May 31, 2022 – Dan Bernardini of Horvath & Tremblay has successfully completed the sale of a Jiffy Lube in Trussville, Alabama. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,442,105.
Jiffy Lube is located at 1106 North Chalkville Road in Trussville, Alabama. The new construction Jiffy Lube was completed in 2022 and the absolute triple-net ground lease has a 20-year primary lease term with five (5), 5-year renewal options. Both the initial term and renewal options include an attractive 10% rent increase every five years. The Jiffy Lube has a corporate guaranty. The Property is well located along North Chalkville Road and is 0.3-miles from Interstate 59. The Property enjoys excellent visibility, frontage and access along the area’s primary commercial corridor which is home to the area’s retailers and businesses. The Property is also surrounded by several single family and multi-family housing developments and benefits from a strong built-in customer base with more than 78,000 people living within 5-miles of the Property.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.