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Corporate Jiffy Lube 1023 Main St 4,205 SF Retail Building Billings, MT 59105 $3,333,457 CAD ($792.74 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 10 years remaining on corporate lease
- Building equipped with 4-bays (Multicare facility)
- Absolute NNN lease with 10% fixed rent increases every 5 years
- Monumental sign provides tenant with excellent street visibility
EXECUTIVE SUMMARY
Unique opportunity to acquire a corporate backed Jiffy Lube facility located in Billings, Montana. Newly constructed in 2015, there are 10 years remaining on the absolute NNN lease that calls for 10% fixed rent increases every 5 years. The facility was designed with 4-bays so it could be a Multi-Care facility offering more than just oil changes.
Jiffy Lube has over 2,100 locations throughout North America. Jiffy Lube is a subsidiary of Shell USA (NYSE:SHEL) that has a market cap of $221 billion.
Billings is the largest city in Montana with a reported 121,483 residents. Average Household Income of $91,461 reported within a 3-mile radius of the subject property.
Jiffy Lube has over 2,100 locations throughout North America. Jiffy Lube is a subsidiary of Shell USA (NYSE:SHEL) that has a market cap of $221 billion.
Billings is the largest city in Montana with a reported 121,483 residents. Average Household Income of $91,461 reported within a 3-mile radius of the subject property.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,205 SF
Building Class
C
Year Built
2015
Price
$3,333,457 CAD
Price Per SF
$792.74 CAD
Cap Rate
5.75%
NOI
$191,707 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.69 AC
Zoning
HC
Parking
12 Spaces (2.85 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03-1033-22-4-13-33-0000 | Improvements Assessment | $721,194 CAD |
| Land Assessment | $831,926 CAD | Total Assessment | $1,553,120 CAD |
PROPERTY TAXES
Parcel Number
03-1033-22-4-13-33-0000
Land Assessment
$831,926 CAD
Improvements Assessment
$721,194 CAD
Total Assessment
$1,553,120 CAD
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Corporate Jiffy Lube | 1023 Main St
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