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- LoopNet Team
40 19th St SW
Forest Lake, MN 55025
Jiffy Lube Service Center · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Signage
ABOUT 40 19TH ST SW , FOREST LAKE, MN 55025
The subject property is a single tenant Jiffy Lube Service Center located at 40 19th Street SW in Forest Lake Minnesota. The property was developed for Heartland Automotive, the largest franchise operator of Jiffy Lube properties. Recently, Heartland was acquired by Team Car Care with 500 locations backing the lease. The building is high quality construction with mason block construction, 3 drive through bays and one head in bay. This exit is a retail shopping hub with Home Depot, Menard's, Cub Foods, Walmart, Aldi Foods and Target. The absolute net lease commenced in 2004 and funds through 2024. The property is being offered at a 6.5% cap rate which will increase to 7.15% on June 1, 2019.
PROPERTY TAXES
| Parcel Number | 07-032-21-13-0028 | Improvements Assessment | $481,700 |
| Land Assessment | $322,700 | Total Assessment | $804,400 |
PROPERTY TAXES
