Jiffy Lube
Retail | 5.22% CAP | 2,079 SF
Marketing description
We are pleased to offer to qualified investors an opportunity to purchase (fee simple) a single tenant absolute NNN lease Jiffy Lube asset located in Gainesville, VA with 20 lease years remaining. Operating at this location since 2006, Jiffy Lube recently signed a new 20-year lease in May of 2022, demonstrating the strength of this location. The lease also provides 5% increases every 5 years and includes (2), five-year option periods.
The subject property is well positioned in the main retail cohort of Gainesville; located diagonally to Virginia Gateway Shopping Center, which boasts a selection of over 120 retail shops, restaurants, and service-oriented businesses. Major retailers include Super Target, Best Buy, Hobby Lobby, Lowe’s, PetSmart, HomeGoods and many others. The property also benefits from its proximity to Jiffy Lube Live (Live Nation). Jiffy Lube Live is an outdoor live performance amphitheater for music concerts seating 25,262, making it the largest music-oriented venue in the Washington Metropolitan Area. This is an excellent opportunity to purchase an absolute NNN single tenant Jiffy Lube asset, located in the main retail trade cohort, with a 20-year lease and zero landlord management responsibilities.
Investment highlights
New Sale/Leaseback- New 20 Year Absolute NNN Lease – Single Tenant Jiffy Lube - Gainesville, VA
Recently Extended Absolute NNN Jiffy Lube in Major Retail Corridor- Tremendous Balance Sheet
Top Jiffy Lube Franchisee- STC Management LLC (19+ Locations and Growing) throughout Northern Virginia – Suburban Maryland with plans for many more
Strong Sales surpassing Pre-COVID Levels- Jiffy Lube has been Committed Since 2006. Location did over $2.5 million in gross sales and over 20,750 cars for 2021. YTD 2022 this location is up 16% in sales over 2021 same time period, with projected gross sales of $3 million this year
5% Rent Bumps every 5 Years- 20 Years Remaining on Base Term with 2-5 Year Option Periods
Located Along Route 29 which boasts over 68,000 VPD
RARE Washington DC MSA Asset- near Virginia Gateway Shopping Center (Super Target, Best Buy, Hobby Lobby, Lowe’s PetSmart, Home Goods). Second most trafficked in all of Virginia, seeing over 8.2M annual visitors
Some of the Best Demographics in U.S.- 5 Mile Population: 101,710- 5 Mile AHHI: $163,716+
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