Auto Service - Gas-Conv

Jiffy Lube - Hillsborough County

Listing Price: $1,194,158

Cap Rate
5.50%
Tenant Name
Team Car Care, LLC
Years Remaining On Lease
10.00
Gross SF
3,634
Guarantor
Franchisee Guarantee
Rentable SF
3,634
Price/Gross SF
$328.61
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.07

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 1802 South Parsons Avenue in Seffner, Hillsborough County, 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. 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.

Investment Highlights

  • Atlantic Coast Enterprises Operates 64 Stores in Three States, with 750 Employees
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • Florida Has No State Income Tax
  • This Property is a Jiffy Lube Multi-Care Site
  • Property May Qualify for 15-year Versus 39-Year Depreciation

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube - Hillsborough County

Listing Price: $1,194,158

Cap Rate
5.50%
Tenant Name
Team Car Care, LLC
Years Remaining On Lease
10.00
Gross SF
3,634
Guarantor
Franchisee Guarantee
Rentable SF
3,634
Price/Gross SF
$328.61
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.07

Investment Highlights

  • Atlantic Coast Enterprises Operates 64 Stores in Three States, with 750 Employees
  • Sale-Leaseback with Ten Year Triple-Net Lease Term Upon Closing
  • Florida Has No State Income Tax
  • This Property is a Jiffy Lube Multi-Care Site
  • Property May Qualify for 15-year Versus 39-Year Depreciation

Investment Overview

Marcus & Millichap is pleased to offer for sale Jiffy Lube located at 1802 South Parsons Avenue in Seffner, Hillsborough County, 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. 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.

Exclusively Listed By

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