EXCLUSIVE NET-LEASED OFFERING · 2019-06-10 · JIFFY LUBE PORTFOLIO EXCLUSIVE NET-LEASED OFFERING...

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EXCLUSIVE NET-LEASED OFFERING JIFFY LUBE PORTFOLIO- Tampa, FL & Vicinity OFFERING SUMMARY $10,332,545 $568,288 5.50% Price Net Operating Income Capitalization Rate LEASE SUMMARY Lease Type Lease Commencement Lease Expiration Absolute Net COE 10 Years after COE Lease Term Remaining 10 EXCLUSIVELY LISTED BY: Scott C. Sandelin First Vice President Investments Senior Director, National Retail Group Tel: (786) 522-7009 License: FL SL636794 [email protected] www.marcusmillichap.com/ScottSandelin Edward Romo Associate Tel: (786) 522-7000 License: FL SL3273970 [email protected] www.marcusmillichap.com/EdwardRomo THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0391058 Property ID: 4717325) Properties are available individually as well as a portfolio.

Transcript of EXCLUSIVE NET-LEASED OFFERING · 2019-06-10 · JIFFY LUBE PORTFOLIO EXCLUSIVE NET-LEASED OFFERING...

Page 1: EXCLUSIVE NET-LEASED OFFERING · 2019-06-10 · JIFFY LUBE PORTFOLIO EXCLUSIVE NET-LEASED OFFERING INVESTMENT HIGHLIGHTS §Sale-Leaseback with 10-Year Triple-Net Lease Term Upon Closing

EXCLUSIVE NET-LEASED OFFERING

JIFFY LUBE PORTFOLIO- Tampa, FL & Vicinity

OFFERING SUMMARY

$10,332,545$568,2885.50%

PriceNet Operating Income Capitalization Rate

LEASE SUMMARY

Lease Type

Lease Commencement

Lease Expiration

Absolute Net

COE

10 Years after COE

Lease Term Remaining 10

EXCLUSIVELY LISTED BY:

Scott C. SandelinFirst Vice President InvestmentsSenior Director, National Retail GroupTel: (786) 522-7009License: FL SL636794scott.sandelin@marcusmillichap.comwww.marcusmillichap.com/ScottSandelin

Edward RomoAssociateTel: (786) 522-7000License: FL [email protected] www.marcusmillichap.com/EdwardRomo

THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0391058 Property ID: 4717325)

Properties are available individually as well as a portfolio.

Page 2: EXCLUSIVE NET-LEASED OFFERING · 2019-06-10 · JIFFY LUBE PORTFOLIO EXCLUSIVE NET-LEASED OFFERING INVESTMENT HIGHLIGHTS §Sale-Leaseback with 10-Year Triple-Net Lease Term Upon Closing

EXCLUSIVE NET-LEASED OFFERINGJIFFY LUBE PORTFOLIO

INVESTMENT HIGHLIGHTS

§ Sale-Leaseback with 10-Year Triple-Net Lease Term Upon Closing

§ Jiffy Lube is a Strong and Well Recognized National Automotive Services

Industry Brand

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Strong Guarantor: Atlantic Coast Enterprises Operates 62 Stores in 3 States,with 750 Employees

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This Portfolio Investment Offers a Secure Revenue Stream Backed By an

Established and Profitable Franchisee

Florida Has No State Income Tax

THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0391058 Property ID: 4717325)

Marcus & Millichap is pleased to offer for sale a portfolio of six strong performing Jiffy Lube stores in prime locations within the greater Tampa Bay MSA. Jiffy Lube is the leading provider of automotive maintenance services in the country with more than 2000 locations nationwide. Jiffy Lube offers a range of services from oil changes to tire rotations and more. The tenant, Atlantic Coast Enterprises (ACE), is one of the largest and most experienced Jiffy Lube franchisees in the US. ACE will execute lease addendums upon closing to establish 10-year terms with scheduled rent increases. The acquisition of this portfolio offers the investor a secure stream of passive income which is guaranteed by one of the largest, most experienced and profitable Jiffy Lube franchisees in the country. The leases will be backed by the strong corporate guarantee of Atlantic Coast Enterprises. ACE was founded in 2008, operates 62 Jiffy Lube locations with more than $65 million in annual sales and over 750 employees. The investor is further secured by the fee simple ownership of the real estate as well as the opportunity to enhance cash flow by depreciating the property improvements.