Auto Service - Gas-Conv

Jiffy Lube Jacksonville Beach - Early Renewal

1672 South 3 Street, Jacksonville Beach, FL 32250

Listing Price: $1,943,631

Cap Rate
6.50%
Tenant Name
Jiffy Lube
Years Remaining On Lease
9.30
Gross SF
2,068
Guarantor
Franchisee Guarantee
Rentable SF
2,068
Price/Gross SF
$939.86
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.09

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, net leased, Jiffy Lube in Jacksonville Beach, Florida. The auto service building contains a net rentable area of 2,068 square feet, situated on 0.28 acres. The property, built in 1987, is in very good condition and has good curb appeal.It is well situated on the west side of Highway A1A, the main north-south arterial serving the eastern portion of Jacksonville Beach. The site has direct access from the south-bound lane of Highway A1A. This heavily-trafficked thoroughfare has a traffic count of over 40,000 vehicles per day in the immediate vicinity.

Jiffy Lube is well located near retail draw tenants such as Whole Foods, Home Goods, Chipotle, Panera Bread, CVS, Marshalls, Pet Smart and many more. It is also found less than a quarter-mile of Jacksonville Beachs high density multi-family development, resorts and entertainment district. This area is roughly 15 miles east of downtown Jacksonville.

The lease has a primary term that extends through December 31, 2029 and contains three, five-year options with 7.5 percent increases during base term and options. This investment opportunity has minimal landlord responsibility.
The lease is corporately guaranteed by Team Car Care, LLC (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
  • Strong Demographics with Household Income of $113,174 Within 5 Mile Radius
  • Long Term Lease with More Than 9.5 Years Remaining
  • Highly Visible A1A Location-Traffic Counts in Excess of 41,000 Vehicles per Day
  • Largest Jiffy Lube Operator with More Than 550 Locations Coast to Coast

Exclusively Listed By

Auto Service - Gas-Conv

Jiffy Lube Jacksonville Beach - Early Renewal

Listing Price: $1,943,631

Cap Rate
6.50%
Tenant Name
Jiffy Lube
Years Remaining On Lease
9.30
Gross SF
2,068
Guarantor
Franchisee Guarantee
Rentable SF
2,068
Price/Gross SF
$939.86
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.09

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
  • Strong Demographics with Household Income of $113,174 Within 5 Mile Radius
  • Long Term Lease with More Than 9.5 Years Remaining
  • Highly Visible A1A Location-Traffic Counts in Excess of 41,000 Vehicles per Day
  • Largest Jiffy Lube Operator with More Than 550 Locations Coast to Coast

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a freestanding, net leased, Jiffy Lube in Jacksonville Beach, Florida. The auto service building contains a net rentable area of 2,068 square feet, situated on 0.28 acres. The property, built in 1987, is in very good condition and has good curb appeal.It is well situated on the west side of Highway A1A, the main north-south arterial serving the eastern portion of Jacksonville Beach. The site has direct access from the south-bound lane of Highway A1A. This heavily-trafficked thoroughfare has a traffic count of over 40,000 vehicles per day in the immediate vicinity.

Jiffy Lube is well located near retail draw tenants such as Whole Foods, Home Goods, Chipotle, Panera Bread, CVS, Marshalls, Pet Smart and many more. It is also found less than a quarter-mile of Jacksonville Beachs high density multi-family development, resorts and entertainment district. This area is roughly 15 miles east of downtown Jacksonville.

The lease has a primary term that extends through December 31, 2029 and contains three, five-year options with 7.5 percent increases during base term and options. This investment opportunity has minimal landlord responsibility.
The lease is corporately guaranteed by Team Car Care, LLC (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

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