1023 Main St - Auto Repair FOR SALE


Billings, MT 59105
$2,388,000 USD
650-279-5790
1023 Main St, Billings, MT for Sale
$2,388,000 USD
Auto Repair - FOR SALE
1/3
null | 5.75% Cap Rate

1023 Main St
Billings, MT 59105


HIGHLIGHTS

  • 10 years remaining on corporate lease
  • Absolute NNN lease with 10% fixed rent increases every 5 years
  • Building equipped with 4-bays (Multicare facility)
  • Monumental sign provides tenant with excellent street visibility

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,388,000 USD

PRICE/SF

$568 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Corporate Jiffy Lube

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

HC

APN/PARCEL ID

03-1033-22-4-13-33-0000

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.