Jiffy Lube - Pullman, WA
12+ Years | 2% Annual Increases | College Town
Marketing description
Rare opportunity to acquire a Jiffy Lube in the heart of Pullman, Washington — home to Washington State University and one of the most resilient college-town economies in the Pacific Northwest. Listed at $1,250,000 at a 6.75% cap rate, this investment offers immediate, passive income with zero landlord responsibilities.
The property features a long-term lease running through December 2038, with 2% annual rent bumps throughout the base term providing a built-in inflation hedge.
Operated by a multi-unit Jiffy Lube franchisee, the tenant brings national brand strength with local operational commitment. Quick-lube services are inherently recession-resistant and e-commerce-proof, delivering consistent, repeat demand regardless of economic conditions.
The property sits on a strategic 0.65-acre corner parcel along SE Bishop Boulevard — Pullman's primary commercial corridor — directly across from a Walmart Supercenter and adjacent to Pullman Regional Hospital, which recently completed a $41 million expansion. Surrounding neighbors include Chipotle, Starbucks, Safeway, Anytime Fitness, and more, generating strong daily traffic counts and exceptional visibility.
With 72% of Pullman workers commuting by car, a growing population base of 33,000+, and WSU's 25,000+ students and 6,000+ employees driving sustained local demand, this location is built for long-term performance.
Investment highlights
- Listed at $1,250,000 yielding a 6.75% cap rate.
- Long-Term Lease of 12+ Years provides strong security of income and demonstrates the tenant's commitment to the location.
- Annual Rent Increases of 2% provide a hedge against inflation.
- Abs. NNN Lease offers a passive ownership structure for any investor.
- Ecommerce & Recession-Proof Investment – Quick lube is an essential, in-person automotive service not replicable online and historically resilient across economic cycles.
- Tax Benefits – Auto service properties may be eligible for an accelerated depreciation schedule. **Consult your tax or accounting professional for more information.
- Strategic Corner Parcel — Situated on approximately 0.65 acres (28,087 SF) with dedicated on-site parking and strong visibility along SE Bishop Boulevard, a primary commercial corridor in Pullman, Washington.
- Income Tax-Free State of Washington.
- Jiffy Lube is the National Leader in Quick Lube - A leading provider of oil changes and a subsidiary of Shell Oil Company, Jiffy Lube boasts more than 2,100 outlets throughout North America that are all independently owned by operators.
- Located in Pullman, home to Washington State University, one of the largest universities in the Pacific Northwest, supporting a stable regional economy driven by education, healthcare, and local commerce.
- Strong Retail Synergy - across the street from Walmart Supercenter, providing heavier car and foot traffic volume.
- Located next to Pullman Regional Hospital - recent $41 million emergency and laboratory expansion project in 2026.
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