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Views: 149 DOM: 796 Updated: 10.21.24 Posted: 09.19.22 Status: Active

Summary

Price $3,450,000
Built/Renov 2006
Tenant Jiffy Lube
Cap Rate 5.22%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,079
Lease Start 06-01-2022
#Units 19
Price/SF $1,659.45
Expiration 06-30-2042
Tenant Type Automotive
NOI $180,000
R. Term 17.7
Ownership Fee Simple
Rent/SF $86.58
Increases 5.0%/5/yrs
Pop 5Mi 101,710
Lot/AC 0.63
Options 2/5yrs/5%
AHHI 5Mi $163,716

Lease Highlights

  • Jiffy Lube has been committed to the location since 2006
  • The tenant has approximately 17+ years remaining on their current lease term with 2 (5-year) options to extend
  • The lease features 5% rental increases at the beginning of each option period
  • STC Management LLC., currently operates 19 locations throughout Northern Virginia & Suburban Maryland, and has plans to open more

Location Description

Jiffy Lube, the subject property is well positioned in the main retail cohort of Gainesville, along Route 29 with clear visibility and access to more than 68,000 vehicles per day. It is located diagonally to Virginia Gateway Shopping Center (1.3M SF), which boasts a selection of over 120 retail shops, restaurants, and service-oriented businesses and sees more than 8.2M visitors annually. Other...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 9,388 56,433 108,426
2022 Total Population : 9,005 54,432 105,439
2022 Employed Civilian Pop : 4,831 26,635 51,857
2022 Total Businesses : 656 1,552 2,619
2022 Average Household Income : $ 161,324 $ 183,041 $ 181,796
2022 Total Consumer Spending : $ 418 M $ 2660 M $ 5166 M
2022 Median Age : 38 37 36
2022 Total Households : 3,060 17,351 33,921
2022 Pop Age 25+: Bachelor's Degree : 2,172 12,736 22,989
2022 Average Home Value : $ 489,535 $ 555,310 $ 552,117
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Gallerher Rd Gainesville Village Sq 2005 22,000 0.21 mi
Lee Hwy Linton Hall Rd 2016 47,000 0.22 mi
Virginia Oaks Dr Vinewood Ct 2009 2,300 0.23 mi
Old Linton Hall Rd Huron Dr 2013 1,700 0.23 mi
Whitney Rd Linton Hall Rd 2013 3,500 0.30 mi
Virginia Oaks Dr Royal Sydney Dr 2009 2,300 0.36 mi
John Marshall Hwy Lee Hwy 2016 11,000 0.38 mi
John Marshall Hwy Lee Hwy 2016 11,000 0.47 mi
Lee Hwy 2018 11,000 0.47 mi
Lee Hwy John Marshall Hwy 2016 11,000 0.48 mi

Listing Broker

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