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Jiffy Lube, Perris, CA

Jiffy Lube

CA, United States

Price $1,650,000
Cap Rate
NOI
Lease Term 4 Years Remaining
Lease Type
Rental Increases Various Yearly Rental Increases
Year Built 2008
Building Size 1,944 SF
Lot Size 0.28 Acres (12,197 SF)
Status Sold
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

ABSOLUTE NNN LEASE WITH YEARLY RENTAL INCREASES TO STRONG NATIONAL TENANT
» No landlord management, providing ideal investment for an out-of-area investor
» Various yearly rental increases in initial term and options, providing a hedge against inflation
» Jiffy Lube has over 2,000 locations nationwide and serves more than 20 million customers per year

FREEWAY-VISIBLE LOCATION IN LARGE RETAIL CENTER
» Excellent access and visibility from Interstate 215 – 74,000 AADT
» Located in large retail center anchored by WinCo Foods and Home Depot
» Surrounded by major national tenants, including Verizon, Starbucks, Bank of America, Circle K, and others

CLOSE PROXIMITY TO AREA’S LARGEST EMPLOYERS
» Approximately ten miles from March Air Reserve Base, one of the largest employers in the Inland Empire, with 8,750 employees
» Close proximity to distribution centers for several major retailers, including Amazon, Ross, Home Depot, Lowe’s, and Walgreens
» Shipping and distribution is one of the Inland Empire’s largest industries

INLAND EMPIRE LOCATION WITH ROBUST DEMOGRAPHICS
» Southern California’s fastest growing region, predicted to add more than 60,000 people per year through 2040
» The Inland Empire has close to 4.5 million residents, making it more populous than almost half the states in the country
» Population of 131,593 within a five-mile radius of Jiffy Lube

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located in Perris Crossing, a large retail shopping center anchored by WinCo Foods and Home Depot. The shopping center features a variety of major national tenants, including Verizon, Starbucks, Carl’s Jr., Bank of America, and Circle K, among others. Perris Crossing is in a freeway-visible location just off of Interstate 215, which boasts a traffic count of 74,000 vehicles per day.

Perris Valley Airport is less than a ten minute drive from the property. The airport is popular with skydivers, both amateur and professional, and has helped Perris earn a reputation as “the skydiving capital of America”. Additionally, March Air Reserve Base is also a short drive from the site. March Air Reserve Base is one of the largest employers in the region, with 8,750 employees. Several large distribution facilities surround March Air Reserve Base, representing several major retailers, including Lowe’s, Home Depot, Ross, Amazon, Hanesbrands, Walgreens, O’Reilly Auto Parts, and many others. These facilities are also large centers of employment in the region, as distribution is one of the Inland Empire’s main industries.

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