JIFFY LUBE – Texas City, Texas

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JIFFY LUBE – Texas City, Texas JIFFY LUBE – Texas City, Texas SUBJECT PROPERTY ACTUAL PROPERTY 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Table of Contents Presented By: Investment Summary MATT MOAKE, CCIM Investment Overview 713.275.6715 | DIRECT [email protected] Lease Abstract Aerial Photo DAVID GORHAM Location Map 713.275.6716 | DIRECT [email protected] Competition Map Tenant Profile Area Profile Confidentiality Agreement HighStreet Net Lease Group believes the information contained herein to be reliable. However, we make no guarantees, representations, or warranties of any kind, expressed or implied regarding this information; including, but not limited to content, accuracy, and reliability. Investors should consult a tax and legal advisor, as well as verify all information prior to the investment. 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Investment Summary OFFERING SUMMARY PROPERTY SUMMARY PRICE $1,260,000 ADDRESS 3314 Palmer Highway COST/ BUILDING SF $650 Texas City, Texas 77590 COST/ LOT SF $51 COUNTY Galveston NOI $80,079 BUILDING AREA 1,936 SF CAP RATE 6.35% LAND AREA 24,375 SF (0.56 acres) BUILT 1987 RENT ROLL SIZE MONTHLY RENT LEASE TERM SQUARE % OF MONTHLY INCREASE RENTAL TENANT NAME FOOTAGE PROPERTY RENT BASE $ / SF % OF TOTAL DATES INCREASE LEASE BEGIN LEASE END OPTIONS 10/1/20 Allied Lube Texas, LP 1,936 100% $6,673.31 $41.36 100% 7.73% 10/1/05 9/30/2025 (Every 5 Years) (4) x 5 year OCCUPIED SF 1,936 100% $6,673.31 $41.36 100% VACANT SF 0 0.00% 0 0 0.00% TOTAL / WTD AVG 1,936 100% $6,673.31 $41.36 100% 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Investment Overview • Allied Lube is one of the largest Jiffy Lube operators in the U.S., with over 80 locations. They received the coveted “Franchisee of the Year” award from Jiffy Lube in 2017. • Established store with excellent sales. Revenues for 2017 were $979K, a 36% increase over 2016. Revenues YTD through 9/1/18 are on pace for 2018 sales to be approximately $1.2M, another 23% increase from the previous year. • Absolute net lease with zero Landlord responsibilities. • Primary retail corridor of Texas City, surrounded by HEB, Kroger, Lowe’s, and numerous other national tenants. • Approximately 7 years remaining on the primary lease term, with Four additional 5 year renewal options. • Next 7.73% rent bump to occur 10/1/20, and during each 5 year renewal option period. • Texas City is part of the Houston/The Woodlands/Sugar Land DEMOGRAPHICS 1 - MILE 3 - MILE 5 - MILE metro area and is located approximately 35 minutes southeast of downtown Houston. POPULATION ESTIMATE 8,730 45,151 65,692 • Property is on 0.56 acre parcel with ample parking and AVERAGE H.H. INCOME $52,082 $57,660 $61,243 convenient ingress/egress. 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Lease Abstract LEASE SUMMARY ESTIMATED OPERATING INFORMATION LEASE TERM 7 Years Remaining INCOME TENANT Allied Lube Texas, LP GROSS POTENTIAL RENT $80,079 PREMISES 1,936 SF building on approximately 0.56 EXPENSE REIMBURSEMENT acres of land. Parcel #442600080304005 NNN LEASE COMMENCEMENT October 1, 2005 EFFECTIVE GROSS INCOME $80,079 LEASE EXPIRATION September 30, 2025 LESS EXPENSES NNN RENEWAL OPTIONS (4) x 5 year NET OPERATING INCOME $80,079 INCREASE DATES 7.73% on 10/1/2020; every 5 years LEASE TYPE Absolute Net INSURANCE Paid by Tenant PARKING LOT Paid by Tenant MAINTENANCE PROPERTY TAXES Paid by Tenant ROOF & STRUCTURE Paid by Tenant UTILITIES Paid by Tenant 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Aerial Photo JIFFY LUBE – Texas City, Texas Location Map SITE JIFFY LUBE – Texas City, Texas Competition Map JIFFY LUBE – Texas City, Texas Tenant Profile Jiffy Lube was founded in 1971 in Utah. The company has grown to include over 2,300 locations across the United States. Jiffy Lube specializes in a multitude of automotive maintenance services, including: signature service oil change, A/C, battery replacement, brakes, drivetrain, engine, fuel system, emissions and inspections, tires, transmission, and windshield. More than 20 million customers trust Jiffy Lube each year, and the company motto is to help you Leave Worry Behind. Jiffy Lube is headquartered in Houston, Texas and is a wholly owned indirect subsidiary of Shell Oil Company. Each location is 100% franchise-owned, so despite being a national corporation, most stores are locally operated by honest people living in the community. The Tenant: Allied Lube was founded in 1992 and is the 3rd largest Jiffy Lube franchisee in the nation. They operate over 80 stores throughout Texas. Allied Lube is a privately held company based in Irvine, California. 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Area Profile Houston is the most populous city in Texas with more than 2.2 million people, and the 4th largest city in the United States, behind only New York, Los Angeles, and Chicago. Houston is home to the corporate headquarters of 24 Fortune 500 companies, which is the 3rd most of any metro area in the U.S. Houston is recognized worldwide for its energy industry, which has helped the city top rankings for job creation in recent years, but the economy of the city has become widely diversified amongst healthcare, manufacturing, aeronautics, transportation, finance, information technology, and trade. The Port of Houston is the top ranked port in the U.S. for international tonnage and is the largest container port along the entire Gulf Coast, making it a major economic driver for Houston and the surrounding region. Houston is the most diverse city in Texas and has been described as the most diverse city in the U.S., thanks to a large and growing international community. The Museum District is home to a multitude of cultural institutions which attract over 8 million visitors annually. Even with the adjustment in oil prices starting in late 2014, the Houston metro area added more jobs from July 2014 to July 2015 than any other metro area in America. The Houston population has grown by nearly 740,000 people since 2010, and projections indicate that Houston will overtake Chicago as the 3rd largest city in the U.S. within the next decade. Texas City is located approximately 35 minutes southeast of downtown Houston and is part of the Houston/The Woodlands/Sugar Land metro area. It sits on the southwest shoreline of Galveston Bay, which makes the area a busy deepwater port on Texas’ gulf coast leading into the Houston Ship Channel. The economy is driven by petroleum refining and petrochemical manufacturing. Originally founded in 1893, Texas City has seen tremendous growth along with the Houston MSA throughout its history. Palmer Highway is the primary east/west corridor running from Houston to the Texas City Dike, which extends 5 miles into Galveston Bay and is famous for being the “world’s longest man-made fishing pier.” 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 JIFFY LUBE – Texas City, Texas Confidentiality Agreement The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from HighStreet Net Lease Group and should not be made available to any other person or entity without the written consent of HighStreet Net Lease Group. This Marketing Brochure 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, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, HighStreet Net Lease Group has not verified, and will not verify, any of the information contained herein, nor has HighStreet Net Lease Group 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. 5851 San Felipe Phone | 713-275-6777 Suite 220 Toll Free | 877-445-0555 Houston, TX 77057 Fax | 713-275-6714 Exclusively Listed By: Matt Moake, CCIM David Gorham 713.275.6715 713.275.6716 [email protected] [email protected] .
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