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Corporate Jiffy Lube 1023 Main St 4,205 SF Retail Building Billings, MT 59105 $2,388,000 ($567.90/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 10 years remaining on corporate lease
- Building equipped with 4-bays (Multicare facility)
- Absolute NNN lease with 10% fixed rent increases every 5 years
- Monumental sign provides tenant with excellent street visibility
EXECUTIVE SUMMARY
Unique opportunity to acquire a corporate backed Jiffy Lube facility located in Billings, Montana. Newly constructed in 2015, there are 10 years remaining on the absolute NNN lease that calls for 10% fixed rent increases every 5 years. The facility was designed with 4-bays so it could be a Multi-Care facility offering more than just oil changes.
Jiffy Lube has over 2,100 locations throughout North America. Jiffy Lube is a subsidiary of Shell USA (NYSE:SHEL) that has a market cap of $221 billion.
Billings is the largest city in Montana with a reported 121,483 residents. Average Household Income of $91,461 reported within a 3-mile radius of the subject property.
Jiffy Lube has over 2,100 locations throughout North America. Jiffy Lube is a subsidiary of Shell USA (NYSE:SHEL) that has a market cap of $221 billion.
Billings is the largest city in Montana with a reported 121,483 residents. Average Household Income of $91,461 reported within a 3-mile radius of the subject property.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,205 SF
Building Class
C
Year Built
2015
Price
$2,388,000
Price Per SF
$567.90
Cap Rate
5.75%
NOI
$137,334
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.69 AC
Zoning
HC
Parking
12 Spaces (2.85 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03-1033-22-4-13-33-0000 | Improvements Assessment | $513,759 |
| Land Assessment | $592,641 | Total Assessment | $1,106,400 |
PROPERTY TAXES
Parcel Number
03-1033-22-4-13-33-0000
Land Assessment
$592,641
Improvements Assessment
$513,759
Total Assessment
$1,106,400
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Corporate Jiffy Lube | 1023 Main St
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