Listed by Matthews
$774,000
Jiffy Lube - Yakima, WA
Details
Property Type Retail
Sub Type Gas Station, Auto Shop
Square Footage 2,315
Units 15
Cap Rate 7.50%
NOI $58,080
Occupancy 100%
Tenancy Single
Brand/Tenant Jiffy Lube, Take 5 Oil Change
Lease Type NN+
Lease Term 10
Lease Expiration 12/31/2032
Remaining Term 6.4
Rent Bumps No
Lease Options One, 10-Year
Price per SqFt $334
Year Built 1983
Buildings 1
Stories 1
Acreage 0.300
Parking Spaces 13 spaces
Parking per 1,000 SqFt 5.62
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 01/01/2023
Ground Lease No
Ownership Fee Simple
Sale Condition For sale by owner
7.50% CAP | 80+ UNIT OPERATOR | INCOME TAX-FREE STATE
Marketing description
Matthews™ is pleased to present an automotive investment opportunity, Jiffy Lube, located in the Yakima, WA. The property is operated by Lube Management, a large multi-unit franchisee within the Jiffy Lube system with 80+ locations.
Jiffy Lube, a subsidiary of Monomoy Capital Partners, is one of the most recognized brands in the quick-service automotive industry. Investors may also benefit from potential accelerated depreciation opportunities commonly associated with quick-lube properties (buyers should consult their tax professional for details).
Investment highlights
- Listed for $774,000 yielding a cap rate of 7.50%.
- Proven Location and Large Operator - longstanding quick lube location operated by one of the largest Jiffy Lube franchisees in the nation (Lube Management, 80+).
- ±6.70 Years Remaining provides stronger security of income.
- Cheaper Rent - current rent is well-below Jiffy Lube national average which improves profitability and the tenant's probability of renewal.
- Income Tax Free State of Washington.
- Tax Benefits - Auto service properties may be eligible for an accelerated depreciation schedule **Consult your tax or accounting professional for more information.
- Ecommerce & Recession-Proof Investment - Quick lube sector is not heavily affected by changes in the economy.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$58,080.00
$4,840.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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