640 N Wayne St - Auto Repair FOR SALE


Angola, IN 46703
$1,664,329 USD
847-562-9280
640 N Wayne St, Angola, IN for Sale
$1,664,329 USD
Auto Repair - FOR SALE
1/3
null | 7% Cap Rate

640 N Wayne St
Angola, IN 46703


HIGHLIGHTS

  • Successful 49-unit Jiffy Lube franchisee
  • Established oil change location since 2007
  • NNN – No landlord responsibilities
  • Renovated & expanded in 2017
  • Located along North Wayne Street (16,400 VPD)
  • One mile north of Trine University (15,000 students) & Cameron Memorial Community Hospital (25 beds)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Jiffy Lube property located in Angola, Indiana. The property has been operating successfully as a quick-service oil change center since June 2007, when the lease began. The tenant, a 49-unit franchise, was recently acquired by an experienced, well-capitalized operator with prior experience. The current lease runs through July 2032 and is absolute triple net, placing no responsibilities on the landlord. The lease includes annual rental escalations of approximately 1.4% throughout the remaining primary term. The 2,068 square-foot building is strategically located along North Wayne Street, which sees 16,400 vehicles per day and is occupied by numerous national retailers, including Menards, Meijer, Walmart Supercenter, ALDI, Rural King, AutoZone, O’Reilly Auto Parts, and more. The property benefits from its proximity to key thoroughfares, including US Highway 20 and Interstate 69, which sees 23,000 vehicles per day. Additionally, it is less than one mile from Trine University, with 15,000 enrolled students, and Cameron Memorial Community Hospital. Notably, there is limited competition for quick-service oil changes in the area, further enhancing the property’s appeal. Jiffy Lube, a subsidiary of Shell Oil Company, is a leading provider of automotive preventive maintenance services, with a primary focus on oil changes and a range of other automotive care services. Established in 1979, Jiffy Lube has grown into a trusted brand with over 2,000 franchisee-owned service centers across the United States and Canada. The company is renowned for its quick, customer-centric service model and its dedication to vehicle maintenance, which includes tire rotations, brake services, fluid replacements, and vehicle inspections.

FOR SALE DETAILS

PRICE

$1,664,329 USD

PRICE/SF

$854 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jiffy Lube

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

76-06-26-120-304.000-012,76-06-26-120-305.000-012

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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John FeeneyThe Boulder GroupMore Info
847-562-9280

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.