Auto Service - Gas-Conv

Jiffy Lube

Listing Price: $1,803,196

Cap Rate
5.50%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
1,200
Guarantor
Franchisee Guarantee
Rentable SF
1,200
Price/Gross SF
$1,502.66
Lease Type
Absolute Net
Rent Per Square Feet
$82.65

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 130 South Dale Mabry Highway in Tampa, 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 more than $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. Each property will be leased 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 portfolio 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 has approximately 95,371 individuals located within a three mile radius and 221,390 within a five mile radius. The subject property is located on South Dale Mabry Highway which has an average daily traffic count of 44,000. Approximately 0.75 north of the subject lies Interstate-275 which has an average daily traffic count of 198,500. Interstate-275 is used as the main connection between Hillsborough and Pinellas Counties. Interstate-275 through its connection to Interstate-4 also connects the Tampa metropolitan area to Orlando. Also just north of the subject is Kennedy Boulevard. Kennedy Boulevard is an east and west artery that is used by people in the eastern suburbs and Pinellas County to drive directly into downtown Tampa. Jiffy Lube is well-positioned in a dense retail corridor benefiting from its proximity to Interstate-275 and national and local retailers. Major retailers such as Starbucks, CVS, Mattress Firm, Pizza Hut, LA Fitness are among the national brands in the vicinity of the subject property.

Investment Highlights

  • Florida Has No State Income Tax
  • Atlantic Coast Enterprises Operates 64 Stores in Three States, with 750 Employees
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • Property May Qualify for 15-year Versus 39-Year Depreciation
  • Approximately 0.75 Miles from Interstate-275 On/Off Ramps
  • Average Household Income Exceeds $81,000 within Five Miles

Exclusively Listed By

Listing Price: $1,803,196

Cap Rate
5.50%
Tenant Name
Jiffy Lube
Years Remaining On Lease
10.00
Gross SF
1,200
Guarantor
Franchisee Guarantee
Rentable SF
1,200
Price/Gross SF
$1,502.66
Lease Type
Absolute Net
Rent Per Square Feet
$82.65

Investment Highlights

  • Florida Has No State Income Tax
  • Atlantic Coast Enterprises Operates 64 Stores in Three States, with 750 Employees
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • Property May Qualify for 15-year Versus 39-Year Depreciation
  • Approximately 0.75 Miles from Interstate-275 On/Off Ramps
  • Average Household Income Exceeds $81,000 within Five Miles

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 130 South Dale Mabry Highway in Tampa, 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 more than $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. Each property will be leased 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 portfolio 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 has approximately 95,371 individuals located within a three mile radius and 221,390 within a five mile radius. The subject property is located on South Dale Mabry Highway which has an average daily traffic count of 44,000. Approximately 0.75 north of the subject lies Interstate-275 which has an average daily traffic count of 198,500. Interstate-275 is used as the main connection between Hillsborough and Pinellas Counties. Interstate-275 through its connection to Interstate-4 also connects the Tampa metropolitan area to Orlando. Also just north of the subject is Kennedy Boulevard. Kennedy Boulevard is an east and west artery that is used by people in the eastern suburbs and Pinellas County to drive directly into downtown Tampa. Jiffy Lube is well-positioned in a dense retail corridor benefiting from its proximity to Interstate-275 and national and local retailers. Major retailers such as Starbucks, CVS, Mattress Firm, Pizza Hut, LA Fitness are among the national brands in the vicinity of the subject property.

Exclusively Listed By

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