JIFFY LUBE - Single Tenant NNN Retail Investment Opportunity
The Details
- 2,000 SF freestanding retail building
- Leased by leading vehicle maintenance provider, Jiffy Lube Multicare® since 1989
- 7-Year Triple Net lease with four 5-Year options - Approximately 9% rent increases with each option
- 3% rent above sales of $1,000,000
- Property has undergone over $250,000 of improvements in 2021
- Highly visible location in bustling office, retail and industrial headquarters area, near Randall Road
- Daily traffic counts: 17,353 vehicles
- Nearby retailers include: Walgreens, Jewel-Osco, Meijer, CVS, shopping and restaurants
- Zoning: BR Regional Business
Well-located on bustling Lincoln Highway (Route 38), this 2,000 square foot freestanding retail building is available for sale. The property is leased by a subsidiary of Shell Motor Company, Jiffy Lube®, a long leading provider of automotive preventive maintenance. Jiffy Lube® has a national footprint of more than 2,000 franchisee-owned service centers across the country. The building features three drive-in bays and good exposure on Lincoln Highway. This property is part of a commercial cluster that has spread out from the intersection of Randall Road and Lincoln Highway. Jiffy Lube® has been a long-term tenant in this location with sales averaging over $1,500,00 in the past three years. There are four remaining 5-year renewal options with fixed rental rate increases.
In the western suburbs of Chicago, St. Charles is a growing community with a balanced mix of businesses including offices, retailers and manufacturers. Lincoln Highway is one of the major arterials spanning multiple counties, providing access to Interstate 90 and the affluent suburbs.