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Jiffy Lube - Elgin 445 S Mclean Blvd 1,942 SF Retail Building Elgin, IL 60123 $1,704,534 CAD ($877.72 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Absolute Triple-Net Leased Jiffy Lube | Large Franchise Operator
- Tenant Has Been in Place Since 2004, Providing Long-Term Stability
- Adjacent to Major Employment and Education Hubs
- Backed by Team Car Care, the Largest Jiffy Lube Operator in the U.S. (550 Locations Nationwide)
- Directly Off Route 20’s On/Off Ramp with 46,000 Vehicles per Day (VPD) | Prominent Frontage Along Mclean Boulevard with 26,500 VPD
- 89,174 People Work Within Three Miles with 170,280 People Living Within Five Miles
Executive Summary
Investors are offered the opportunity to acquire a single tenant absolute triple-net leased Jiffy Lube property located in Elgin, IL (Chicago MSA). The operator, Team Car Care, is the largest Jiffy Lube franchise in the chain, operating in more than 550 locations across 26 states. Jiffy Lube has successfully operated at this location for 22 years, providing an investor with stability. The lease features regularly scheduled rental increases every five years. The property is positioned directly off the Route 20 interchange (46,000 vehicles per day) with strong visibility and frontage along McLean Blvd (26,500 vehicles per day), in a high-traffic corridor surrounded by Elgin’s industrial base and major employers. Nearby demand drivers include Elgin Community College (10,461 students), Elgin Mall’s national retail tenants, Saint Joseph Hospital, and Larkin High School, all within close proximity. The site is supported by a dense and affluent trade area with over 89,000 employees within three miles, 170,000 residents within five miles, and average household incomes exceeding $122,000.
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Property Facts
Sale Type
Investment NNN
Property Type
Building Size
1,942 SF
Building Class
C
Year Built
2004
Price
$1,704,534 CAD
Price Per SF
$877.72 CAD
Cap Rate
7.75%
NOI
$132,074 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.31 AC
Parking
6 Spaces (3.09 Spaces per 1,000 SF Leased)
Amenities
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-22-327-015 | Improvements Assessment | $101,492 CAD |
| Land Assessment | $74,130 CAD | Total Assessment | $175,623 CAD |
Property Taxes
Parcel Number
06-22-327-015
Land Assessment
$74,130 CAD
Improvements Assessment
$101,492 CAD
Total Assessment
$175,623 CAD
Contacts
-
Sean Sharko -
Adrian Mendoza -
Austin Weisenbeck -
Benjamin Shapiro -
Sharko | Weisenbeck | Mendoza Group
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Jiffy Lube - Elgin | 445 S Mclean Blvd
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