Jiffy Lube

Independence, MO

Price $1,280,000
Cap Rate 7.50%
TYPE Single-Tenant
STATUS Available
Tenant Jiffy Lube
LEASE TYPE Absolute NNN
SQUARE FEET 4,073
PRICE/SQ FT $314
YEAR BUILT 2004
LEASE EXP. 2024
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Jiffy Lube has 6+ years remaining on an initial 20 year Absolute NNN lease with 10% rental escalations every 5 years in four 5-year options. The tenant, Heartland Automotive Services, is the largest Jiffy Lube franchisee in the US operating over 540 locations in 26 states!

The subject property is located in Independence, Missouri, with high drive-by visibility on US Hwy 40 just off the hard corner. Jiffy Lube is 1 mile from Silverstein Eye Centers Arena, a 5,800-seat multi-purpose arena currently hosting the home games of the Kansas City Mavericks & Kansas City Comets, and also hosting more than 100 events including trade shows, professional sporting events, festivals and more. Jiffy Lube is also just 2 miles from Centerpoint Medical Center. Nearby retailers include Costco Wholesale, Lowe’s Home Improvement, Bass Pro Shops, Walmart, Sam’s Club, Target, JCPenney, Kohl’s, Best Buy, Ross Dress for Less, Marshalls, Independence Mall (anchored by Dillard’s, Macy’s, Dick’s Sporting Goods & Sears), Cost Plus World Market & Bed Bath & Beyond.

Property Highlights

  • 6+ Years Remaining on Initial 20 Year Absolute NNN Lease with 10% Rental Escalations Every 5 Years in Four 5-Year Options
  • Uniquely Positioned on US Hwy 40 (Main East/West Thoroughfare) just off the Hard Corner where Traffic Counts Exceed 29,880 CPD!
  • Tenant: Heartland Automotive Services is the LARGEST Jiffy Lube Franchisee in the US & Operates 540+ Jiffy Lube Locations in 26 States!
  • STRONG Demographics – Total Population: 119,321 | Average Household Income: $91,828 | Population Growth 2010-2017: 9.11%