6630 N. 72Nd Street Omaha, Ne 68122 Asking Price $1,716,000
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ASKING PRICE $1,716,000 OFFERING MEMORANDUM 6630 N. 72ND STREET OMAHA, NE 68122 *Photos are representative only 1 | EHREN JACOBS Execs EXCLUSIVELY MARKETED BY EHREN JACOBS RICK GRUBAUGH RACHEL BATEMAN REALTOR® NEBRASKA BROKER TRANSACTION COORDINATOR CELL: (310) 920-8996 LIC# 098022 EMAIL: [email protected] ALBERT MEDINA MARKETING ASSOCIATE LIC# 01219939 DISCLAIMER STATEMENT: The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from RE/MAX Execs/RE/MAX Elite and should not be made available to any other person or entity without the written consent of RE/MAX Execs/RE/MAX Elite. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. RE/MAX Execs/RE/MAX Elite has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, RE/MAX Execs/ RE/MAX Elite has not verified, and will not verify, any of the information contained herein, nor has RE/MAX Execs/RE/MAX Elite conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. 2 | EHREN JACOBS Execs CONTENTS 4 INVESTING OFFERING 9 PROPERTY PHOTOS Investment Highlights Property Summary 10-11 DEMOGRAPHICS 5 FINANCIAL ANALYSIS 12-14 LOCATION MAP Financial Summary Aerial View Rent Schedule 15 AREA OVERVIEW 6-8 COMPANY PROFILE Company Profile 16 PARCEL MAPS History Services Community 3 | EHREN JACOBS Execs INVESTMENT OFFERING INVESTMENT HIGHLIGHTS PROPERTY SUMMARY As exclusive sales agents RE/MAX proud to represent this single tenant, NET lease investment opportunity. The tenant is Address: 6630 N. 72nd Street in a high visibility location in Omaha, Nebraska. Omaha, NE 68122 Assessor Parcel #: 3397-1120-22 Legal Description: SORRENSEN PARK PLAZA REP 5 LOT:000001 BLOCK:0000 IRREG 18,535 SQ FT -BASE REDEVELOPEMNT PROJECT VALUE (EXCESS 2166) • National Brand Name Tenant Lot Size: .41 ACRE • Initial lease term (20) years Building Size: 3006± Sq. Ft. (First floor/Basement) • 11+ years remaining on the initial lease • 10% increase in base rent every (5) years Landscaping: Professional • Available @ 5.78% CAP rate Property Type: Commercial • 4 options to renew the lease Number of Stores: One • Website: www.jiffylube.com • Number of locations nationwide: 2000± Parking Spaces: 10± Estimated • Current NOI $99,338 per year Year Built: 2012 • Franchisee with 500± locations • PAD SITE to Sorensen Plaza - retailers include Target, Big Lots, Marshalls, PetSmart, Ulta Beauty, Party City and others. 4 | EHREN JACOBS Execs FINANCIAL ANALYSIS 6630 N. 72nd Street Omaha, NE 68122 FINANCIAL SUMMARY Asking Price $1,716,000 RENT SCHEDULE Cap Rate 5.78% PERIOD Lease Type NNN TERM PERIOD MONTHLY RENT ANNUAL RENT Ownership Fee Simple FIRST 02/03/12 - 02/28/17 $7,525.00 $90,306.00 Base Rent $99,337 03/01/17 - 02/28/22 $8,278.00 $99,337.00 Guarantor TEAM CAR CARE SECOND (current) 01/01/21 - 12/28/21 $2,069.54 $24,834.00 Tenant TEAM CAR CARE THIRD 03/01/22 - 02/28/27 $9,105.00 $109,271.00 Term Remaining 11 + Years FOURTH 03/01/27 - 02/28/32 $10,016.00 $120,198.00 Options to Renew (4) Five year options Rent Increases Throughout Terms OPTIONS PERIOD MONTHLY RENT ANNUAL RENT Option Increases 10% @ every five (5) years FIRST 03/01/32 - 02/28/37 $11,018.00 $132,218.00 Property Taxes Tenant Property Maintenance Tenant SECOND 03/01/37 - 02/28/42 $12,120.00 $145,440.00 Property Insurance Tenant THIRD 03/01/42 - 02/28/47 $13,332.00 $159,984.00 Commencement Date 02/03/2012 Lease Expiration 02/28/2032 FOURTH 03/11/47 - 02/28/52 $14,665.00 $175,983.00 5 | EHREN JACOBS Execs COMPANY PROFILE Company Profile Jiffy Lube is an American brand of automotive oil change specialty shops founded in Utah, United States, in 1971. It has been a subsidiary of Royal Dutch Shell since 2002, and is headquartered in Houston, Texas. Company History The first Jiffy Lube store was established on 36th Street in Ogden, Utah by Edwin H. Washburn as early as 1971. Over the following years, Washburn franchised a number of Jiffy Lube centers within Utah. In 1979, then-football coach at Western Maryland College W. James Hindman bought out Washburn’s seven franchises and established Jiffy Lube International, relocating to Baltimore, Maryland. It is this year which Jiffy Lube generally states as its founding date with Hindman as its founder. Jiffy Lube went public in 1987, and had opened 1,020 franchises and company stores by 1989. In 1991, Jiffy Lube became a subsidiary of Pennzoil. Following the merger of Pennzoil and Quaker State in 1998, the 581 Q Lube stores were merged into the Jiffy Lube brand, then possessing 1,541 stores, with overlapping operations being closed down. Pennzoil-Quaker State was ultimately purchased by Shell Oil in 2002. There are about 2,000 Jiffy Lube franchises in North America, all of them independently owned by 252 operators, with about 24 million customers each year as of 2002. The company was ranked first on National Oil and Lube News 2011 Tops in the Fast Lubes Industry Rankings. Also, Jiffy Lube was ranked number 15 in Entrepreneur Magazine’s 2012 Franchise 500 and number 73 on Franchise Times 2011 Top 200 Franchise Chains by Worldwide Sales. Company Services Jiffy Lube® is a leading provider of automotive preventive maintenance. With a national footprint of more than 2,000 franchisee owned service centers across the country, Jiffy Lube offers a range of services from oil changes and tire rotations, to everything in between. In June 2011, Jiffy Lube introduced a new program called Oil Change Schedule (OCS). The new program allows Jiffy Lube customers to choose how often they have their oil changed based on a number of variables including vehicle manufacturer recommendations, driving habits, and road conditions. The OCS program moves away from the old model of changing oil every 3,000 miles and provides a schedule that is unique for each driver. Jiffy Lube technicians are not just highly trained in preventive maintenance, they are also highly trained in customer service. So if you have any questions about vehicle maintenance or the services performed at any Jiffy Lube service center, your technician will help you find the resources and information you need, whether it’s in-store, online or by accessing your vehicle manufacturer’s recommendations. It’s just another way Jiffy Lube strives each and every day to help you Leave Worry Behind® . 6 | EHREN JACOBS Execs COMPANY SERVICES 7 | EHREN JACOBS Execs COMMUNITY Community - GIVING BACK We Care for Cars and a Whole Lot More Jiffy Lube supports our local communities. Through sponsorships and programs, we have donated to local schools, charities and other organizations. Jiffy Lube is proud to have supported the Muscular Dystrophy Association (MDA) since 2012. Through the generosity of our customers and franchisees, Jiffy Lube has donated more than $6 million, sending more than 3,000 kids to MDA Summer Camp. The camp gives kids with limited muscle strength and mobility a fun, life-changing experience in an environment without barriers. Although Jiffy Lube has grown to become the largest automotive maintenance provider in the United States, one thing has remained constant: our commitment to give back to the communities in which we live and work. Jiffy Lube supports a variety of philanthropic initiatives that help change our world for the better. In addition to our national initiative, at a local level, our franchisees across the country support organizations in their own backyards. August 6, 2015 November 7, 2018 Jiffy Lube supports the Muscular Dystrophy Jiffy Lube International, Inc. president Patrick Association.They make donations and help those Southwick, third from left, poses with winners and their affected by muscular dystrophy. handmade cars they used in a derby race he helped judge during the Muscular Dystrophy Association’s annual MDA Summer Camp. 8 | EHREN JACOBS Execs PROPERTY PHOTOS 9 | EHREN JACOBS Execs DEMOGRAPHICS Demographics Summary 6630 N. 72nd Street 6630 N. 72nd Street 6630 N. 72nd Street Description 1 mi Radius 3 mi Radius 5 mi Radius Total % Total % Total % Populatons 2010 Census 8,548 100.00 67,793 100.00 181,534 100.00 2020 Estimate 9,934 100.00 72,410 100.00 190,860 100.00 Households 2010 Census 3,432 100.00 26,870 100.00 74,903 100.00 2020 Estimate 3,899 100.00 28,605 100.00 78,985 100.00 Est. Population by Single-Classification Race 2504 Williams Drive 2504 Williams Drive 2504 Williams Drive Description 1 mi Radius 3 mi Radius 5 mi Radius Total % Total % Total % White Alone 5,873 59.12 42,128 58.18 117,911 61.78 Black or African American Alone 2,810 28.29 21,230 29.32 45,883 24.04 American Indian & Alaska Native Alone 70 0.70 531 0.73 1,533 0.80 Asian Alone 408 4.11 2,358 3.26 8,668 4.54 Native Hawaiian & Other Pacific Islander 7 0.07 51 0.07 115 0.06 Some Other Race Alone 233 2.35 2,151 2.97 7,615 3.99 Two or More Races 532 5.36 3,960 5.47 9,136 4.79 Data supplied from Environics Analytics 10 | EHREN JACOBS Execs DEMOGRAPHICS Pop-Facts® Demographics | Map Trade Area: 6630 N.