Gross SF
$1,088.65
Lease Type
Absolute Net
Rent Per Square Feet
$57.15

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 4000 South Military Trail in Lake Worth, 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 4000 South Military Trail in Lake Worth, Florida. Jiffy Lube has approximately 164,256 individuals located within a three mile radius and 340,699 individuals located within a five mile radius. The subject property is located on the southeast corner of South Military Trail and Lake Worth Road. South Military Trail and Lake Worth Road are both heavily traveled roads with a combined exposure of 82,500 vehicles per day. Jiffy Lube lies just on a signalized intersection which allows easy access to the property from the west bound side of Lake Worth Road. Jiffy Lube is located on the South Military Trail and Lake Worth Road which is a major south Florida retail corridor. The property is well-positioned on a hard corner where cars stopped at a red light have an opportunity to see 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
  • Great Location on a Signalized Intersection with Exposure to 82,500 Vehicles Per Day
  • There are 340,699 People Residing Within Five Miles of the Property

Exclusively Listed By

Listing Price: $2,340,604

Cap Rate
5.25%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
2,150
Guarantor
Franchisee Guarantee
Rentable SF
2,150
Price/Gross SF
$1,088.65
Lease Type
Absolute Net
Rent Per Square Feet
$57.15

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
  • Great Location on a Signalized Intersection with Exposure to 82,500 Vehicles Per Day
  • There are 340,699 People Residing Within Five Miles of the Property

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 4000 South Military Trail in Lake Worth, 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 4000 South Military Trail in Lake Worth, Florida. Jiffy Lube has approximately 164,256 individuals located within a three mile radius and 340,699 individuals located within a five mile radius. The subject property is located on the southeast corner of South Military Trail and Lake Worth Road. South Military Trail and Lake Worth Road are both heavily traveled roads with a combined exposure of 82,500 vehicles per day. Jiffy Lube lies just on a signalized intersection which allows easy access to the property from the west bound side of Lake Worth Road. Jiffy Lube is located on the South Military Trail and Lake Worth Road which is a major south Florida retail corridor. The property is well-positioned on a hard corner where cars stopped at a red light have an opportunity to see the subject property.

Exclusively Listed By

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