JIFFY LUBE | MOORE, SOUTH CAROLINA



INVESTMENT SUMMARY

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

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
TENANT:
- A Leading National Provider of Automotive Preventative Maintenance
- 2,000+ Service Centers Across the Country