Jiffy Lube Houston, Texas

$716,714
Cap Rate: 7.00%
Under Contract
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 7.00%
Price: $716,714
Rentable Square Feet: 1,936
Annual Rent: $50,170
Price PSF: $370.20
Lease Guarantor: Allied Lube, LLC
Lease Type: NNN
Option Periods: 4, 5-Year Options
Rental Increases: 7.73% Every 5 Years in Base Term
Lease Expiration: 9/30/2025

4513 Highway 6 North
Houston, TX 77084

Investment Highlights

  • Long Term, Triple Net Lease with Over Five Years Remaining
  • Four, Five-Year Renewal Options with 7.73 Percent Increases Every Five Years
  • Proven Location Operating Over 15 Years
  • Strong Franchisee with Over 80 Jiffy Lube Centers Throughout Texas
  • Located off Highway 6 North with a Daily Traffic Count of More Than 49,000 Vehicles
  • Strong Demographics | Population More Than 270,000 Within a Five-Mile Radius
  • Surrounding National Retailers Include Walmart Neighborhood Market, Aldi, Home Depot, Lowe’s, Marshalls, Target, Family Dollar, Rent-A-Center, H-E-B Supermarket, Buddy’s Home Furnishings, Advance Auto Parts, Walgreens, Cricket Wireless, McDonald’s, Pizza Hut, Popeyes, Chipotle and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Jiffy Lube in Houston, Texas. This Jiffy Lube has a long-term, triple net lease with over five years remaining on the base term. The lease offers four, five-year renewal options with 7.73 percent rent increases every five years throughout the base term and option periods. The tenant has been operating from this location for over 15 years, showing a strong commitment to this site. The lease guarantor is Allied Lube, LLC (Allied Lube Group), who owns and operates more than 80 Jiffy Lube locations throughout Texas – 47 of which are in the Greater Houston area.

This Jiffy Lube is located off Highway 6 North with a daily traffic count of more than 49,000 vehicles. The area has strong demographics, with a population over 270,000 within a five-mile radius of the subject property. In this high-traffic, busy retail area, surrounding national brands include Walmart Neighborhood Market, Aldi, Home Depot, Lowe’s, Marshalls, Target, Family Dollar, Rent-A-Center, H-E-B Supermarket, Buddy’s Home Furnishings, Advance Auto Parts, Walgreens, Cricket Wireless, McDonald’s, Pizza Hut, Popeyes, Chipotle and many more. The subject property is five miles from West Houston Airport, and seven miles from Houston Community College – Katy Campus.

Houston is the fifth most populous metro area in the United States. With a lower cost of living than many major metros and no state income tax, this metro area also has a population of nearly 6.9 million people. There are more than 20 Fortune 500 companies that are headquartered in the Houston area. In addition, the Port of Houston is one of the country’s busiest for exports, supplying thousands of jobs and generating billions of dollars in revenue.

In 2017, Jiffy Lube International named Allied Lube Group as “Franchisee of the Year”. The award is presented to the franchisee that best represents the core values and attributes of the Jiffy Lube brand, including demonstrating a commitment to operational excellence, supporting the professional development of their employees, committing to innovation and providing an outstanding customer experience.


Tim Speck
Division Manager, Texas
Lic. # 9002994
Tim.Speck@marcusmillichap.com

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