exclusive net-leased offering · 2019-06-10 · jiffy lube portfolio exclusive net-leased offering...
TRANSCRIPT
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.
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.