jiffy lube – texas city, texas
TRANSCRIPT
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
SUBJECT PROPERTY
JIFFY LUBE – Texas City, Texas
ACTUAL PROPERTY
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
Table of Contents
Investment Summary
Investment Overview
Lease Abstract
Aerial Photo
Location Map
Competition Map
Tenant Profile
Area Profile
Confidentiality Agreement
Presented By:
MATT MOAKE, CCIM
713.275.6715 | [email protected]
DAVID GORHAM
713.275.6716 | [email protected]
HighStreet Net Lease Group believes the information contained herein to be reliable. However, we make no guarantees, representations, or warranties of any kind, expressed or implied regarding this information; including, but not limited to content, accuracy, and reliability. Investors should consult a tax and legal advisor, as well as verify all information prior to the investment.
JIFFY LUBE – Texas City, Texas
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
OFFERING SUMMARY
PRICE $1,231,000
COST/ BUILDING SF $635
COST/ LOT SF $50
NOI $80,079
CAP RATE 6.50%
PROPERTY SUMMARY
ADDRESS 3314 Palmer Highway
Texas City, Texas 77590
COUNTY Galveston
BUILDING AREA 1,936 SF
LAND AREA 24,375 SF (0.56 acres)
BUILT 1987
RENT ROLL
TENANT NAME
SIZE MONTHLY RENT LEASE TERMSQUARE
FOOTAGE% OF
PROPERTYMONTHLY
RENT BASE $ / SF % OF TOTALINCREASE
DATESRENTAL
INCREASE LEASE BEGIN LEASE END OPTIONS
Allied Lube Texas, LP 1,936 100% $6,673.31 $41.36 100% 10/1/20(Every 5 Years) 7.73% 10/1/05 9/30/2025 (4) x 5 year
OCCUPIED SF 1,936 100% $6,673.31 $41.36 100%
VACANT SF 0 0.00% 0 0 0.00%
TOTAL / WTD AVG 1,936 100% $6,673.31 $41.36 100%
JIFFY LUBE – Texas City, TexasInvestment Summary
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
• Allied Lube is one of the largest Jiffy Lube operators in
the U.S., with over 112 locations.
• Established store with strong sales. Year to date
revenues through June 2017 are on pace to be 32%
higher than 2016 sales, a massive increase in business
stemming from growth in the area.
• Absolute net lease with zero Landlord responsibilities.
• Primary retail corridor of Texas City, surrounded by HEB,
Kroger, Lowe’s, and numerous other national tenants.
• Approximately 8 years remaining on the primary lease
term, with Four additional 5 year renewal options.
• Next 7.73% rent bump to occur 10/1/20, and during
each 5 year renewal option period.
• Texas City is part of the Houston/The Woodlands/Sugar
Land metro area and is located approximately 35
minutes southeast of downtown Houston.
• Property is on 0.56 acre parcel with ample parking and
convenient ingress/egress.
DEMOGRAPHICS 1 - MILE 3 - MILE 5 - MILE
POPULATION ESTIMATE 8,841 44,369 64,215
AVERAGE H.H. INCOME $57,431 $60,874 $63,787
JIFFY LUBE – Texas City, TexasInvestment Overview
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
LEASE SUMMARYLEASE TERM 8 Years Remaining
TENANT Allied Lube Texas, LP
PREMISES 1,936 SF building on approximately 0.56acres of land. Parcel #442600080304005
LEASE COMMENCEMENT October 1, 2005
LEASE EXPIRATION September 30, 2025
RENEWAL OPTIONS (4) x 5 year
INCREASE DATES 7.73% on 10/1/2020; every 5 years
LEASE TYPE Absolute Net
INSURANCE Paid by Tenant
PARKING LOT MAINTENANCE
Paid by Tenant
PROPERTY TAXES Paid by Tenant
ROOF & STRUCTURE Paid by Tenant
UTILITIES Paid by Tenant
ESTIMATED OPERATING INFORMATIONINCOME
GROSS POTENTIAL RENT$80,079
EXPENSE REIMBURSEMENTNNN
EFFECTIVE GROSS INCOME$80,079
LESS EXPENSESNNN
NET OPERATING INCOME$80,079
JIFFY LUBE – Texas City, TexasLease Abstract
JIFFY LUBE – Texas City, TexasAerial Photo
JIFFY LUBE – Texas City, TexasLocation Map
SITE
JIFFY LUBE – Texas City, TexasCompetition Map
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
Jiffy Lube was founded in 1971 in Utah. The company has grown to include over 2,300 locations across the United States. Jiffy Lube specializes in a multitude of automotive maintenance services, including: signature service oil change, A/C, battery replacement, brakes, drivetrain, engine, fuel system, emissions and inspections, tires, transmission, and windshield. More than 20 million customers trust Jiffy Lube each year, and the company motto is to help you Leave Worry Behind. Jiffy Lube is headquartered in Houston, Texas and is a wholly owned indirect subsidiary of Shell Oil Company. Each location is 100% franchise-owned, so despite being a national corporation, most stores are locally operated by honest people living in the community.
The Tenant: Allied Lube was founded in 1992 and is the 3rd largest Jiffy Lube franchisee in the nation. They operate over 112 stores throughout Texas, California, and Colorado. Allied Lube is a privately held company based in Irvine, California.
JIFFY LUBE – Texas City, TexasTenant Profile
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
Houston is the most populous city in Texas with more than 2.2 million people, and the 4th largest city in the United States, behind only New York, Los Angeles, and Chicago. Houston is home to the corporate headquarters of 24 Fortune 500 companies, which is the 3rd most of any metro area in the U.S. Houston is recognized worldwide for its energy industry, which has helped the city top rankings for job creation in recent years, but the economy of the city has become widely diversified amongst healthcare, manufacturing, aeronautics, transportation, finance, information technology, and trade. The Port of Houston is the top ranked port in the U.S. for international tonnage and is the largest container port along the entire Gulf Coast, making it a major economic driver for Houston and the surrounding region.
Houston is the most diverse city in Texas and has been described as the most diverse city in the U.S., thanks to a large and growing international community. The Museum District is home to a multitude of cultural institutions which attract over 8 million visitors annually.
Even with the adjustment in oil prices starting in late 2014, the Houston metro area added more jobs from July 2014 to July 2015 than any other metro area in America. The Houston population has grown by nearly 740,000 people since 2010, and projections indicate that Houston will overtake Chicago as the 3rd largest city in the U.S. within the next decade.
Texas City is located approximately 35 minutes southeast of downtown Houston and is part of the Houston/The Woodlands/Sugar Land metro area. It sits on the southwest shoreline of Galveston Bay, which makes the area a busy deepwater port on Texas’ gulf coast leading into the Houston Ship Channel. The economy is driven by petroleum refining and petrochemical manufacturing. Originally founded in 1893, Texas City has seen tremendous growth along with the Houston MSA throughout its history. Palmer Highway is the primary east/west corridor running from Houston to the Texas City Dike, which extends 5 miles into Galveston Bay and is famous for being the “world’s longest man-made fishing pier.”
JIFFY LUBE – Texas City, TexasArea Profile
5851 San FelipeSuite 220Houston, TX 77057
Phone | 713-275-6777Toll Free | 877-445-0555
Fax | 713-275-6714
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from HighStreet Net Lease Group and should not bemade available to any other person or entity without the written consent of HighStreet Net Lease Group.
This Marketing Brochure has been prepared to provide summary, unverified information to prospectivepurchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation, and makes nowarranty or representation, with respect to the income or expenses for the subject property, the future projectedfinancial performance of the property, the size and square footage of the property and improvements, thepresence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federalregulations, the physical condition of the improvements thereon, or the financial condition or business prospectsof any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;however, HighStreet Net Lease Group has not verified, and will not verify, any of the information containedherein, nor has HighStreet Net Lease Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.
JIFFY LUBE – Texas City, TexasConfidentiality Agreement
