1850 W 4100 S
Salt Lake City, UT 84119
Jiffy Lube - Absolute NNN · Retail Property For Sale

Situated as part of a shopping center scheduled for a major redevelopment in the later half of 2017, Jiffy Lube is an absolute NNN single tenant investment with approximately 7 years remaining with no options remaining, presenting a unique upside opportunity. At the end of the fixed term in 2023, the owner will have the opportunity to renegotiate a new lease with Jiffy Lube, leading to a strong upside opportunity, especially when considering the forthcoming redevelopment of the entire shopping center. Finally, the lease includes a percentage rent clause of 5% of gross revenues above Annual Rent. It is also important to note that there is a Lessor Right of Termination, providing an Owner with the power to terminate the existing lease in the instance that a better tenant / offer is presented. The lease is signed and backed by a ~10 unit operator of Jiffy Lube stores - inquire for more details on financials. Jiffy Lube is a national automotive repair chain comprised of over 2,200 locations. The property is based in West Valley City, which is part of the Salt Lake City MSA.