Jiffy Lube - Angola, IN
Large Operator | Annual Increases | 11+ years Remaining
Marketing description
Matthews™ is pleased to present its latest Jiffy Lube listing located at 640 N Wayne St in Angola, IN 46703. This property is listed at $1,771,000, offering a 6.75% cap rate. With a recent early lease extension demonstrating long-term commitment from the tenant, Allied Lube (70+) — one of the nation's largest Jiffy Lube operators with over 30 years of operating experience — this investment also features approximately 1.3% annual rent increases to provide scheduled income growth throughout the lease term. The location benefits from a stable Midwestern market anchored by Trine University and supported by a diverse mix of manufacturing, education, and healthcare employers, driving consistent demand for essential automotive services. The lease is absolute NNN with zero landlord responsibilities. With traffic volume of approximately 16,500 vehicles per day on N Wayne St, the property enjoys strong visibility along one of Angola's primary retail corridors, while the Jiffy Lube Multicare® format offers a broader range of automotive services beyond oil changes to attract a wider customer base.
Tax Benefits – Auto service properties may be eligible for an accelerated depreciation schedule. Consult your tax or accounting professional for more information.
Investment highlights
- Offered at $1,771,000, reflecting a 6.75% cap rate.
- Absolute NNN lease structure with zero landlord responsibilities, providing passive ownership.
- 11+ Years of remaining lease term, offering income security. The tenant recently executed an early lease extension, underscoring its commitment to the site.
- Approximately 1.3% Annual Rent Increases provide scheduled income growth and a measure of inflation protection throughout the lease term.
- Allied Lube, one of the nation's largest Jiffy Lube operators with 70+ locations and 30+ years of operating experience, provides established tenant strength and income reliability.
- Essential Automotive Service use that cannot be replicated online, with the quick-lube sector historically demonstrating resilience across economic cycles.
- Potential Tax Benefits may be available, as auto service properties may qualify for accelerated depreciation. Investors should consult their tax or accounting professional for guidance.
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