20-YEAR absolute NNN OFFERING :: NEW CONSTRUCTION
CORPORATELY GUARANTEED JIFFY LUBE
LAKELAND, FLORIDA 
pricing
PRICE: $3,281,000
CAP: 5.25%
NOI: $172,232
investment
highlights
  • Corporately Guaranteed: Jiffy Lube is the largest oil-change chain in the United States, with 2,000+ franchise locations serving more than 20 million customers annually. Jiffy Lube International, Inc., the Tenant under the Lease, is a wholly-owned, indirect subsidiary of Shell Oil Company and serves as the franchisor for the Jiffy Lube brand which is 100% franchised.
  • Long-Term Absolute NNN Lease: New 20 year lease with four 5-year renewal options—No Landlord responsibilities.
  • Attractive Rent Escalations: 10% rent increases every 5 years throughout the initial term and option periods.
  • New Construction: Building is newly constructed and was delivered in October 2017.
  • Strategic Location: Immediately adjacent to Walgreens and Taco Bell/Long John Silver’s and directly across U.S. Highway 98 N from a ±75,000-square-foot shopping center anchored by Publix with outparcels occupied by Wells Fargo and Checkers.
  • Excellent Access and Visibility:  Ideally located at the signalized intersection of U.S. Highway 98 (Traffic Count: 46,000 VPD) and Marcum Road (Traffic Count: 13,100 VPD).
  • Dominant Retail & Residential Corridor: 4.0 MSF of retail, 21,227 households and 5,026 multifamily units within a 3-mile radius. 
  • Market: Lakeland, FL (MSA Population: 666,149) is centrally located approximately 35 miles northeast of Tampa and 55 miles southwest of Orlando. In addition to this central location between two of Florida’s premier cities, Lakeland is also home to the headquarters of Publix Super Markets - the MSA’s largest employer. The city’s thriving economy also features multiple state-of-the-art healthcare facilities and institutes of higher learning and it serves as significant retail and distribution hub due to its location directly off of Interstate 4.
CONTACT
US
WILL PIKE
Managing Director
+1 404 923 1381
will.pike@cbre.com 

BRIAN PFOHL
Capital Markets Manager
+1 404 504 7893
brian.pfohl@cbre.com

CHRIS BOSWORTH
Managing Director
+1 404 923 1486
chris.bosworth@cbre.com
 
MARK DRAZEK
CBRE FL Licensee
mark.drazek@cbre.com
 
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