1430 Cornwall Ave - Auto Repair FOR SALE


Bellingham, WA 98225- Downtown Bellingham
$1,215,000 USD
206-550-9500
1430 Cornwall Ave, Bellingham, WA for Sale
$1,215,000 USD
Auto Repair - FOR SALE
1/3
null | 5.5% Cap Rate

1430 Cornwall Ave
Bellingham, WA 98225
Downtown Bellingham


HIGHLIGHTS

  • #1 Jiffy Lube in Bellingham and Top 16% Nationally (Placer.AI)
  • 6+ Year Lease | New 10-Year Extension in 2022
  • Absolute Net Lease
  • Largest Jiffy Lube Franchisee (500+ Locations)
  • Rare 3% Annual Rent Increases
  • Low Rent Location ($16.93/SF + NNN)

OVERVIEW

Brown Retail Group of Marcus & Millichap has been selected to exclusively market for sale the #1 ranked Jiffy Lube in Bellingham, WA; ranked in the top 16% of all Jiffy Lube locations nationally (per Placer.ai). The property has been secured by an absolute net lease with zero landlord responsibilities since 2004 and has more than 6 years remaining on a 10-year lease extension signed in 2022, with rare 3% annual rent increases. With a current rent of just $16.88/SF NNN — well below the $30+/SF NNN market rate for quick lube properties — the investment offers low operating cost for the tenant significant future rental upside for the landlord. The property is operated by Team Car Care, the largest Jiffy Lube franchisee in the US with 550+ locations nationwide. Originally built as a quick lube facility in 1965, the site has operated successfully as a Jiffy Lube for more than 20 years, with Team Car Care acquiring operations in 2022 and demonstrating continued long-term commitment to the location. Situated at the signalized hard corner of Cornwall Ave and Champion Street (10,600+ VPD) in downtown Bellingham, the property offers prominent signage and easy ingress and egress from both streets. The surrounding trade area includes 155,000+ residents within 10 miles with average household incomes exceeding $102,000, supported by approximately 7% population growth since 2020 — making Bellingham one of the fastest-growing secondary markets in Washington.

FOR SALE DETAILS

PRICE

$1,215,000 USD

PRICE/SF

$316 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jiffy Lube

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

CC

APN/PARCEL ID

380330-245187-0000

ASK ABOUT THIS PROPERTY

Luke PallisMarcus & MillichapMore Info
206-550-9500

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Luke PallisMarcus & MillichapMore Info
206-550-9500

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