Jiffy Lube

4391 State Highway 24, Anderson, SC 29626

$2,716,000

Cap Rate 6.25%

Views: 59 DOM: 182 Updated: 04.12.24 Posted: 11.17.23 Status: Active

Summary

Price $2,716,000	Built/Renov 2023	Tenant Jiffy Lube
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,042	Lease Start 05-01-2024	#Units 2,169
Price/SF $671.94	Expiration 04-30-2039	Tenant Type Automotive
NOI $169,755	R. Term 14.11	Ownership Fee Simple
Rent/SF $42.00	Increases 10.0%/5/yrs	Pop 5Mi 31,455
Lot/AC 0.83	Options 5/5yrs/10%	AHHI 5Mi $80,045

Lease Highlights

Brand new 2023 construction
Jiffy lube recently signed a brand mew 15-year lease with 5 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This Jiffy Lube, equipped with 4 service bays, is strategically located off the signalized, hard corner intersection of State Highway 24 and State Highway 187 averaging a combined 21,500 vehicles per day. The property benefits from excellent visibility via a large pylon sign, and is surrounded by retailers such as Walgreens, Food Lion, Ingles Markets, Burger King, and more, promoting strong...

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Key Features

New construction
Hard corner intersection
Build to suit
Highway location
Affluent suburb location
Brand new lease
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Jiffy Lube Wikipedia Jiffy Lube Wikipedia Anderson, South Carolina Zip Code 29626 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jiffy Lube
Guarantor:Corp T and Rated
Company:Shell plc
# Units:2,169
Tenant S&P: AA-
Moody’s: Aa2
Stock: NYSE: SHEL

About Tenant

Jiffy Lube International, Inc., dba Jiffy Lube, is an automotive service chain offering oil changes and various other services. Besides oil changes, Jiffy Lube facilities offer a wide range of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,272	11,719	31,664
2023 Total Population :	2,270	11,639	31,138
2023 Employed Civilian Pop :	1,074	5,405	14,404
2023 Total Businesses :	90	217	884
2023 Average Household Income :	$ 82,458	$ 84,934	$ 80,651
2023 Total Consumer Spending :	$ 67 M	$ 348 M	$ 931 M
2023 Median Age :	43	45	44
2023 Total Households :	935	4,728	13,205
2023 Pop Age 25+: Bachelor's Degree :	159	1,104	3,277
2023 Average Home Value :	$ 287,278	$ 279,441	$ 270,843

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Highway 187	Westgate Rd	2021	4,500	0.08 mi
Old Portman Road	Westgate Rd	2022	4,800	0.16 mi
State Hwy 24	Persimmon Ln	2018	6,900	0.53 mi
Whitehall Rd	Pear Tree Ln	2018	4,800	0.55 mi
State Highway 187	Stoneham Dr	2021	7,800	0.72 mi
State Highway 187	Busby Rd	2022	6,900	0.72 mi
Harbin Drive	400	2022	750	0.85 mi
West Whitner Street	Old Portman Rd	2022	10,100	0.89 mi
Old Asbury Road	Edgewater Dr	2022	750	0.99 mi
State Highway 187	Wham Rd	2022	13,200	1.46 mi

Listing Broker

Britt Raymond

SRS National Net Lease Group

Contact

90 Listings
3938 Views
26 Sold

Kyle Fant

SRS National Net Lease Group

Contact

82 Listings
3744 Views
23 Sold

Britt Raymond

Britt Raymond is a Managing Director and Market Leader of New York Capital Market. Britt spearheads efforts to grow SRS’s presence across the northeast. She also advises owners of net lease assets and anchored shopping centers nationwide to buy, acquire, or finance. She also provides 1031 Tax Deferred Exchange advisory. She has closed over $2.75 billion in commercial real estate transactions in her career. Britt Raymond joined SRS in 2017 with eight years of commercial real estate experience. S

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Kyle Fant

Kyle joined SRS in 2017 along with his partner Britt Raymond to spearhead the New York City office for the National Net Lease Group and accelerate growth across the east coast. Kyle has over eight years of experience in investment sales of net lease retail, medical, and industrial properties across the country. Kyle spent the first three years of his career in Marcus & Millichap’s flagship Manhattan office where he was able to work and learn from some of the firm’s top transactional brokera

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