Jiffy Lube

20 Township Line Road, Havertown, PA 19083

$1,382,857

Cap Rate 7.00%

Views: 165 DOM: 243 Updated: 11.07.24 Posted: 04.22.24 Status: Active

Summary

Price $1,382,857	Built/Renov 1985	Tenant Jiffy Lube
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,566	Lease Start 07-01-2004	#Units 60
Price/SF $538.92	Expiration 06-30-2034	Tenant Type Automotive
NOI $96,800	R. Term 9.6	Ownership Fee Simple
Rent/SF $37.72	Increases 10.0%/5/yrs	Pop 5Mi 583,783
Lot/AC 0.36	Options 0/0yrs	AHHI 5Mi $105,290

Lease Highlights

Jiffy Lube has been operating in this location since 2004
The tenant has 9+ years remaining on the current lease term
The lease features 10% rental increases throughout the initial term
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Multi-Management, Inc. (60 units backed)

Location Description

Jiffy Lube is strategically located at the signalized, hard corner intersection of Township Line Road and Lansdowne Avenue, with access to a combined daily traffic count of 52,905 vehicles. Moreover, the property benefits from its close proximity, less than 100 feet away, to the signalized intersection of Township Line Road (Rte. 1) and West Chester Pike (Rte. 3), which witnesses 60,000 VPD....

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long operation history
Long 10+ yr lease
Accelerated depreciation
50+ unit franchisee backed

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Links

Jiffy Lube Wikipedia Jiffy Lube Wikipedia Havertown, Pennsylvania Zip Code 19083 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jiffy Lube
Guarantor:Franchisee
Company:Multi-Management, Inc.
# Units:60
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...

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 services including air-conditioning, fuel systems and transmission maintenance, batteries, brakes, and tire repair and replacement. The first Jiffy Lube store was established in Ogden, Utah in 1971. Over the following years, Washburn franchised several Jiffy Lube stores within Utah. In 2002, the company was acquired by Shell, from its former parent company, Pennzoil-Quaker State. As of 2023, Jiffy Lube had more than 2,000 franchised locations in North America independently owned, with over 20 million customers each year. Jiffy Lube is headquartered in Houston, TX.

Shell plc is a British multinational oil and gas company. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue (after ExxonMobil), and among the world's largest companies out of any industry. Shell has a primary listing on the London Stock Exchange (LSE: SHEL) and secondary listings on Euronext Amsterdam and the New York Stock Exchange (NYSE: SHEL). Since 2020 it has ranked within the top 10 of the Fortune Global 500. Shell has operations in over 99 countries, and over 44,000 service stations. As of December 31, 2023, Shell has a market cap of $214.73B and a reported revenue of $316.61B. The company is headquartered in London, England.

Based in York, Pennsylvania, and led by president Bob Falter, Multi-Management, Inc. operates 60 Jiffy Lubes as well as a top-five ranked Mighty Auto Parts franchise. They recently expanded by acquiring the license rights to distribute Mighty products in an adjacent territory. Their second franchise, Mighty of Eastern Pennsylvania, will now service the Greater Philadelphia area. In the past, the franchise was recognized as an outstanding franchisee, receiving the Harold Burney Memorial Award in recognition of their dedication to Jiffy Lube International.

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	24,365	228,428	582,466
2023 Total Population :	24,737	230,039	583,783
2023 Employed Civilian Pop :	13,174	117,659	281,743
2023 Total Businesses :	705	5,992	15,449
2023 Average Household Income :	$ 122,903	$ 115,371	$ 105,290
2023 Total Consumer Spending :	$ 941 M	$ 8654 M	$ 20621 M
2023 Median Age :	40	39	38
2023 Total Households :	9,078	87,845	227,166
2023 Pop Age 25+: Bachelor's Degree :	5,309	39,787	88,432
2023 Average Home Value :	$ 329,697	$ 347,197	$ 351,183

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Darby Rd	W Llandaff Rd	2017	19,067	0.02 mi
Darby Road	E Township Line Rd	2021	16,242	0.03 mi
Township Line Road	W Chester Pike	2019	13,444	0.03 mi
West Chester Pike	Llandaff Rd	2019	11,449	0.03 mi
West Chester Pike	Oakley Rd	2021	22,567	0.03 mi
W Chester Pike	Llandaff Rd	2017	22,126	0.03 mi
West Chester Pike	Llandaff Rd	2019	10,735	0.04 mi
E Township Line Rd	Darby Rd	2017	36,663	0.05 mi
Lansdowne Ave	Monroe Ave	2017	22,028	0.09 mi
N Harwood Ave	Bewley Rd	2011	189	0.21 mi

Listing Broker

Michael Shover

CBRE: NLPG Philadelphia

Contact

62 Listings
9867 Views
25 Sold

Matthew Gorman

CBRE: NLPG Philadelphia

Contact

62 Listings
9867 Views
25 Sold

Michael Shover

Michael Shover joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Shortly after, Michael was inducted into CBRE’s exclusive Net Lease Property Group, leading and specializing in the Mid-Atlantic area. The Net Lease Property Group comprises of a team of senior advisors located within major metropolitan areas throughout the United States who are dedicated to transacting single-tenant assets and net-l

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Matthew Gorman

Matthew Gorman joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Matthew and his team's primary goal is to execute for their clients at the highest level by representing their best interests professionally, honestly and with integrity in all aspects of the marketing and sales process. Shortly after joining CBRE, Matthew was inducted into the exclusive Net Lease Property Group, leading the Philadel

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