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Views: 76 DOM: 153 Updated: 10.25.24 Posted: 06.15.24 Status: Active

Summary

Price $1,742,000
Built/Renov 1982
Tenant Jiffy Lube
Cap Rate 6.67%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,670
Lease Start 10-28-2011
#Units 50
Price/SF $1,043.11
Expiration 10-27-2026
Tenant Type Automotive
NOI $116,160
R. Term 1.11
Ownership Fee Simple
Rent/SF $69.56
Increases 10.0%/2/yrs
Pop 5Mi 425,420
Lot/AC 0.27
Options 3/5yrs/10%
AHHI 5Mi $94,353

Lease Highlights

  • Jiffy Lube has 2+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Phoenix Lubrication Services, Inc. (50 units backed)

Location Description

Jiffy Lube is strategically located at the signalized, hard corner intersection of South Country Club Drive and West Baseline Road, with access to a substantial combined daily traffic count of 84,595 vehicles. The property is adjacent to Highway 60/Superstition Highway and surrounded by well-known Costco, Walmart Supercenter, The Home Depot, WinCo, Fry’s, 7-Eleven, and more. The 5-mile trade...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jiffy Lube
  • Guarantor:Franchisee
  • Company:Phoenix Lubrication Services, Inc.
  • # Units:50
  • Tenant S&P: A+
  • 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
2029 Total Population : 14,002 158,319 437,576
2024 Total Population : 13,990 154,016 429,628
2024 Employed Civilian Pop : 8,153 86,445 239,008
2024 Total Businesses : 815 7,172 15,376
2024 Average Household Income : $ 92,983 $ 92,143 $ 100,280
2024 Total Consumer Spending : $ 490 M $ 4910 M $ 14866 M
2024 Median Age : 34 34 35
2024 Total Households : 5,914 60,067 168,047
2024 Pop Age 25+: Bachelor's Degree : 2,001 22,016 67,875
2024 Average Home Value : $ 548,992 $ 460,069 $ 485,555
*ESRI data is presented for informational purposes only

Listing Broker

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