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317 W North Street - Jiffy Lube, Kendallville, IN

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DetailMap
317 W North Street - Jiffy Lube

Kendallville, IN 46755-1003

(4.4 MB)

Property Type:Retail Sub Type:Auto Repair Status:Existing , Renov 2016 Year Built:1992
Building Size:2,302 SF Land Area:.32 AC (13,856 SF)
For Sale Price:$1,140,380 Price/SF:$495.39
Cap Rate:7.25 %



Sale Notes:
The Boulder Group is pleased to exclusively market for sale a single tenant net lease Jiffy Lube property located in Kendallville,
Indiana. The Jiffy Lube property is strategically positioned just off of the heavily trafficked signalized intersection of US Highway
6 (North Street) and Goodwin Place. This signalized intersection experiences traffic volumes in excess of 30,000 vehicles per day.
Kendallville is located approximately 60 miles east of South Bend which is home to the University of Notre Dame.
The property is currently undergoing a renovation which will add an additional drive-in bay to utilize for brakes and tire service.
This addition will increase the amount of bays to three. This expansion exemplifies the tenants’ commitment to the location.
The Jiffy Lube property is benefitted by its location within Kendallville’s primary retail trade corridor across the street from a
Kroger grocery store. National retailers located in the immediate area include CVS, Walgreens, Chase Bank, McDonald’s, O’Reilly
Auto Parts, Advance Auto Parts, Tractor Supply Company and Aaron’s.
There are approximately 16 years remaining on the Jiffy Lube lease which expires December 14, 2032. The absolute triple net
lease features annual rental escalations in the primary term and in each of the two 5-year renewal option periods. The tenant is
an experienced Jiffy Lube operator throughout the state of Indiana and Kentucky.

• Long term lease with approximately 16 years remaining
• Annual rental escalations in the primary and renewal option periods
• Absolute triple net lease with no landlord responsibilities
• Positioned just off of the heavily trafficked signalized intersection which experiences traffic counts in excess of 30,000 vehicles
per day
• Located along Kendallville’s primary east-west thoroughfare
• National retailers located in the immediate trade area include Kroger, CVS, Walgreens, Chase Bank, O’Reilly Auto Parts, Advance
Auto Parts, McDonald’s and Aaron’s
• Tenant is committed to this location as evidenced by the expansion of an additional drive-in bay.
• Experienced Jiffy Lube operator

The Boulder Group
Randy Blankstein
(847) 562-0003

John Feeney
(847) 562-9280




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