JIFFY LUBE | MOORE, SOUTH CAROLINA

Purchase Price
$3,085,000
Location
5950 Reidville Rd
Cap Rate
5.75%
Annual Rent
$177,307.00
Building Size
4,952 SF
Land Area
0.58 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
15 Years
LEASE EXPIRATION
08/31/2038
Renewal Options
Five (5) - Five (5) Year
RENT INCREASES
10% Every 5 Years
Parking
13 Spaces
Year Built
2023
APN
5-31-12-028.00
Traffic Counts
13,300 VPD

INVESTMENT HIGHLIGHTS

 

BRAND NEW 2023 CONSTRUCTION:

  • 15 Year Initial Lease Term
  • 4,952 Sq. Ft. Building - 0.58 Acre Parcel
 

JIFFY LUBE CORPORATE LEASE:

  • Jiffy Lube International, Inc.
  • A Wholly Owned Indirect Subsidiary of Shell Oil
 

ABSOLUTE NNN LEASE | A TRUE COUPON CLIPPER:

  • Absolute NNN Lease with ZERO Landlord Responsibilities
  • Tenant Pays for ALL Operating Expenses, Insurance & Pays Property Taxes Directly to Taxing Authority
 

SCHEDULED RENT INCREASES:

  • 10% Rent Increases Every 5 Years (Initial Lease Term & Options)
 

I-85 AT SC 290 INTERCHANGE IMPROVEMENT PROJECT:

  • Located 3 Miles North of the Subject Property
  • The Project Will Convert the Existing SC 290 Interchange to a Diverging Diamond Interchange and Improve Ramps at the Interchange
  • The SC 290 Interchange was Originally Designed with the Expectation that Most Development in the Area Would Occur to the North of I-85
  • In Actuality, Development has Occurred to the South
  • Constructed Started in Summer 2022 and is Expected to be Completed in Summer 2024
  • Anticipated Cost = $20.5 Million
 

BMW MANUFACTURING FACILITY:

  • Located 9 Miles from the Subject Property
  • In 1992, BMW Announced That It Would Build Its First Full Manufacturing Facility Outside of Germany - in South Carolina
  • At That Time, BMW Pledged to Invest $600 Million, to Employ 2,000 Associates by the Year 2000, and Attract at Least Nine Suppliers to the State
  • Now Over Three Decades Later, the BMW Group Has Invested Nearly $12.4 Billion and the Plant Has Gone Through Six Major Expansions
  • There Are More Than 11,000 Jobs Onsite with Over 40 Direct Tier 1 Suppliers Located in South Carolina
 

PROXIMITY TO MOORE, SC:

  • Spartanburg, SC | 11 Miles
  • Greer, SC | 12 Miles
  • Greenville, SC | 22 Miles
  • Clemson, SC | 53 Miles
  • Rock Hill, SC | 78 Miles
  • Charlotte, NC | 87 Miles
  • Columbia, SC | 93 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile: 4,616 Residents| $93,981 Average Household Income
  • 3-Mile: 22,501 Residents | $108,147 Average Household Income
  • 5-Mile: 51,202 Residents | $104,085 Average Household Income
 

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