|
|
|
|
Clayton Brown
Direct: (206) 826-5787
|
|
|
Marcus & Millichap, Inc.
Main: (206) 826-5700
www.marcusmillichap.com
|
|
|
|
|
|
|
|
FOR SALE - Listing #: 711872
Jiffy Lube - Bellingham
1430 - 0 Cornwall Ave , Bellingham WA98225
3,840 Available SF 3,840 SF
Agent Remarks
We have 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 500+ locations nationwide. Originally built as a quick lube facility in 1965, the site has opera
|
County
|
Whatcom
|
|
|
Market Area
|
Whatcom County
|
|
|
Tax ID #
|
75314
|
|
|
Price
|
$ 1,215,000
|
|
Property Details
|
Prop Type
|
Retail
|
|
|
# Floors
|
1
|
|
|
Bldg SF
|
3,840
|
|
|
Year Built
|
1965
|
|
|
Land SF
|
11,383
|
|
|
# Bldgs
|
1
|
|
|
Acres
|
0.261315
|
|
|
# Parking Spaces
|
0
|
|
|
Office Class
|
|
|
|
|
|
|
|
|
|
Informational Links
|
|
|
