507 SE 10th Ave
Hillsboro, OR 97123
Jiffy Lube · Retail Property For Sale

The subject property is a 2-bay free-standing oil service center which it has operated as Jiffy Lube International since the building' s construction in 1985. Made from wood-frame the property is located at 507 SE 10th Avenue, Hillsboro, OR and is situated on a 9,148 square foot parcel at a hard signalized corner. Well-maintained and landscaped the property is ideally placed at the intersection of SE 10th Street and SE Walnut Street a major retail thoroughfare with national tenants in the area including, McDonald' s, Burger King, Econo Lodge, Carl' s Jr., Aaron' s, Sherwin-Williams and more. The property is corporately guaranteed by Jiffy Lube International Inc., a Delaware Corporation. The property currently is on a 20-year absolute net lease with nearly 11 years remaining. The tenant is responsible for all operating expenses associated with the property, including roof, structure, and parking lot. There are 12-percent rent increases every 5-years. Evidenced by Jiffy Lube operations at this site for more than 30-years, renewing options periods, early lease extensions, absolute net lease, and favorable 12-percent rent escalations, this property is ideal for a passive investor who prefers a passive, very low landlord responsible property(Absolute net) with increasing returns.